Northern Trust Corp Acquires 8,854 Shares of Flutter Entertainment PLC $FLUT

Key Points

• Northern Trust Corp has increased its stake in Flutter Entertainment PLC by 1.5%, owning 617,311 shares, valued at approximately $136.8 million.
• Flutter Entertainment has received multiple upgrade ratings from analysts, with several raising their price targets, indicating a consensus rating of "Moderate Buy" with an average target price of $332.70.
• The company has launched a $245 million share buyback program, suggesting that management perceives shares as undervalued after reporting better-than-expected quarterly earnings.

Northern Trust Corp raised its stake in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 1.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 617,311 shares of the company's stock after purchasing an additional 8,854 shares during the period. Northern Trust Corp owned 0.35% of Flutter Entertainment worth $136,765,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. 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 in the last quarter. Parallel Advisors LLC grew its holdings in Flutter Entertainment by 78.9% during the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company's stock valued at $30,000 after buying an additional 60 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in Flutter Entertainment in the 4th quarter worth approximately $33,000. TD Waterhouse Canada Inc. purchased a new stake in shares of Flutter Entertainment during the 4th quarter worth approximately $36,000. Finally, Harbor Investment Advisory LLC boosted its position in shares of Flutter Entertainment by 43.8% during the 1st quarter. Harbor Investment Advisory LLC now owns 184 shares of the company's stock valued at $41,000 after acquiring an additional 56 shares during the last quarter.

Insider Buying and Selling

In other Flutter Entertainment news, Director Christine M. Mccarthy sold 264 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $244.12, for a total value of $64,447.68. Following the transaction, the director directly owned 559 shares in the company, valued at $136,463.08. This represents a 32.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Mark Taylor sold 15,283 shares of the business's stock in a transaction that occurred 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 sale, 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 disclosure for this sale can be found here. Insiders sold 21,754 shares of company stock worth $6,108,064 over the last 90 days. Corporate insiders own 0.09% of the company's stock.

Flutter Entertainment Trading Up 0.8%

FLUT stock traded up $2.34 during midday trading on Thursday, reaching $307.68. The company's stock had a trading volume of 237,863 shares, compared to its average volume of 2,281,396. Flutter Entertainment PLC has a 1 year low of $196.88 and a 1 year high of $313.68. The firm has a market capitalization of $54.18 billion, a price-to-earnings ratio of 151.52, a PEG ratio of 1.46 and a beta of 2.31. The stock has a fifty day simple moving average of $292.12 and a two-hundred day simple moving average of $262.80. 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 (NYSE:FLUT - Get Free Report) last posted its quarterly 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. 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 firm's revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment announced that its Board of Directors has authorized a stock buyback program on Friday, August 8th that permits the company to repurchase $245.00 million in shares. This repurchase authorization permits the company to purchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts recently weighed in on FLUT shares. Barclays boosted their price target 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. UBS Group reissued 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. Canaccord Genuity Group boosted their target price on shares of Flutter Entertainment from $330.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Needham & Company LLC increased their price target on shares of Flutter Entertainment from $340.00 to $355.00 and gave the company a "buy" rating in a report on Friday, August 8th. Finally, Jefferies Financial Group began coverage on Flutter Entertainment in a research report on Tuesday, July 8th. They issued a "buy" rating and a $380.00 price target for the company. Twenty investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Flutter Entertainment currently has an average rating of "Moderate Buy" and a consensus target price of $332.70.

About Flutter Entertainment

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.