Freedom Investment Management Inc. Sells 277 Shares of Flutter Entertainment PLC $FLUT

Freedom Investment Management Inc. decreased its position in Flutter Entertainment PLC (NYSE:FLUT) by 11.9% during the second quarter, Holdings Channel reports. The fund owned 2,054 shares of the company’s stock after selling 277 shares during the period. Freedom Investment Management Inc.’s holdings in Flutter Entertainment were worth $587,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Massachusetts Financial Services Co. MA increased its position in Flutter Entertainment by 5.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,230,587 shares of the company’s stock worth $715,737,000 after buying an additional 167,621 shares in the last quarter. Egerton Capital UK LLP increased its position in Flutter Entertainment by 16.9% in the first quarter. Egerton Capital UK LLP now owns 2,193,794 shares of the company’s stock worth $486,035,000 after buying an additional 316,411 shares in the last quarter. BNP Paribas Financial Markets increased its position in Flutter Entertainment by 196.5% in the first quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company’s stock worth $441,916,000 after buying an additional 1,322,016 shares in the last quarter. Deutsche Bank AG increased its position in Flutter Entertainment by 52.2% in the first quarter. Deutsche Bank AG now owns 1,849,769 shares of the company’s stock worth $409,816,000 after buying an additional 634,497 shares in the last quarter. Finally, Amundi increased its position in Flutter Entertainment by 77.3% in the first quarter. Amundi now owns 1,421,434 shares of the company’s stock worth $309,332,000 after buying an additional 619,625 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have commented on FLUT. Canaccord Genuity Group upped their price target on Flutter Entertainment from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Sanford C. Bernstein reduced their price target on Flutter Entertainment from $340.00 to $330.00 and set a “market perform” rating for the company in a research report on Wednesday, October 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Flutter Entertainment in a research report on Saturday. JMP Securities cut their target price on Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating for the company in a research report on Wednesday, October 1st. Finally, Citigroup reiterated a “buy” rating on shares of Flutter Entertainment in a research report on Thursday, August 14th. One 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 stock. According to data from MarketBeat, Flutter Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $336.00.

Insider Transactions at Flutter Entertainment

In other news, CEO Amy Howe sold 4,097 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $305.91, for a total transaction of $1,253,313.27. Following the sale, the chief executive officer directly owned 69,850 shares of the company’s stock, valued at $21,367,813.50. This represents a 5.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Philip Bishop sold 1,904 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $281.64, for a total value of $536,242.56. Following the sale, the insider directly owned 4,712 shares in the company, 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 sold 23,396 shares of company stock valued at $6,759,745 over the last 90 days. Insiders own 0.09% of the company’s stock.

Flutter Entertainment Stock Performance

NYSE FLUT opened at $244.09 on Friday. The stock has a market capitalization of $42.98 billion, a PE ratio of 120.24 and a beta of 1.91. The business has a 50 day simple moving average of $275.32 and a two-hundred day simple moving average of $268.73. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. 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 data 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. The business 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%.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. On average, research analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has initiated a stock buyback program on Friday, August 8th that permits the company to buyback $245.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 0.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.