Farther Finance Advisors LLC Boosts Stock Position in Flutter Entertainment PLC $FLUT

Farther Finance Advisors LLC lifted its holdings in Flutter Entertainment PLC (NYSE:FLUT) by 65.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 302 shares of the company’s stock after purchasing an additional 119 shares during the quarter. Farther Finance Advisors LLC’s holdings in Flutter Entertainment were worth $86,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of FLUT. GAMMA Investing LLC grew its holdings in shares of Flutter Entertainment by 22,057.1% in the first quarter. GAMMA Investing LLC now owns 3,102 shares of the company’s stock valued at $687,000 after purchasing an additional 3,088 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Flutter Entertainment by 78.9% in the first quarter. Parallel Advisors LLC now owns 136 shares of the company’s stock valued at $30,000 after purchasing an additional 60 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Flutter Entertainment by 5.4% in the first quarter. Rhumbline Advisers now owns 23,806 shares of the company’s stock valued at $5,274,000 after purchasing an additional 1,216 shares in the last quarter. Independence Bank of Kentucky grew its holdings in shares of Flutter Entertainment by 93.1% in the first quarter. Independence Bank of Kentucky now owns 3,868 shares of the company’s stock valued at $857,000 after purchasing an additional 1,865 shares in the last quarter. Finally, Yousif Capital Management LLC grew its holdings in shares of Flutter Entertainment by 2.8% in the first quarter. Yousif Capital Management LLC now owns 3,628 shares of the company’s stock valued at $804,000 after purchasing an additional 98 shares in the last quarter.

Flutter Entertainment Stock Up 2.7%

NYSE:FLUT opened at $256.31 on Friday. Flutter Entertainment PLC has a twelve month low of $196.88 and a twelve month high of $313.68. The company has a market cap of $45.14 billion, a price-to-earnings ratio of 126.26 and a beta of 1.91. The stock has a fifty day simple moving average of $290.24 and a 200-day simple moving average of $266.53. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last released its 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. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The business had revenue of $4.19 billion during the quarter, compared to the consensus estimate 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. Analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment announced that its board has authorized a stock repurchase plan on Friday, August 8th that permits the company to repurchase $245.00 million in shares. This repurchase authorization permits the company to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FLUT. Macquarie raised their target price on shares of Flutter Entertainment from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of Flutter Entertainment in a report on Saturday, September 27th. UBS Group reissued a “buy” rating and issued a $360.00 target price (up from $340.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Peel Hunt lowered shares of Flutter Entertainment from an “add” rating to a “hold” rating in a research note on Friday, August 8th. Finally, Barclays lifted their price objective on shares of Flutter Entertainment from $350.00 to $352.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $337.32.

Insiders Place Their Bets

In other news, insider James Philip Bishop sold 1,904 shares of Flutter Entertainment stock in a transaction on Monday, August 11th. The stock was sold at an average price of $281.64, for a total transaction of $536,242.56. Following the completion of the sale, the insider directly owned 4,712 shares in the company, valued at approximately $1,327,087.68. This trade represents a 28.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amy Howe sold 4,097 shares of Flutter Entertainment stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $305.91, for a total value of $1,253,313.27. Following the sale, the chief executive officer owned 69,850 shares of the company’s stock, valued at approximately $21,367,813.50. This trade represents a 5.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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 owned by company insiders.

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.