Gunderson Capital Management Inc. Buys 2,364 Shares of Flutter Entertainment PLC $FLUT

Key Points

• Gunderson Capital Management Inc. increased its stake in Flutter Entertainment PLC by 17.8%, acquiring 2,364 shares during the second quarter, bringing its total ownership to 15,646 shares valued at approximately $4.47 million.
• Analysts have set varying price targets for Flutter Entertainment, with Canaccord Genuity raising its target from $330 to $340 and Needham lifting it from $340 to $355, reflecting a positive outlook despite one analyst downgrading the stock to a "hold" rating.
• Flutter Entertainment's stock fell by 0.8%, trading at $248.08, while the company reported strong Q2 earnings with earnings per share of $2.95, exceeding expectations and achieving a revenue of $4.19 billion.

Gunderson Capital Management Inc. lifted its stake in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 17.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,646 shares of the company's stock after purchasing an additional 2,364 shares during the period. Flutter Entertainment makes up about 1.9% of Gunderson Capital Management Inc.'s investment portfolio, making the stock its 20th biggest position. Gunderson Capital Management Inc.'s holdings in Flutter Entertainment were worth $4,471,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in Flutter Entertainment by 22,057.1% in the first quarter. GAMMA Investing LLC now owns 3,102 shares of the company's stock valued at $687,000 after acquiring an additional 3,088 shares during the last quarter. Rhumbline Advisers boosted its stake in Flutter Entertainment by 5.4% in the first quarter. Rhumbline Advisers now owns 23,806 shares of the company's stock valued at $5,274,000 after acquiring an additional 1,216 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Flutter Entertainment by 90.6% during the 1st quarter. Farther Finance Advisors LLC now owns 183 shares of the company's stock worth $41,000 after acquiring an additional 87 shares during the period. Yousif Capital Management LLC lifted its stake in shares of Flutter Entertainment by 2.8% in the 1st quarter. Yousif Capital Management LLC now owns 3,628 shares of the company's stock valued at $804,000 after purchasing an additional 98 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of Flutter Entertainment by 1.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 7,109 shares of the company's stock worth $1,575,000 after purchasing an additional 111 shares during the last quarter.

Analysts Set New Price Targets

FLUT has been the topic of a number of analyst reports. Canaccord Genuity Group increased their price target on shares of Flutter Entertainment from $330.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Peel Hunt lowered shares of Flutter Entertainment from an "add" rating to a "hold" rating in a report on Friday, August 8th. Jefferies Financial Group began coverage on Flutter Entertainment in a research note on Tuesday, July 8th. They set a "buy" rating and a $380.00 price objective on the stock. Needham & Company LLC lifted their target price on Flutter Entertainment from $340.00 to $355.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Finally, Citigroup reaffirmed a "buy" rating on shares of Flutter Entertainment in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $337.32.

Flutter Entertainment Trading Up 0.8%

Shares of NYSE:FLUT opened at $248.08 on Friday. The stock has a market capitalization of $43.69 billion, a PE ratio of 122.21 and a beta of 1.91. The company's 50-day moving average price is $285.49 and its two-hundred day moving average price is $266.42. 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 PLC has a one year low of $196.88 and a one year high of $313.68.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its 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. The business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. Flutter Entertainment's revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has authorized a stock repurchase program on Friday, August 8th that allows the company to buyback $245.00 million in shares. This buyback authorization allows the company to purchase up to 0.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Flutter Entertainment news, insider Daniel Mark Taylor sold 15,283 shares of the stock in a transaction dated 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 directly owned 16,589 shares of the company's stock, valued at $4,724,547.20. This represents a 47.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Amy Howe sold 4,097 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $305.91, for a total value of $1,253,313.27. Following the transaction, the chief executive officer owned 69,850 shares in the company, valued at $21,367,813.50. The trade was a 5.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,396 shares of company stock worth $6,759,745 in the last quarter. Insiders own 0.09% of the company's stock.

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.

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