Vontobel Holding Ltd. Sells 230,981 Shares of Flutter Entertainment PLC $FLUT

Key Points

• Vontobel Holding Ltd. sold 230,981 shares of Flutter Entertainment PLC, reducing its stake by 23.0%, owning now 775,291 shares worth approximately $215 million.
• Flutter Entertainment reported a net margin of 2.96% with earnings per share of $2.95, exceeding analysts’ estimates of $2.08, showcasing a revenue increase of 16.0% year-over-year.
• The company’s Board of Directors has authorized a $245 million share buyback, indicating a belief that its stock may be undervalued.

Vontobel Holding Ltd. cut its holdings in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 23.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 775,291 shares of the company's stock after selling 230,981 shares during the period. Vontobel Holding Ltd. owned 0.44% of Flutter Entertainment worth $215,199,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted 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 worth $715,737,000 after purchasing an additional 167,621 shares in the last quarter. Egerton Capital UK LLP lifted 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 worth $486,035,000 after purchasing an additional 316,411 shares in the last quarter. BNP Paribas Financial Markets lifted 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 worth $441,916,000 after purchasing an additional 1,322,016 shares in the last quarter. Deutsche Bank AG lifted 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 worth $409,816,000 after purchasing an additional 634,497 shares in the last quarter. Finally, Amundi lifted its stake in Flutter Entertainment by 77.3% in the 1st quarter. Amundi now owns 1,421,434 shares of the company's stock worth $309,332,000 after purchasing an additional 619,625 shares in the last quarter.

Insider Activity at Flutter Entertainment

In other news, insider Daniel Mark Taylor sold 15,283 shares of Flutter Entertainment stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $284.80, for a total transaction of $4,352,598.40. Following the sale, the insider owned 16,589 shares of the company's stock, valued at approximately $4,724,547.20. The trade was a 47.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeremy Peter Jackson sold 2,112 shares of Flutter Entertainment stock in a transaction dated Tuesday, August 19th. The shares were 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 23,396 shares of company stock worth $6,759,745. 0.09% of the stock is currently owned by company insiders.

Flutter Entertainment Price Performance

FLUT stock opened at $246.24 on Thursday. The firm's 50-day moving average price is $286.57 and its two-hundred day moving average price is $266.41. Flutter Entertainment PLC has a 12-month low of $196.88 and a 12-month high of $313.68. The stock has a market capitalization of $43.36 billion, a price-to-earnings ratio of 121.30 and a beta of 1.91. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $2.95 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.87. The firm had revenue of $4.19 billion for the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. 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, equities analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share 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 reacquire up to 0.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Zacks Research upgraded shares of Flutter Entertainment from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. Stifel Nicolaus raised their price objective on shares of Flutter Entertainment from $353.00 to $356.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Citigroup restated a "buy" rating on shares of Flutter Entertainment in a research report on Thursday, August 14th. Barclays raised their price objective on shares of Flutter Entertainment from $350.00 to $352.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Finally, UBS Group restated a "buy" rating and set a $360.00 price objective (up previously from $340.00) on shares of Flutter Entertainment in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $337.32.

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.

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