Flutter Entertainment PLC $FLUT Shares Purchased by Quantbot Technologies LP

Key Points

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Quantbot Technologies LP increased its position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 37.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,578 shares of the company's stock after acquiring an additional 5,894 shares during the period. Quantbot Technologies LP's holdings in Flutter Entertainment were worth $4,781,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GPS Wealth Strategies Group LLC boosted its stake 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 valued at $26,000 after purchasing an additional 110 shares during the period. Parallel Advisors LLC lifted its holdings in Flutter Entertainment by 78.9% during the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company's stock worth $30,000 after buying an additional 60 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Flutter Entertainment in the 4th quarter valued at approximately $33,000. TD Waterhouse Canada Inc. acquired a new position in shares of Flutter Entertainment in the fourth quarter worth $36,000. Finally, Harbor Investment Advisory LLC grew its stake in shares of Flutter Entertainment by 43.8% in the first quarter. Harbor Investment Advisory LLC now owns 184 shares of the company's stock worth $41,000 after acquiring an additional 56 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on FLUT shares. Needham & Company LLC increased their price objective on Flutter Entertainment from $340.00 to $355.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Truist Financial increased their price target on Flutter Entertainment from $280.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Macquarie lifted their price objective on Flutter Entertainment from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Bank of America upped their target price on shares of Flutter Entertainment from $295.00 to $330.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Oppenheimer raised their target price 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. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $332.70.

Flutter Entertainment Stock Up 1.5%

Shares of NYSE:FLUT traded up $4.3870 during trading on Friday, hitting $299.3870. 748,703 shares of the company were exchanged, compared to its average volume of 2,136,639. The firm's 50 day moving average price is $290.29 and its 200-day moving average price is $262.08. Flutter Entertainment PLC has a 12-month low of $196.88 and a 12-month high of $313.68. 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 stock has a market capitalization of $52.72 billion, a P/E ratio of 147.48, a PEG ratio of 1.43 and a beta of 2.31.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $3.06 billion. The firm's quarterly revenue was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, research analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Flutter Entertainment announced that its board has approved a stock repurchase plan on Friday, August 8th that allows the company to repurchase $245.00 million in shares. This repurchase authorization allows the company to reacquire up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Transactions at Flutter Entertainment

In related news, insider Daniel Mark Taylor sold 15,283 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $284.80, for a total transaction of $4,352,598.40. Following the transaction, the insider owned 16,589 shares in the company, valued at $4,724,547.20. This trade represents a 47.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christine M. Mccarthy sold 264 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $244.12, for a total value of $64,447.68. Following the transaction, the director owned 559 shares in the company, valued at $136,463.08. This represents a 32.08% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,754 shares of company stock worth $6,108,064. Insiders own 0.09% of the company's stock.

Flutter Entertainment 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.