Verdence Capital Advisors LLC Sells 661 Shares of Flutter Entertainment PLC $FLUT

Verdence Capital Advisors LLC lessened its stake in Flutter Entertainment PLC (NYSE:FLUT) by 22.8% during the second quarter, HoldingsChannel reports. The firm owned 2,234 shares of the company’s stock after selling 661 shares during the period. Verdence Capital Advisors LLC’s holdings in Flutter Entertainment were worth $638,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its holdings in Flutter Entertainment by 5.5% during 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 holdings in Flutter Entertainment by 16.9% during 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 holdings in Flutter Entertainment by 196.5% during 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 holdings in Flutter Entertainment by 52.2% during 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, Amundi raised its holdings in Flutter Entertainment by 77.3% during the 1st quarter. Amundi now owns 1,421,434 shares of the company’s stock valued at $309,332,000 after acquiring an additional 619,625 shares during the period.

Flutter Entertainment Stock Up 0.3%

Shares of NYSE:FLUT opened at $250.53 on Wednesday. Flutter Entertainment PLC has a 52-week low of $196.88 and a 52-week high of $313.68. The firm has a fifty day moving average of $282.19 and a 200 day moving average of $266.89. The firm has a market capitalization of $44.12 billion, a PE ratio of 123.41 and a beta of 1.91. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Thursday, August 7th. The company reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.87. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company had revenue of $4.19 billion during the quarter, compared to analyst estimates of $3.06 billion. The firm’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. As a group, research analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment announced that its board has initiated a stock repurchase plan on Friday, August 8th that allows the company to buyback $245.00 million in shares. This buyback authorization allows the company to repurchase up to 0.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Flutter Entertainment

In related news, insider Daniel Mark Taylor sold 15,283 shares of the company’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $284.80, for a total value of $4,352,598.40. Following the completion of the transaction, the insider directly owned 16,589 shares in the company, valued at approximately $4,724,547.20. The trade was a 47.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Philip Bishop sold 1,904 shares of the company’s stock in a transaction 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 completion of the transaction, the insider owned 4,712 shares of the company’s stock, valued at $1,327,087.68. This trade represents a 28.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,396 shares of company stock valued at $6,759,745 over the last ninety days. 0.09% of the stock is currently owned by insiders.

Analyst Ratings Changes

FLUT has been the topic of a number of analyst reports. UBS Group reissued a “buy” rating and set a $360.00 target price (up previously from $340.00) on shares of Flutter Entertainment in a report on Friday, August 8th. JMP Securities lowered their target price on shares of Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating on the stock in a report on Wednesday, October 1st. Sanford C. Bernstein reissued a “market perform” rating on shares of Flutter Entertainment in a report on Friday, August 8th. Citigroup reissued a “buy” rating on shares of Flutter Entertainment in a report on Thursday, August 14th. Finally, Stifel Nicolaus upped their price target on shares of Flutter Entertainment from $353.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $336.26.

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.