Raymond James Financial Inc. Sells 12,433 Shares of Flutter Entertainment PLC $FLUT

Raymond James Financial Inc. trimmed its position in Flutter Entertainment PLC (NYSE:FLUT) by 40.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,544 shares of the company’s stock after selling 12,433 shares during the period. Raymond James Financial Inc.’s holdings in Flutter Entertainment were worth $4,108,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. GPS Wealth Strategies Group LLC boosted its holdings in Flutter Entertainment by 1,375.0% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company’s stock valued at $26,000 after purchasing an additional 110 shares during the period. Tower Research Capital LLC TRC bought a new position in Flutter Entertainment in the 4th quarter valued at $33,000. Parallel Advisors LLC boosted its holdings in Flutter Entertainment by 78.9% in the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company’s stock valued at $30,000 after purchasing an additional 60 shares during the period. Farther Finance Advisors LLC boosted its holdings in Flutter Entertainment by 90.6% in the 1st quarter. Farther Finance Advisors LLC now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 87 shares during the period. Finally, Harbor Investment Advisory LLC boosted its holdings in Flutter Entertainment by 43.8% in the 1st quarter. Harbor Investment Advisory LLC now owns 184 shares of the company’s stock valued at $41,000 after purchasing an additional 56 shares during the period.

Wall Street Analyst Weigh In

FLUT has been the subject of several analyst reports. UBS Group reissued a “buy” rating and issued a $360.00 price target (up from $340.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Bank of America lifted their price objective on shares of Flutter Entertainment from $295.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Flutter Entertainment in a report on Friday, August 8th. Kepler Capital Markets raised shares of Flutter Entertainment to a “strong-buy” rating in a report on Thursday, August 28th. Finally, Hsbc Global Res raised shares of Flutter Entertainment to a “hold” rating in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $332.70.

Insider Buying and Selling at Flutter Entertainment

In related news, CEO Jeremy Peter Jackson sold 2,112 shares of Flutter Entertainment stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total value of $617,591.04. Following the transaction, the chief executive officer owned 31,944 shares in the company, valued at $9,341,064.48. This trade represents a 6.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the transaction, the insider owned 16,589 shares in the company, valued at approximately $4,724,547.20. The trade was a 47.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,396 shares of company stock worth $6,759,745 in the last 90 days. 0.09% of the stock is owned by company insiders.

Flutter Entertainment Stock Performance

NYSE FLUT opened at $295.19 on Friday. Flutter Entertainment PLC has a 52-week low of $196.88 and a 52-week high of $313.68. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $51.98 billion, a P/E ratio of 145.41, a P/E/G ratio of 1.42 and a beta of 2.29. The company has a fifty day moving average of $296.23 and a 200-day moving average of $263.61.

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

Flutter Entertainment declared that its Board of Directors has approved a share repurchase 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 generally an indication that the company’s leadership 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.