Hsbc Holdings PLC Grows Stock Holdings in Flutter Entertainment PLC $FLUT

Key Points

• HSBC Holdings PLC increased its stake in Flutter Entertainment PLC by 376.4% during the first quarter, acquiring an additional 675,949 shares, bringing its total ownership to about 855,552 shares worth approximately $187 million.
• Flutter Entertainment's Board of Directors approved a $245 million share repurchase program, indicating the board's belief that the stock is undervalued.
• Flutter reported earnings of $2.95 per share for the quarter, exceeding expectations by 42%, alongside a revenue of $4.19 billion, up 16% year-over-year.

Hsbc Holdings PLC boosted its position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 376.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 855,552 shares of the company's stock after acquiring an additional 675,949 shares during the period. Hsbc Holdings PLC owned about 0.48% of Flutter Entertainment worth $187,304,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. PARUS FINANCE UK Ltd grew its stake in Flutter Entertainment by 1.5% in the 1st quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company's stock worth $742,000 after acquiring an additional 50 shares during the period. Sequoia Financial Advisors LLC grew its stake in Flutter Entertainment by 3.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,836 shares of the company's stock worth $407,000 after acquiring an additional 53 shares during the period. Harbor Investment Advisory LLC grew its stake in Flutter Entertainment by 43.8% in the 1st quarter. Harbor Investment Advisory LLC now owns 184 shares of the company's stock worth $41,000 after acquiring an additional 56 shares during the period. Parallel Advisors LLC grew its stake in Flutter Entertainment by 78.9% in the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company's stock worth $30,000 after acquiring an additional 60 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its stake in Flutter Entertainment by 1.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company's stock worth $1,060,000 after acquiring an additional 67 shares during the period.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, insider James Philip Bishop sold 1,904 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $281.64, for a total value of $536,242.56. Following the transaction, the insider owned 4,712 shares in the company, valued at $1,327,087.68. The trade was a 28.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John A. Bryant sold 418 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total transaction of $102,706.78. Following the completion of the transaction, the director owned 5,956 shares in the company, valued at $1,463,448.76. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,642 shares of company stock worth $5,490,473. Corporate insiders own 0.09% of the company's stock.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $291.5610 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $51.34 billion, a price-to-earnings ratio of 143.63, a PEG ratio of 1.22 and a beta of 2.31. The firm's fifty day simple moving average is $288.64 and its 200 day simple moving average is $261.39. Flutter Entertainment PLC has a twelve month low of $196.88 and a twelve month high of $313.68.

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

Flutter Entertainment declared that its Board of Directors has approved a share 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have weighed in on FLUT shares. BTIG Research decreased their price target on shares of Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Macquarie lifted their price target on shares of Flutter Entertainment from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Stifel Nicolaus lifted their price target on shares of Flutter Entertainment from $353.00 to $356.00 and gave the company a "buy" rating in a report on Friday, August 8th. Truist Financial lifted their price target on shares of Flutter Entertainment from $280.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, UBS Group reiterated a "buy" rating and issued a $360.00 price target (up previously from $340.00) on shares of Flutter Entertainment in a report on Friday, August 8th. One investment 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 company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $328.62.

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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