Scientech Research LLC Raises Holdings in Flutter Entertainment PLC $FLUT

Key Points

• Scientech Research LLC has increased its holdings in Flutter Entertainment PLC by 39.3%, owning a total of 7,659 shares valued at $1,697,000.
• Several hedge funds, including Ameriprise Financial Inc., significantly increased their stakes in Flutter Entertainment during the fourth quarter, reflecting growing confidence among institutional investors.
• Flutter Entertainment reported stronger-than-expected quarterly earnings, with EPS of $2.95, exceeding analysts' estimates by $0.87, alongside a revenue of $4.19 billion.

Scientech Research LLC grew its position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 39.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,659 shares of the company's stock after buying an additional 2,162 shares during the quarter. Flutter Entertainment accounts for 0.4% of Scientech Research LLC's holdings, making the stock its 21st largest holding. Scientech Research LLC's holdings in Flutter Entertainment were worth $1,697,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in FLUT. Tower Research Capital LLC TRC purchased a new stake in shares of Flutter Entertainment in the 4th quarter worth $33,000. Ameriprise Financial Inc. lifted its stake in shares of Flutter Entertainment by 1,159.6% during the 4th quarter. Ameriprise Financial Inc. now owns 228,447 shares of the company's stock worth $59,042,000 after purchasing an additional 210,310 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Flutter Entertainment by 43.7% during the 4th quarter. Benjamin Edwards Inc. now owns 1,693 shares of the company's stock worth $438,000 after purchasing an additional 515 shares during the last quarter. Centiva Capital LP purchased a new stake in shares of Flutter Entertainment during the 4th quarter worth $582,000. Finally, Cetera Investment Advisers lifted its stake in shares of Flutter Entertainment by 172.1% during the 4th quarter. Cetera Investment Advisers now owns 11,291 shares of the company's stock worth $2,918,000 after purchasing an additional 7,141 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FLUT shares. Sanford C. Bernstein restated a "market perform" rating on shares of Flutter Entertainment in a research note on Friday, August 8th. Oppenheimer upped their price objective on Flutter Entertainment from $310.00 to $350.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Kepler Capital Markets upgraded Flutter Entertainment to a "strong-buy" rating in a research note on Thursday, August 28th. Benchmark restated a "buy" rating and set a $365.00 price objective (up from $300.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Finally, Citigroup restated a "buy" rating on shares of Flutter Entertainment in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $332.70.

Insiders Place Their Bets

In other Flutter Entertainment news, insider James Philip Bishop sold 1,904 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $281.64, for a total transaction of $536,242.56. Following the transaction, the insider owned 4,712 shares in the company, valued at approximately $1,327,087.68. This represents a 28.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer owned 31,944 shares in the company, 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. Over the last ninety days, insiders have sold 23,396 shares of company stock worth $6,759,745. Company insiders own 0.09% of the company's stock.

Flutter Entertainment Stock Up 1.0%

Flutter Entertainment stock opened at $295.19 on Friday. The firm has a market cap of $51.98 billion, a price-to-earnings ratio of 145.41, a price-to-earnings-growth ratio of 1.43 and a beta of 2.29. Flutter Entertainment PLC has a 52 week low of $196.88 and a 52 week high of $313.68. The business's 50-day moving average price is $296.23 and its 200 day moving average price is $263.41. 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.87. The company had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The business's quarterly 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 anticipate that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment declared that its board has authorized a stock repurchase plan on Friday, August 8th that permits the company to repurchase $245.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is 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.

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