Flutter Entertainment PLC $FLUT Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its stake in Flutter Entertainment PLC (NYSE:FLUT) by 4.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 26,974 shares of the company’s stock after acquiring an additional 1,154 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Flutter Entertainment were worth $7,708,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in 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 valued at $742,000 after acquiring an additional 2,483 shares during the period. Whalen Wealth Management Inc. acquired a new stake in Flutter Entertainment in the 1st quarter valued at $380,000. Rubicon Global Capital Ltd boosted its stake in Flutter Entertainment by 56.1% during the 1st quarter. Rubicon Global Capital Ltd now owns 70,250 shares of the company’s stock worth $15,564,000 after purchasing an additional 25,250 shares during the last quarter. Bessemer Group Inc. boosted its stake in Flutter Entertainment by 0.6% during the 1st quarter. Bessemer Group Inc. now owns 397,297 shares of the company’s stock worth $88,021,000 after purchasing an additional 2,478 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Flutter Entertainment by 1.4% during the 1st 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 last quarter.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 2,112 shares of the business’s 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. This represents a 6.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Mark Taylor sold 15,283 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was 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 in the company, valued at $4,724,547.20. This trade represents a 47.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,396 shares of company stock valued at $6,759,745 over the last three months. 0.09% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FLUT shares. JMP Securities lifted their target price on shares of Flutter Entertainment from $323.00 to $345.00 and gave the stock a “market outperform” rating in a research note on Friday, August 8th. Kepler Capital Markets raised shares of Flutter Entertainment to a “strong-buy” rating in a research note on Thursday, August 28th. Oppenheimer lifted their target price on shares of Flutter Entertainment from $310.00 to $350.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Benchmark reaffirmed a “buy” rating and set a $365.00 target price (up previously from $300.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Finally, Citigroup reaffirmed a “buy” rating on shares of Flutter Entertainment in a research note on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $332.70.

Flutter Entertainment Stock Up 1.3%

Shares of NYSE:FLUT opened at $282.70 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $49.78 billion, a PE ratio of 139.26 and a beta of 2.29. The firm’s 50-day moving average is $296.48 and its two-hundred day moving average is $264.20. Flutter Entertainment PLC has a 1 year low of $196.88 and a 1 year high of $313.68.

Flutter Entertainment (NYSE:FLUT) 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 analyst estimates 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% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. Analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment declared that its Board of Directors has approved a share buyback program on Friday, August 8th that authorizes the company to buyback $245.00 million in shares. This buyback authorization authorizes the company to purchase up to 0.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.