Janney Montgomery Scott LLC Makes New $524,000 Investment in Flutter Entertainment PLC $FLUT

Janney Montgomery Scott LLC acquired a new position in shares of Flutter Entertainment PLC (NYSE:FLUT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,834 shares of the company’s stock, valued at approximately $524,000.

Several other large investors also recently modified their holdings of FLUT. Farther Finance Advisors LLC grew its holdings in shares of Flutter Entertainment by 90.6% during the 1st quarter. Farther Finance Advisors LLC now owns 183 shares of the company’s stock worth $41,000 after purchasing an additional 87 shares in the last quarter. Yousif Capital Management LLC lifted its position in Flutter Entertainment by 2.8% during the first quarter. Yousif Capital Management LLC now owns 3,628 shares of the company’s stock worth $804,000 after purchasing an additional 98 shares during the period. Sowell Financial Services LLC bought a new stake in Flutter Entertainment during the first quarter worth about $376,000. Clarius Group LLC lifted its position in Flutter Entertainment by 13.3% during the first quarter. Clarius Group LLC now owns 931 shares of the company’s stock worth $206,000 after purchasing an additional 109 shares during the period. Finally, Deltec Asset Management LLC acquired a new position in shares of Flutter Entertainment in the 1st quarter valued at approximately $443,000.

Insider Transactions at Flutter Entertainment

In related news, CEO Jeremy Peter Jackson sold 2,112 shares of Flutter Entertainment stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total transaction 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 trade represents a 6.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James Philip Bishop sold 1,904 shares of the firm’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $281.64, for a total transaction 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. In the last three months, insiders have sold 23,396 shares of company stock valued at $6,759,745. 0.09% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

FLUT has been the topic of a number of recent analyst reports. BTIG Research decreased their price objective on shares of Flutter Entertainment from $357.00 to $324.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. Zacks Research raised Flutter Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Flutter Entertainment in a report on Wednesday, October 8th. JMP Securities dropped their price objective on Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating for the company in a research report on Wednesday, October 1st. Finally, Stifel Nicolaus upped their price objective on Flutter Entertainment from $353.00 to $356.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. One equities 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’s stock. According to MarketBeat.com, Flutter Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $336.26.

Flutter Entertainment Stock Up 0.1%

Shares of FLUT opened at $250.15 on Friday. Flutter Entertainment PLC has a 52 week low of $196.88 and a 52 week high of $313.68. The stock has a market capitalization of $44.05 billion, a price-to-earnings ratio of 123.23 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. The stock has a fifty day moving average of $279.92 and a 200-day moving average of $266.97.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.87. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The company had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $3.06 billion. The firm’s revenue was up 16.0% compared to the same quarter last year. 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 fiscal year.

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

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.