Jump Financial LLC Makes New Investment in Flutter Entertainment PLC $FLUT

Key Points

• Jump Financial LLC has acquired a new position of 57,613 shares in Flutter Entertainment PLC valued at approximately $12.76 million during the first quarter.
• Analysts have upgraded Flutter Entertainment's stock with multiple firms issuing ratings of "buy" and increasing price targets, indicating strong market confidence.
• Flutter Entertainment reported a quarterly earnings per share (EPS) of $2.95, significantly surpassing analyst expectations, with revenue up by 16% year-over-year.

Jump Financial LLC purchased a new position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 57,613 shares of the company's stock, valued at approximately $12,764,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in FLUT. GPS Wealth Strategies Group LLC lifted its position in shares of Flutter Entertainment by 1,375.0% in the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock worth $26,000 after buying an additional 110 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Flutter Entertainment in the first quarter worth about $27,000. Parallel Advisors LLC lifted its position in shares of Flutter Entertainment by 78.9% in the first quarter. Parallel Advisors LLC now owns 136 shares of the company's stock worth $30,000 after buying an additional 60 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Flutter Entertainment in the fourth quarter worth about $33,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in shares of Flutter Entertainment in the fourth quarter worth about $36,000.

Insider Buying and Selling

In other news, CEO Jeremy Peter Jackson sold 2,112 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total value of $617,591.04. Following the sale, the chief executive officer directly owned 31,944 shares in the company, valued at approximately $9,341,064.48. This represents a 6.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Christine M. Mccarthy sold 264 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $244.12, for a total value of $64,447.68. Following the completion of the sale, the director owned 559 shares in the company, valued at approximately $136,463.08. This represents a 32.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,754 shares of company stock worth $6,108,064. Insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Zacks Research upgraded Flutter Entertainment from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. Stifel Nicolaus lifted their price objective on 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 lifted their price objective on Flutter Entertainment from $295.00 to $330.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. JMP Securities lifted their price objective 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, UBS Group reiterated a "buy" rating and issued a $360.00 price objective (up from $340.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $332.70.

Flutter Entertainment Trading Up 1.5%

Shares of FLUT opened at $299.3870 on Friday. Flutter Entertainment PLC has a 12-month low of $196.88 and a 12-month high of $313.68. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $52.72 billion, a price-to-earnings ratio of 147.48, a P/E/G ratio of 1.45 and a beta of 2.31. The stock's 50-day moving average price is $290.29 and its 200 day moving average price is $262.05.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly 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 firm had revenue of $4.19 billion for the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment's quarterly 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, research analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its board has authorized a stock repurchase plan on Friday, August 8th that authorizes the company to repurchase $245.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its stock is undervalued.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.