Groupama Asset Managment Decreases Stake in Flutter Entertainment PLC $FLUT

Key Points

• Groupama Asset Management reduced its stake in Flutter Entertainment PLC by 17.2%, owning 5,337 shares valued at approximately $1.18 million after selling 1,107 shares in the first quarter.
• Several institutional investors, including Mirae Asset Global Investments and Rubicon Global Capital, significantly increased their holdings in Flutter Entertainment during the same period.
• Flutter Entertainment's recent quarterly earnings surpassed expectations, reporting $2.95 earnings per share and $4.19 billion in revenue, leading to a stock buyback plan of $245 million approved by its board.

Groupama Asset Managment cut its holdings in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 17.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,337 shares of the company's stock after selling 1,107 shares during the quarter. Groupama Asset Managment's holdings in Flutter Entertainment were worth $1,182,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Flutter Entertainment by 326.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,243 shares of the company's stock valued at $742,000 after buying an additional 2,483 shares in the last quarter. Whalen Wealth Management Inc. purchased a new stake in shares of Flutter Entertainment in the first quarter valued at approximately $380,000. Rubicon Global Capital Ltd boosted its stake in shares of Flutter Entertainment by 56.1% in the first quarter. Rubicon Global Capital Ltd now owns 70,250 shares of the company's stock valued at $15,564,000 after buying an additional 25,250 shares in the last quarter. Bessemer Group Inc. boosted its position in Flutter Entertainment by 0.6% during the first quarter. Bessemer Group Inc. now owns 397,297 shares of the company's stock worth $88,021,000 after purchasing an additional 2,478 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in Flutter Entertainment by 1.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company's stock worth $1,060,000 after purchasing an additional 67 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have commented on the company. Macquarie boosted their target price on Flutter Entertainment from $320.00 to $340.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. UBS Group reiterated a "buy" rating and set a $360.00 target price (up from $340.00) on shares of Flutter Entertainment in a research report on Friday, August 8th. JMP Securities boosted their target price on Flutter Entertainment from $323.00 to $345.00 and gave the stock a "market outperform" rating in a research report on Friday, August 8th. Hsbc Global Res upgraded Flutter Entertainment to a "hold" rating in a research report on Wednesday, June 18th. Finally, Barclays boosted their target price on Flutter Entertainment from $350.00 to $352.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $328.62.

Insider Transactions at Flutter Entertainment

In related news, Director John A. Bryant sold 418 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total value of $102,706.78. Following the completion of the transaction, the director directly owned 5,956 shares in the company, valued at approximately $1,463,448.76. This represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Nancy Cruickshank sold 281 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total value of $69,044.51. Following the completion of the transaction, the director owned 1,797 shares of the company's stock, valued at $441,540.87. The trade was a 13.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,642 shares of company stock valued at $5,490,473. Corporate insiders own 0.09% of the company's stock.

Flutter Entertainment Stock Performance

NYSE FLUT opened at $294.3080 on Thursday. Flutter Entertainment PLC has a fifty-two week low of $196.88 and a fifty-two week high of $313.68. The stock has a market cap of $51.83 billion, a price-to-earnings ratio of 144.98, a price-to-earnings-growth ratio of 1.21 and a beta of 2.31. The business has a fifty day moving average of $289.14 and a 200-day moving average of $261.62. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $2.95 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $3.06 billion. Flutter Entertainment's revenue for the quarter was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

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

About Flutter Entertainment

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.

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