Flutter Entertainment PLC $FLUT Holdings Raised by Rhumbline Advisers

Key Points

• Rhumbline Advisers increased its holdings in Flutter Entertainment PLC by 5.4%, acquiring an additional 1,216 shares and bringing total ownership to 23,806 shares worth $5.27 million.
• Flutter Entertainment reported strong quarterly earnings with $2.95 EPS, exceeding estimates, and a 16% increase in revenue year-over-year, totaling $4.19 billion.
• The company's board authorized a share buyback plan enabling the repurchase of up to $245 million in outstanding shares, indicating confidence in the stock’s value.

Rhumbline Advisers grew its position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 5.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,806 shares of the company's stock after acquiring an additional 1,216 shares during the quarter. Rhumbline Advisers' holdings in Flutter Entertainment were worth $5,274,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FLUT. PARUS FINANCE UK Ltd lifted its holdings 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 purchasing an additional 50 shares during the period. Sequoia Financial Advisors LLC lifted its holdings 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 purchasing an additional 53 shares during the period. Harbor Investment Advisory LLC lifted its holdings 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 purchasing an additional 56 shares during the period. Parallel Advisors LLC lifted its holdings in shares of 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 purchasing an additional 60 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of 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 during the period.

Flutter Entertainment Trading Up 1.3%

NYSE:FLUT traded up $3.72 during mid-day trading on Thursday, reaching $282.70. The company's stock had a trading volume of 1,268,746 shares, compared to its average volume of 1,535,507. The company's fifty day simple moving average is $296.48 and its two-hundred day simple moving average is $264.20. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. Flutter Entertainment PLC has a twelve month low of $196.88 and a twelve month high of $313.68. The stock has a market cap of $49.78 billion, a P/E ratio of 139.26 and a beta of 2.29.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.87. The business 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 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, equities analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment announced that its board has initiated a stock 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 stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 2,112 shares of Flutter Entertainment stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total transaction of $617,591.04. Following the sale, 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 through the SEC website. Also, insider James Philip Bishop sold 1,904 shares of Flutter Entertainment 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 sale, the insider owned 4,712 shares in the company, valued at $1,327,087.68. This represents a 28.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,396 shares of company stock valued at $6,759,745. Insiders own 0.09% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Hsbc Global Res upgraded Flutter Entertainment to a "hold" rating in a research report on Wednesday, June 18th. Oppenheimer increased their price objective on Flutter Entertainment from $310.00 to $350.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Macquarie increased their price objective on Flutter Entertainment from $320.00 to $340.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Benchmark reiterated a "buy" rating and issued a $365.00 price objective (up previously from $300.00) on shares of Flutter Entertainment in a research report on Friday, August 8th. Finally, Sanford C. Bernstein reiterated 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 issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $332.70.

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.