Flutter Entertainment PLC $FLUT Shares Purchased by Gerber Kawasaki Wealth & Investment Management

Key Points

• Gerber Kawasaki Wealth & Investment Management increased its stake in Flutter Entertainment by 31.5% in the first quarter, now holding shares worth $1.29 million.
• Several institutional investors boosted their positions in Flutter, with OMERS ADMINISTRATION Corp increasing its stake by an astonishing 791.2%.
• Flutter Entertainment's stock has been resoundingly received by analysts, with an average rating of "Moderate Buy" and a target price of $332.70 according to recent reports.

Gerber Kawasaki Wealth & Investment Management grew its position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 31.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,824 shares of the company's stock after acquiring an additional 1,396 shares during the quarter. Gerber Kawasaki Wealth & Investment Management's holdings in Flutter Entertainment were worth $1,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its position in shares of Flutter Entertainment by 196.5% during the 1st quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company's stock valued at $441,916,000 after purchasing an additional 1,322,016 shares during the last quarter. Nuveen LLC bought a new position in shares of Flutter Entertainment during the 1st quarter valued at approximately $289,627,000. Primecap Management Co. CA bought a new position in shares of Flutter Entertainment during the 1st quarter valued at approximately $210,940,000. Hsbc Holdings PLC increased its position in shares of Flutter Entertainment by 376.4% during the 1st quarter. Hsbc Holdings PLC now owns 855,552 shares of the company's stock valued at $187,304,000 after purchasing an additional 675,949 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of Flutter Entertainment by 52.2% during the 1st quarter. Deutsche Bank AG now owns 1,849,769 shares of the company's stock valued at $409,816,000 after purchasing an additional 634,497 shares during the last quarter.

Insider Activity

In other Flutter Entertainment news, insider James Philip Bishop sold 1,904 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $281.64, for a total transaction of $536,242.56. Following the transaction, the insider owned 4,712 shares in the company, valued at approximately $1,327,087.68. This represents a 28.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christine M. Mccarthy sold 264 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $244.12, for a total value of $64,447.68. Following the transaction, the director owned 559 shares in the company, valued at $136,463.08. This represents a 32.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,851 shares of company stock valued at $7,361,377 over the last 90 days. Company insiders own 0.09% of the company's stock.

Flutter Entertainment Stock Down 0.3%

FLUT traded down $0.87 on Friday, hitting $307.73. The company had a trading volume of 1,282,229 shares, compared to its average volume of 1,934,128. The stock has a fifty day moving average price of $293.72 and a 200-day moving average price of $263.11. Flutter Entertainment PLC has a 12-month low of $196.88 and a 12-month high of $313.68. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $54.19 billion, a price-to-earnings ratio of 151.59, a P/E/G ratio of 1.49 and a beta of 2.30.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.87. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The company had revenue of $4.19 billion for the quarter, compared to analyst estimates of $3.06 billion. The company's revenue for the quarter was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. Analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment announced that its board has approved a share buyback plan on Friday, August 8th that allows the company to repurchase $245.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

FLUT has been the topic of a number of recent analyst reports. Sanford C. Bernstein reiterated a "market perform" rating on shares of Flutter Entertainment in a research note on Friday, August 8th. Barclays increased their target price on Flutter Entertainment from $350.00 to $352.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Zacks Research upgraded Flutter Entertainment from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. JMP Securities increased their target price on Flutter Entertainment from $323.00 to $345.00 and gave the stock a "market outperform" rating in a research note on Friday, August 8th. Finally, Bank of America increased their target price on Flutter Entertainment from $295.00 to $330.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $332.70.

Flutter Entertainment Profile

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.