Mirae Asset Global Investments Co. Ltd. Acquires 1,949 Shares of Flutter Entertainment PLC $FLUT

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Flutter Entertainment PLC by 60.1% during the second quarter, acquiring an additional 1,949 shares for a total of 5,192 shares worth approximately $1.48 million.
• Multiple large investors have significantly increased their positions in Flutter Entertainment, with GPS Wealth Strategies Group LLC growing its stake by 1,375.0% in the first quarter.
• Flutter Entertainment's stock recently reported a revenue of $4.19 billion for the quarter, exceeding analysts' expectations by over $1 billion, amid an EPS of $2.95, also surpassing forecasts.

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 60.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,192 shares of the company's stock after purchasing an additional 1,949 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Flutter Entertainment were worth $1,484,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. GPS Wealth Strategies Group LLC grew its stake in Flutter Entertainment by 1,375.0% during the 1st 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 purchased a new stake in shares of Flutter Entertainment in the first quarter worth about $27,000. ORG Partners LLC boosted its stake in shares of Flutter Entertainment by 300.0% in the second quarter. ORG Partners LLC now owns 100 shares of the company's stock worth $28,000 after buying an additional 75 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Flutter Entertainment by 98.5% in the second quarter. Signaturefd LLC now owns 129 shares of the company's stock worth $37,000 after buying an additional 64 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Flutter Entertainment by 90.6% in the first quarter. Farther Finance Advisors LLC now owns 183 shares of the company's stock worth $41,000 after buying an additional 87 shares during the last quarter.

Insider Activity at Flutter Entertainment

In related news, CEO Jeremy Peter Jackson sold 2,112 shares of Flutter Entertainment stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total value of $617,591.04. Following the completion of the sale, the chief executive officer owned 31,944 shares of the company's stock, valued at approximately $9,341,064.48. The trade was a 6.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider James Philip Bishop sold 1,904 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $281.64, for a total transaction of $536,242.56. Following the transaction, the insider directly owned 4,712 shares of the company's stock, valued at $1,327,087.68. This represents a 28.78% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,396 shares of company stock valued at $6,759,745. Insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

FLUT has been the subject of a number of research analyst reports. Bank of America increased their target price on Flutter Entertainment from $295.00 to $330.00 and gave the company a "buy" rating in a report on Friday, July 11th. Barclays raised their target price on Flutter Entertainment from $350.00 to $352.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Truist Financial lifted their price objective on Flutter Entertainment from $280.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Flutter Entertainment in a research note on Friday, August 8th. Finally, Kepler Capital Markets upgraded Flutter Entertainment to a "strong-buy" rating in a report on Thursday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $337.32.

Flutter Entertainment Stock Up 0.8%

Shares of Flutter Entertainment stock opened at $248.08 on Friday. The business has a 50-day moving average of $285.49 and a 200-day moving average of $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. The company has a market capitalization of $43.69 billion, a PE ratio of 122.21 and a beta of 1.91. Flutter Entertainment PLC has a 1-year low of $196.88 and a 1-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 (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.87. The firm 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 company'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, equities analysts forecast that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has approved a share repurchase plan on Friday, August 8th that permits the company to repurchase $245.00 million in shares. This repurchase authorization permits the company to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

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.

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