Korea Investment CORP Has $50.07 Million Stake in Flutter Entertainment PLC $FLUT

Key Points

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Korea Investment CORP trimmed its position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 11.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 226,002 shares of the company's stock after selling 30,252 shares during the period. Korea Investment CORP owned 0.13% of Flutter Entertainment worth $50,071,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp boosted its position in Flutter Entertainment by 1.5% during the first quarter. Northern Trust Corp now owns 617,311 shares of the company's stock worth $136,765,000 after purchasing an additional 8,854 shares during the period. Corient IA LLC bought a new position in Flutter Entertainment during the first quarter worth $693,000. Cambiar Investors LLC bought a new position in Flutter Entertainment during the first quarter worth $11,078,000. Kids Capital Management L.P. bought a new position in Flutter Entertainment during the first quarter worth $1,662,000. Finally, American Century Companies Inc. boosted its position in Flutter Entertainment by 122.1% during the first quarter. American Century Companies Inc. now owns 2,601 shares of the company's stock worth $576,000 after purchasing an additional 1,430 shares during the period.

Flutter Entertainment Price Performance

FLUT stock traded up $4.3870 during midday trading on Friday, reaching $299.3870. The company had a trading volume of 748,703 shares, compared to its average volume of 2,136,639. The company has a market capitalization of $52.72 billion, a price-to-earnings ratio of 147.48, a price-to-earnings-growth ratio of 1.43 and a beta of 2.31. The stock has a 50 day moving average price of $290.29 and a 200-day moving average price of $262.08. Flutter Entertainment PLC has a 1-year low of $196.88 and a 1-year 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 quarterly earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.87. The business had revenue of $4.19 billion during 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 company'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. Equities research analysts expect that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment declared that its Board of Directors has approved a stock buyback program on Friday, August 8th that allows the company to buyback $245.00 million in shares. This buyback authorization allows the company to reacquire up to 0.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FLUT. Hsbc Global Res raised shares of Flutter Entertainment to a "hold" rating in a research report on Wednesday, June 18th. Oppenheimer lifted their price objective on shares of Flutter Entertainment from $310.00 to $350.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Barclays lifted their price objective on shares of Flutter Entertainment from $350.00 to $352.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Needham & Company LLC boosted their target price on shares of Flutter Entertainment from $340.00 to $355.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Finally, Zacks Research raised shares of Flutter Entertainment from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. One research 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's stock. According to MarketBeat.com, Flutter Entertainment has a consensus rating of "Moderate Buy" and a consensus target price of $332.70.

Insiders Place Their Bets

In related news, Director John A. Bryant sold 418 shares of the business's stock in a transaction dated 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 owned 5,956 shares of the company's stock, valued at $1,463,448.76. The trade was a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider James Philip Bishop sold 1,904 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $281.64, for a total value of $536,242.56. Following the transaction, the insider directly owned 4,712 shares of the company's stock, valued at approximately $1,327,087.68. The trade was a 28.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,754 shares of company stock valued at $6,108,064 over the last 90 days. 0.09% of the stock is owned by company insiders.

Flutter Entertainment Company 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.