OMERS ADMINISTRATION Corp Has $2.48 Million Stock Position in Flutter Entertainment PLC $FLUT

Key Points

• OMERS Administration Corp increased its stake in Flutter Entertainment PLC by 791.2% in Q1, acquiring a total of 11,184 shares valued at approximately $2.48 million.
• Several institutional investors, including BNP Paribas Financial Markets and Hsbc Holdings PLC, significantly boosted their holdings in Flutter during the same period.
• Flutter Entertainment announced a $245 million share buyback plan, indicating confidence in the company's stock value as it prepares for FY 2025.

OMERS ADMINISTRATION Corp raised its position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 791.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,184 shares of the company's stock after buying an additional 9,929 shares during the period. OMERS ADMINISTRATION Corp's holdings in Flutter Entertainment were worth $2,478,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC acquired a new stake in Flutter Entertainment during the 4th quarter valued at $33,000. Stifel Financial Corp acquired a new stake in shares of Flutter Entertainment in the fourth quarter valued at $1,401,000. Voya Investment Management LLC raised its holdings in shares of Flutter Entertainment by 204.6% in the fourth quarter. Voya Investment Management LLC now owns 7,020 shares of the company's stock valued at $1,822,000 after buying an additional 4,715 shares during the last quarter. Northern Trust Corp lifted its position in Flutter Entertainment by 36.9% during the 4th quarter. Northern Trust Corp now owns 608,457 shares of the company's stock worth $157,256,000 after buying an additional 164,023 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in Flutter Entertainment by 96.1% during the 4th quarter. AQR Capital Management LLC now owns 131,401 shares of the company's stock worth $33,961,000 after acquiring an additional 64,394 shares during the last quarter.

Insiders Place Their Bets

In other news, CEO Jeremy Peter Jackson sold 2,112 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total transaction of $617,591.04. Following the transaction, the chief executive officer directly owned 31,944 shares in the company, valued at $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 available at this link. Also, insider James Philip Bishop sold 1,904 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $1,327,087.68. This trade represents a 28.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,925 shares of company stock valued at $6,888,837 in the last quarter. 0.09% of the stock is currently owned by corporate insiders.

Flutter Entertainment Stock Down 1.1%

Shares of NYSE:FLUT traded down $3.22 during midday trading on Wednesday, reaching $295.78. 882,237 shares of the company were exchanged, compared to its average volume of 2,272,340. The firm has a market cap of $52.09 billion, a PE ratio of 145.63, a P/E/G ratio of 1.49 and a beta of 2.29. Flutter Entertainment PLC has a fifty-two week low of $196.88 and a fifty-two week high of $313.68. The stock has a fifty day simple moving average of $294.93 and a two-hundred day simple moving average of $263.42. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued 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 company had revenue of $4.19 billion for the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.Flutter Entertainment'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. As a group, sell-side analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment declared that its board has authorized a share repurchase program on Friday, August 8th that allows the company to buyback $245.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 0.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on FLUT shares. Canaccord Genuity Group upped their target price on shares of Flutter Entertainment from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Jefferies Financial Group assumed coverage on Flutter Entertainment in a research report on Tuesday, July 8th. They issued a "buy" rating and a $380.00 price objective for the company. UBS Group restated a "buy" rating and set a $360.00 target price (up from $340.00) on shares of Flutter Entertainment in a research report on Friday, August 8th. Stifel Nicolaus lifted their price target on shares of Flutter Entertainment from $353.00 to $356.00 and gave the stock 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 note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.