Ritholtz Wealth Management Grows Stock Position in Flutter Entertainment PLC $FLUT

Ritholtz Wealth Management raised its holdings in Flutter Entertainment PLC (NYSE:FLUT) by 11.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,850 shares of the company’s stock after buying an additional 184 shares during the quarter. Ritholtz Wealth Management’s holdings in Flutter Entertainment were worth $529,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its holdings in shares of 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 valued at $715,737,000 after purchasing an additional 167,621 shares during the period. Egerton Capital UK LLP increased its holdings in shares of Flutter Entertainment by 16.9% in the first quarter. Egerton Capital UK LLP now owns 2,193,794 shares of the company’s stock valued at $486,035,000 after purchasing an additional 316,411 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Flutter Entertainment by 196.5% in the first quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company’s stock valued at $441,916,000 after purchasing an additional 1,322,016 shares during the period. Deutsche Bank AG increased its holdings in shares of Flutter Entertainment by 52.2% in the first quarter. Deutsche Bank AG now owns 1,849,769 shares of the company’s stock valued at $409,816,000 after purchasing an additional 634,497 shares during the period. Finally, Amundi increased its holdings in shares of Flutter Entertainment by 77.3% in the first quarter. Amundi now owns 1,421,434 shares of the company’s stock valued at $309,332,000 after purchasing an additional 619,625 shares during the period.

Flutter Entertainment Stock Up 0.8%

Flutter Entertainment stock opened at $251.97 on Monday. The firm has a market cap of $44.37 billion, a price-to-earnings ratio of 124.12 and a beta of 1.91. Flutter Entertainment PLC has a 52 week low of $196.88 and a 52 week high of $313.68. The business’s 50-day moving average price is $279.33 and its 200 day moving average price is $267.78. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, topping the consensus estimate of $2.08 by $0.87. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The firm had revenue of $4.19 billion for the quarter, compared to analyst estimates of $3.06 billion. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on FLUT shares. Stifel Nicolaus increased their price objective on Flutter Entertainment from $353.00 to $356.00 and gave the company a “buy” rating in a report on Friday, August 8th. UBS Group reissued a “buy” rating and issued a $360.00 price objective (up from $340.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Kepler Capital Markets raised Flutter Entertainment to a “strong-buy” rating in a report on Thursday, August 28th. BTIG Research dropped their target price on Flutter Entertainment from $357.00 to $324.00 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Finally, Zacks Research raised Flutter Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $336.26.

Insiders Place Their Bets

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 2,112 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total value of $617,591.04. Following the sale, the chief executive officer directly owned 31,944 shares of the company’s stock, valued at approximately $9,341,064.48. This trade 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 accessible through this hyperlink. Also, CEO Amy Howe sold 4,097 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $305.91, for a total value of $1,253,313.27. Following the completion of the sale, the chief executive officer directly owned 69,850 shares in the company, valued at approximately $21,367,813.50. The trade was a 5.54% decrease in their ownership of the stock. 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 three months. 0.09% of the stock is currently owned by company insiders.

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.