Sequoia Financial Advisors LLC Boosts Stake in Flutter Entertainment PLC $FLUT

Sequoia Financial Advisors LLC raised its holdings in shares of Flutter Entertainment PLC (NYSE:FLUTFree Report) by 70.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,125 shares of the company’s stock after acquiring an additional 1,289 shares during the period. Sequoia Financial Advisors LLC’s holdings in Flutter Entertainment were worth $893,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA grew its position in Flutter Entertainment by 5.5% during 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 grew its position in Flutter Entertainment by 16.9% during 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 lifted its stake in Flutter Entertainment by 196.5% during the first quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company’s stock worth $441,916,000 after purchasing an additional 1,322,016 shares during the last quarter. Deutsche Bank AG lifted its stake in Flutter Entertainment by 52.2% during the first quarter. Deutsche Bank AG now owns 1,849,769 shares of the company’s stock worth $409,816,000 after purchasing an additional 634,497 shares during the last quarter. Finally, Amundi lifted its stake in Flutter Entertainment by 77.3% during the first quarter. Amundi now owns 1,421,434 shares of the company’s stock worth $309,332,000 after purchasing an additional 619,625 shares during the last quarter.

Insiders Place Their Bets

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 2,112 shares of the company’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 transaction of $617,591.04. Following the completion of the transaction, the chief executive officer owned 31,944 shares of the company’s stock, valued at $9,341,064.48. This represents a 6.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $281.64, for a total value of $536,242.56. Following the transaction, the insider directly owned 4,712 shares of the company’s stock, valued at $1,327,087.68. The trade was a 28.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,396 shares of company stock worth $6,759,745. 0.09% of the stock is currently owned by company insiders.

Flutter Entertainment Trading Up 0.8%

NYSE FLUT opened at $251.97 on Friday. Flutter Entertainment PLC has a 1-year low of $196.88 and a 1-year high of $313.68. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock has a 50-day moving average of $279.33 and a 200-day moving average of $267.43. The firm has a market cap of $44.37 billion, a PE ratio of 124.12 and a beta of 1.91.

Flutter Entertainment (NYSE:FLUTGet Free Report) last released its earnings results on Thursday, August 7th. The company reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.87. The company had revenue of $4.19 billion during the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The company’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 forecast that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment declared that its board has authorized a share repurchase program on Friday, August 8th that permits the company to buyback $245.00 million in outstanding shares. This buyback authorization permits the company to buy up to 0.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Oppenheimer dropped their price target on Flutter Entertainment from $350.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday. Jefferies Financial Group assumed coverage on Flutter Entertainment in a research note on Tuesday, July 8th. They set a “buy” rating and a $380.00 price target for the company. Macquarie lifted their price target on Flutter Entertainment from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Benchmark dropped their price target on Flutter Entertainment from $365.00 to $310.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Kepler Capital Markets raised Flutter Entertainment to a “strong-buy” rating in a research note on Thursday, August 28th. 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $336.26.

View Our Latest Research Report on FLUT

Flutter Entertainment Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding FLUT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flutter Entertainment PLC (NYSE:FLUTFree Report).

Institutional Ownership by Quarter for Flutter Entertainment (NYSE:FLUT)

Receive News & Ratings for Flutter Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flutter Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.