Grove Bank & Trust acquired a new stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,801 shares of the company's stock, valued at approximately $800,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Flutter Entertainment by 326.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,243 shares of the company's stock worth $742,000 after purchasing an additional 2,483 shares during the period. Whalen Wealth Management Inc. acquired a new position in Flutter Entertainment during the 1st quarter valued at about $380,000. Rubicon Global Capital Ltd increased its holdings in Flutter Entertainment by 56.1% during the 1st quarter. Rubicon Global Capital Ltd now owns 70,250 shares of the company's stock worth $15,564,000 after purchasing an additional 25,250 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Flutter Entertainment by 0.6% in 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 during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Flutter Entertainment by 1.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company's stock valued at $1,060,000 after purchasing an additional 67 shares in the last quarter.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Flutter Entertainment from $353.00 to $356.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Bank of America increased their price objective on shares of Flutter Entertainment from $295.00 to $330.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Citigroup reiterated a "buy" rating on shares of Flutter Entertainment in a research note on Thursday, August 14th. Jefferies Financial Group assumed coverage on Flutter Entertainment in a report on Tuesday, July 8th. They issued a "buy" rating and a $380.00 target price for the company. Finally, Macquarie upped their target price on Flutter Entertainment from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Flutter Entertainment has a consensus rating of "Moderate Buy" and an average price target of $332.70.
View Our Latest Stock Report on FLUT
Insider Buying and Selling
In other news, insider Daniel Mark Taylor sold 15,283 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $284.80, for a total value of $4,352,598.40. Following the transaction, the insider owned 16,589 shares of the company's stock, valued at approximately $4,724,547.20. This represents a 47.95% 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, CEO Amy Howe sold 4,097 shares of the company's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $305.91, for a total transaction of $1,253,313.27. Following the completion of the transaction, the chief executive officer directly owned 69,850 shares in the company, valued at approximately $21,367,813.50. The trade was a 5.54% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,396 shares of company stock worth $6,759,745. Insiders own 0.09% of the company's stock.
Flutter Entertainment Stock Performance
Shares of NYSE:FLUT traded up $2.39 during trading on Friday, hitting $284.72. 1,675,461 shares of the company were exchanged, compared to its average volume of 1,549,035. The company has a market cap of $50.14 billion, a PE ratio of 140.26 and a beta of 2.29. The stock has a 50 day moving average of $296.37 and a 200 day moving average of $264.28. Flutter Entertainment PLC has a 52-week low of $196.88 and a 52-week high of $313.68. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95.
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, topping the consensus estimate of $2.08 by $0.87. The firm had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The business's quarterly revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current year.
Flutter Entertainment declared that its board has authorized a stock repurchase program on Friday, August 8th that permits the company to repurchase $245.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 0.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its stock is undervalued.
Flutter Entertainment Profile
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Free Report)
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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