TD Asset Management Inc Decreases Position in Flutter Entertainment PLC $FLUT

TD Asset Management Inc lessened its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT) by 5.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,297 shares of the company’s stock after selling 1,641 shares during the period. TD Asset Management Inc’s holdings in Flutter Entertainment were worth $8,658,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FLUT. BNP Paribas Financial Markets lifted its holdings in shares of 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 purchasing an additional 1,322,016 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Flutter Entertainment during the 1st quarter valued at $289,627,000. Primecap Management Co. CA purchased a new stake in shares of Flutter Entertainment during the 1st quarter valued at $210,940,000. Alliancebernstein L.P. lifted its holdings in shares of Flutter Entertainment by 2,312.7% during the 1st quarter. Alliancebernstein L.P. now owns 844,855 shares of the company’s stock valued at $187,178,000 after purchasing an additional 809,838 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Flutter Entertainment by 376.4% during the 1st quarter. Hsbc Holdings PLC now owns 855,552 shares of the company’s stock valued at $187,304,000 after purchasing an additional 675,949 shares during the last quarter.

Insider Buying and Selling

In other Flutter Entertainment news, insider Daniel Mark Taylor sold 15,283 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $4,724,547.20. This trade represents a 47.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the stock in a transaction dated 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 in the company, valued at $9,341,064.48. This represents a 6.20% 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 over the last quarter. 0.09% of the stock is currently owned by company insiders.

Flutter Entertainment Price Performance

Shares of FLUT opened at $251.97 on Monday. The business’s 50-day moving average is $279.33 and its two-hundred day moving average is $267.78. The company has a market capitalization of $44.37 billion, a P/E ratio of 124.12 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 fifty-two week low of $196.88 and a fifty-two week high of $313.68.

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

Flutter Entertainment announced that its board has approved a share buyback plan on Friday, August 8th that allows the company to buyback $245.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 0.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

FLUT has been the subject of several analyst reports. Benchmark decreased their price objective on Flutter Entertainment from $365.00 to $310.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. Barclays raised their target price on Flutter Entertainment from $350.00 to $352.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Zacks Research upgraded Flutter Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th. Sanford C. Bernstein reduced their target price on Flutter Entertainment from $340.00 to $330.00 and set a “market perform” rating for the company in a research note on Wednesday. Finally, Citigroup restated a “buy” rating on shares of Flutter Entertainment in a research note on Thursday, August 14th. One research 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $336.26.

Flutter Entertainment Company 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.