Flutter Entertainment PLC $FLUT Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. has reduced its stake in Flutter Entertainment PLC by 40.1%, selling 12,433 shares and retaining 18,544 shares valued at $4.1 million.
• Several large investors have significantly increased their holdings in Flutter, with GPS Wealth Strategies boosting theirs by 1,375% this quarter, showing strong interest in the stock.
• Flutter’s stock has received favorable analyst evaluations, with UBS and Bank of America giving it a “buy” rating, and the stock has a consensus price target of $332.70.

Raymond James Financial Inc. reduced its stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 40.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,544 shares of the company's stock after selling 12,433 shares during the quarter. Raymond James Financial Inc.'s holdings in Flutter Entertainment were worth $4,108,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. PARUS FINANCE UK Ltd increased its stake in shares of Flutter Entertainment by 1.5% during the first quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company's stock worth $742,000 after buying an additional 50 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Flutter Entertainment by 3.0% during the first quarter. Sequoia Financial Advisors LLC now owns 1,836 shares of the company's stock worth $407,000 after buying an additional 53 shares during the period. Harbor Investment Advisory LLC increased its stake in shares of Flutter Entertainment by 43.8% during the first quarter. Harbor Investment Advisory LLC now owns 184 shares of the company's stock worth $41,000 after buying an additional 56 shares during the period. Parallel Advisors LLC increased its stake in Flutter Entertainment by 78.9% in the first quarter. Parallel Advisors LLC now owns 136 shares of the company's stock valued at $30,000 after purchasing an additional 60 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in Flutter Entertainment by 1.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company's stock worth $1,060,000 after purchasing an additional 67 shares in the last quarter.

Insider Buying and Selling

In other Flutter Entertainment news, insider Daniel Mark Taylor sold 15,283 shares of the firm's stock in a transaction on Monday, August 11th. The stock was 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 approximately $4,724,547.20. This trade represents a 47.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total value of $617,591.04. Following the completion of the sale, the chief executive officer directly owned 31,944 shares of the company's stock, valued at approximately $9,341,064.48. This trade represents a 6.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,396 shares of company stock valued at $6,759,745 in the last ninety days. Company insiders own 0.09% of the company's stock.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT traded down $7.52 during mid-day trading on Monday, hitting $287.76. 2,459,607 shares of the company were exchanged, compared to its average volume of 1,522,570. 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 simple moving average of $296.27 and a 200-day simple moving average of $263.35. Flutter Entertainment PLC has a 1-year low of $196.88 and a 1-year high of $313.68. The firm has a market cap of $50.67 billion, a price-to-earnings ratio of 141.75 and a beta of 2.30.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.87. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment's quarterly revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FLUT shares. UBS Group restated a "buy" rating and issued a $360.00 target price (up previously from $340.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Oppenheimer upped 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. Bank of America upped their target price 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. Citigroup restated a "buy" rating on shares of Flutter Entertainment in a research report on Thursday, August 14th. Finally, Sanford C. Bernstein restated a "market perform" rating on shares of Flutter Entertainment in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Flutter Entertainment has a consensus rating of "Moderate Buy" and an average price target of $332.70.

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.