Flutter Entertainment PLC $FLUT Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC reduced its position in Flutter Entertainment PLC by 27.4%, holding 7,181 shares valued at $1.59 million after selling 2,706 shares in the first quarter.
• Multiple hedge funds have increased their stakes in Flutter Entertainment, with Harbor Investment Advisory LLC boosting its position by 43.8% during the same period.
• Flutter Entertainment saw its stock rated as a "Moderate Buy" with a consensus price target of $332.70 from various analysts, while its recent quarterly earnings exceeded expectations at $2.95 earnings per share.

Rafferty Asset Management LLC lessened its holdings in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 27.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,181 shares of the company's stock after selling 2,706 shares during the period. Rafferty Asset Management LLC's holdings in Flutter Entertainment were worth $1,591,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. GPS Wealth Strategies Group LLC increased its holdings in shares of Flutter Entertainment by 1,375.0% in 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 bought a new stake in shares of Flutter Entertainment in the 1st quarter worth about $27,000. Tower Research Capital LLC TRC bought a new stake in Flutter Entertainment during the fourth quarter worth approximately $33,000. Parallel Advisors LLC increased its stake in Flutter Entertainment by 78.9% during the first quarter. Parallel Advisors LLC now owns 136 shares of the company's stock worth $30,000 after acquiring an additional 60 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in Flutter Entertainment by 90.6% during the first quarter. Farther Finance Advisors LLC now owns 183 shares of the company's stock worth $41,000 after acquiring an additional 87 shares during the last quarter.

Insider Buying and Selling at Flutter Entertainment

In other news, insider James Philip Bishop sold 1,904 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $1,327,087.68. This trade represents a 28.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amy Howe sold 4,097 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 69,850 shares in the company, valued at approximately $21,367,813.50. This represents a 5.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,396 shares of company stock valued at $6,759,745 in the last 90 days. Insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FLUT shares. Citigroup reissued a "buy" rating on shares of Flutter Entertainment in a research report on Thursday, August 14th. Bank of America boosted their price objective on shares of Flutter Entertainment from $295.00 to $330.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Kepler Capital Markets upgraded shares of Flutter Entertainment to a "strong-buy" rating in a report on Thursday, August 28th. Hsbc Global Res upgraded shares of Flutter Entertainment to a "hold" rating in a report on Wednesday, June 18th. Finally, Benchmark reiterated a "buy" rating and set a $365.00 price target (up from $300.00) on shares of Flutter Entertainment in a report on Friday, August 8th. One equities research 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 stock. According to MarketBeat.com, Flutter Entertainment presently has an average rating of "Moderate Buy" and an average price target of $332.70.

Flutter Entertainment Trading Down 0.5%

NYSE:FLUT traded down $1.44 during midday trading on Thursday, hitting $292.99. The stock had a trading volume of 2,259,827 shares, compared to its average volume of 2,276,156. Flutter Entertainment PLC has a one year low of $196.88 and a one year high of $313.68. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock has a 50-day moving average of $295.48 and a 200 day moving average of $263.64. The company has a market capitalization of $51.60 billion, a price-to-earnings ratio of 144.33, a PEG ratio of 1.49 and a beta of 2.29.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly 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. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $3.06 billion. The business's 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, sell-side analysts forecast that Flutter Entertainment PLC will post 4.17 EPS for the current year.

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

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.