L1 Capital Pty Ltd boosted its stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 61.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 494,603 shares of the company's stock after purchasing an additional 187,471 shares during the period. Flutter Entertainment comprises approximately 10.2% of L1 Capital Pty Ltd's investment portfolio, making the stock its 4th biggest position. L1 Capital Pty Ltd owned approximately 0.28% of Flutter Entertainment worth $109,579,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of FLUT. BNP Paribas Financial Markets increased its holdings in Flutter Entertainment by 196.5% in the first quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company's stock valued at $441,916,000 after purchasing an additional 1,322,016 shares during the period. Nuveen LLC acquired a new stake in Flutter Entertainment in the first quarter valued at $289,627,000. Primecap Management Co. CA acquired a new stake in Flutter Entertainment in the first quarter valued at $210,940,000. Hsbc Holdings PLC grew its holdings in Flutter Entertainment by 376.4% during the 1st quarter. Hsbc Holdings PLC now owns 855,552 shares of the company's stock worth $187,304,000 after acquiring an additional 675,949 shares during the period. Finally, Deutsche Bank AG grew its holdings in Flutter Entertainment by 52.2% during the 1st quarter. Deutsche Bank AG now owns 1,849,769 shares of the company's stock worth $409,816,000 after acquiring an additional 634,497 shares during the period.
Insider Buying and Selling at Flutter Entertainment
In related news, insider Daniel Mark Taylor sold 15,283 shares of the firm's 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 owned 16,589 shares of the company's stock, valued at approximately $4,724,547.20. This trade represents a 47.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amy Howe sold 4,097 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were 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. Insiders sold a total of 23,396 shares of company stock worth $6,759,745 in the last quarter. 0.09% of the stock is owned by insiders.
Flutter Entertainment Stock Up 1.0%
Shares of FLUT stock traded up $2.81 on Friday, reaching $295.19. 1,926,671 shares of the company were exchanged, compared to its average volume of 1,792,129. The company has a market cap of $51.98 billion, a price-to-earnings ratio of 145.41, a PEG ratio of 1.42 and a beta of 2.29. The company has a 50-day moving average of $296.23 and a 200-day moving average of $263.61. 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 released its quarterly earnings data on Thursday, August 7th. The company reported $2.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.87. The company had revenue of $4.19 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. Analysts anticipate that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.
Flutter Entertainment declared that its board has approved a stock buyback program on Friday, August 8th that permits the company to buyback $245.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 0.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.
Analysts Set New Price Targets
A number of brokerages have weighed in on FLUT. Jefferies Financial Group began coverage on Flutter Entertainment in a report on Tuesday, July 8th. They set a "buy" rating and a $380.00 price target for the company. Macquarie increased their price target on Flutter Entertainment from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Oppenheimer increased their price target on Flutter Entertainment from $310.00 to $350.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Barclays increased their price target on Flutter Entertainment from $350.00 to $352.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Finally, Sanford C. Bernstein reiterated a "market perform" rating on shares of Flutter Entertainment in a report on Friday, August 8th. 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. According to data from MarketBeat, Flutter Entertainment presently has an average rating of "Moderate Buy" and an average target price of $332.70.
Check Out Our Latest Report on FLUT
Flutter Entertainment Company Profile
(
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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