Flutter Entertainment PLC $FLUT Shares Purchased by Phoenix Financial Ltd.

Phoenix Financial Ltd. boosted its position in Flutter Entertainment PLC (NYSE:FLUT) by 0.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,620 shares of the company’s stock after purchasing an additional 78 shares during the quarter. Phoenix Financial Ltd.’s holdings in Flutter Entertainment were worth $2,749,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of FLUT. SVB Wealth LLC purchased a new stake in Flutter Entertainment in the first quarter valued at approximately $27,000. ORG Partners LLC raised its stake in Flutter Entertainment by 300.0% during the second quarter. ORG Partners LLC now owns 100 shares of the company’s stock worth $28,000 after purchasing an additional 75 shares during the period. Barrett & Company Inc. acquired a new position in shares of Flutter Entertainment in the 2nd quarter valued at $29,000. Signaturefd LLC grew its stake in shares of Flutter Entertainment by 98.5% during the 2nd quarter. Signaturefd LLC now owns 129 shares of the company’s stock valued at $37,000 after buying an additional 64 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of Flutter Entertainment by 90.6% during the 1st quarter. Farther Finance Advisors LLC now owns 183 shares of the company’s stock worth $41,000 after buying an additional 87 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FLUT. Barclays lifted their target price on Flutter Entertainment from $350.00 to $352.00 and gave the company an “overweight” rating in a report on Friday, August 8th. UBS Group reaffirmed a “buy” rating and issued a $360.00 price objective (up from $340.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Kepler Capital Markets upgraded Flutter Entertainment to a “strong-buy” rating in a report on Thursday, August 28th. Needham & Company LLC raised their price target on shares of Flutter Entertainment from $340.00 to $355.00 and gave the company a “buy” rating in a report on Friday, August 8th. Finally, Zacks Research upgraded shares of Flutter Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. 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, Flutter Entertainment has an average rating of “Moderate Buy” and an average price target of $336.00.

Insider Activity

In related news, insider James Philip Bishop sold 1,904 shares of the firm’s stock in a transaction 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Mark Taylor sold 15,283 shares of Flutter Entertainment stock in a transaction on 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 directly owned 16,589 shares in the company, valued at $4,724,547.20. This trade represents a 47.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,396 shares of company stock valued at $6,759,745 in the last 90 days. Company insiders own 0.09% of the company’s stock.

Flutter Entertainment Stock Performance

Shares of NYSE:FLUT opened at $251.22 on Wednesday. The business’s 50-day simple moving average is $277.92 and its 200 day simple moving average is $267.98. The company has a market cap of $44.24 billion, a P/E ratio of 123.75 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 PLC has a one year low of $196.88 and a one year high of $313.68.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Thursday, August 7th. The company reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.87. The firm had revenue of $4.19 billion during 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%.The business’s quarterly revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

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

About Flutter Entertainment

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.