Vident Advisory LLC acquired a new stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,534 shares of the company's stock, valued at approximately $561,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its stake in Flutter Entertainment by 5.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,230,587 shares of the company's stock valued at $715,737,000 after acquiring an additional 167,621 shares during the period. Egerton Capital UK LLP raised its stake in Flutter Entertainment by 16.9% in the 1st quarter. Egerton Capital UK LLP now owns 2,193,794 shares of the company's stock valued at $486,035,000 after acquiring an additional 316,411 shares during the period. BNP Paribas Financial Markets raised its stake in Flutter Entertainment by 196.5% in the 1st quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company's stock valued at $441,916,000 after acquiring an additional 1,322,016 shares during the period. Deutsche Bank AG raised its stake in Flutter Entertainment by 52.2% in the 1st quarter. Deutsche Bank AG now owns 1,849,769 shares of the company's stock valued at $409,816,000 after acquiring an additional 634,497 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Flutter Entertainment during the first quarter valued at about $289,627,000.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the company. JMP Securities upped their price target on Flutter Entertainment from $323.00 to $345.00 and gave the company a "market outperform" rating in a research report on Friday, August 8th. Canaccord Genuity Group upped their price target on Flutter Entertainment from $330.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Jefferies Financial Group assumed coverage on Flutter Entertainment in a research report on Tuesday, July 8th. They set a "buy" rating and a $380.00 price target on the stock. Benchmark reiterated a "buy" rating and set a $365.00 price target (up from $300.00) on shares of Flutter Entertainment in a research report on Friday, August 8th. Finally, Stifel Nicolaus upped their price target on Flutter Entertainment from $353.00 to $356.00 and gave the company a "buy" rating in a research report on Friday, August 8th. One research 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $332.70.
Get Our Latest Stock Report on FLUT
Insider Transactions at Flutter Entertainment
In other Flutter Entertainment news, insider Daniel Mark Taylor sold 15,283 shares of the company'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 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 $4,724,547.20. This represents a 47.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $536,242.56. Following the sale, the insider directly owned 4,712 shares of the company's stock, valued at approximately $1,327,087.68. This trade represents a 28.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,396 shares of company stock worth $6,759,745 in the last three months. Corporate insiders own 0.09% of the company's stock.
Flutter Entertainment Stock Up 1.0%
FLUT stock opened at $295.19 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95. The company's 50 day moving average is $296.23 and its 200 day moving average is $263.41. The stock 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 1-year low of $196.88 and a 1-year high of $313.68.
Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $4.19 billion for the quarter, compared to analysts' expectations of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. Flutter Entertainment's revenue for the quarter was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. Sell-side analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.
Flutter Entertainment announced that its board has authorized a share repurchase plan on Friday, August 8th that authorizes the company to buyback $245.00 million in shares. This buyback authorization authorizes the company to reacquire up to 0.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.
Flutter Entertainment Company Profile
(
Free Report)
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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