66,100 Shares in Flutter Entertainment PLC $FLUT Bought by Mn Services Vermogensbeheer B.V.

Key Points

• Mn Services Vermogensbeheer B.V. has taken a new position in Flutter Entertainment PLC, acquiring 66,100 shares valued at approximately $18.89 million.
• Flutter Entertainment reported a strong quarterly earnings performance, with $2.95 EPS exceeding analyst expectations and revenues increasing by 16% year-over-year.
• In response to its stock valuation, Flutter Entertainment's Board of Directors authorized a $245 million share repurchase program aimed at boosting shareholder value.

Mn Services Vermogensbeheer B.V. bought a new stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 66,100 shares of the company's stock, valued at approximately $18,889,000.

A number of other institutional investors also recently modified their holdings of FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Flutter Entertainment by 163.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,242 shares of the company's stock valued at $321,000 after acquiring an additional 771 shares during the last quarter. State of Wyoming raised its stake in shares of Flutter Entertainment by 19.1% in the fourth quarter. State of Wyoming now owns 536 shares of the company's stock valued at $139,000 after acquiring an additional 86 shares during the last quarter. Tidal Investments LLC bought a new position in shares of Flutter Entertainment in the fourth quarter valued at approximately $661,000. Squarepoint Ops LLC raised its stake in shares of Flutter Entertainment by 151.2% in the fourth quarter. Squarepoint Ops LLC now owns 71,611 shares of the company's stock valued at $18,508,000 after acquiring an additional 43,101 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC raised its stake in shares of Flutter Entertainment by 7.9% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 14,789 shares of the company's stock valued at $3,822,000 after acquiring an additional 1,089 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays raised their price target on shares of Flutter Entertainment from $350.00 to $352.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Oppenheimer raised their price target on shares of Flutter Entertainment from $310.00 to $350.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Bank of America raised their price target on shares of Flutter Entertainment from $295.00 to $330.00 and gave the company a "buy" rating in a report on Friday, July 11th. JMP Securities raised their price target on shares of Flutter Entertainment from $323.00 to $345.00 and gave the company a "market outperform" rating in a report on Friday, August 8th. Finally, Truist Financial raised 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. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $332.70.

Flutter Entertainment Trading Up 0.8%

FLUT traded up $2.39 during trading on Friday, reaching $284.72. 1,675,461 shares of the company's stock were exchanged, compared to its average volume of 1,549,035. The company's fifty day moving average price is $296.37 and its 200-day moving average price is $264.33. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95. Flutter Entertainment PLC has a fifty-two week low of $196.88 and a fifty-two week high of $313.68. The firm has a market capitalization of $50.14 billion, a PE ratio of 140.26 and a beta of 2.29.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.87. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The firm had revenue of $4.19 billion during the quarter, compared to analyst estimates of $3.06 billion. The business'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 year.

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

Insider Activity

In other news, insider Daniel Mark Taylor sold 15,283 shares of the business's stock in a transaction on 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 completion of the transaction, the insider owned 16,589 shares of the company's stock, valued at $4,724,547.20. The trade was a 47.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amy Howe sold 4,097 shares of the business's stock in a transaction on 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 of the company's stock, valued at $21,367,813.50. This trade represents a 5.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,396 shares of company stock worth $6,759,745 over the last quarter. Corporate insiders own 0.09% of the company's stock.

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.