Wealth Enhancement Advisory Services LLC bought a new position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,210 shares of the company's stock, valued at approximately $621,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Flutter Entertainment by 326.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,243 shares of the company's stock worth $742,000 after buying an additional 2,483 shares during the last quarter. Whalen Wealth Management Inc. purchased a new position in shares of Flutter Entertainment in the 1st quarter worth approximately $380,000. Rubicon Global Capital Ltd boosted its stake in shares of Flutter Entertainment by 56.1% in the 1st quarter. Rubicon Global Capital Ltd now owns 70,250 shares of the company's stock worth $15,564,000 after buying an additional 25,250 shares during the last quarter. Bessemer Group Inc. lifted its stake in Flutter Entertainment by 0.6% in the first quarter. Bessemer Group Inc. now owns 397,297 shares of the company's stock valued at $88,021,000 after purchasing an additional 2,478 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in Flutter Entertainment by 1.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company's stock valued at $1,060,000 after purchasing an additional 67 shares during the last quarter.
Insider Activity at Flutter Entertainment
In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 2,112 shares of the firm's stock in a transaction dated 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 in the company, valued at $9,341,064.48. This trade represents a 6.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider James Philip Bishop sold 1,904 shares of Flutter Entertainment stock in a transaction that occurred on Monday, August 11th. The shares were 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 of the company's stock, valued at $1,327,087.68. The trade was a 28.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,396 shares of company stock valued at $6,759,745. 0.09% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several equities analysts recently commented on the company. UBS Group reiterated a "buy" rating and issued a $360.00 price objective (up previously from $340.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Citigroup restated a "buy" rating on shares of Flutter Entertainment in a research report on Thursday, August 14th. BTIG Research reduced their target price on Flutter Entertainment from $357.00 to $324.00 and set a "buy" rating for the company in a research report on Thursday. Weiss Ratings restated a "hold (c-)" rating on shares of Flutter Entertainment in a research note on Saturday, September 27th. Finally, Peel Hunt cut Flutter Entertainment from an "add" rating to a "hold" rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $337.32.
Get Our Latest Report on FLUT
Flutter Entertainment Stock Up 2.7%
Shares of NYSE:FLUT opened at $256.31 on Friday. The stock's 50-day moving average price is $290.24 and its 200-day moving average price is $266.53. 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 $45.14 billion, a P/E ratio of 126.26 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 quarterly earnings data on Thursday, August 7th. The company reported $2.95 earnings per share (EPS) 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 analysts' expectations of $3.06 billion. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.Flutter Entertainment's revenue for the quarter 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 anticipate that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.
Flutter Entertainment declared that its Board of Directors has authorized a share repurchase program on Friday, August 8th that permits the company to repurchase $245.00 million in shares. This repurchase authorization permits the company to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.
Flutter Entertainment 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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Want to see what other hedge funds are holding FLUT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flutter Entertainment PLC (NYSE:FLUT - Free Report).
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