Allspring Global Investments Holdings LLC Has $272,000 Stock Holdings in Flutter Entertainment PLC $FLUT

Allspring Global Investments Holdings LLC cut its holdings in Flutter Entertainment PLC (NYSE:FLUT) by 5.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 959 shares of the company’s stock after selling 53 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Flutter Entertainment were worth $272,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. SVB Wealth LLC bought a new stake in Flutter Entertainment in the 1st quarter valued at approximately $27,000. ORG Partners LLC lifted its stake in Flutter Entertainment by 300.0% in the 2nd quarter. ORG Partners LLC now owns 100 shares of the company’s stock valued at $28,000 after acquiring an additional 75 shares in the last quarter. Barrett & Company Inc. bought a new stake in Flutter Entertainment in the 2nd quarter valued at approximately $29,000. Signaturefd LLC lifted its stake in Flutter Entertainment by 98.5% in the 2nd quarter. Signaturefd LLC now owns 129 shares of the company’s stock valued at $37,000 after acquiring an additional 64 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Flutter Entertainment by 59.6% during the 1st quarter. CWM LLC now owns 217 shares of the company’s stock worth $48,000 after purchasing an additional 81 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FLUT. Jefferies Financial Group began coverage on Flutter Entertainment in a research note on Tuesday, July 8th. They set a “buy” rating and a $380.00 price objective on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Flutter Entertainment in a research note on Saturday. Kepler Capital Markets upgraded Flutter Entertainment to a “strong-buy” rating in a research note on Thursday, August 28th. UBS Group reiterated a “buy” rating and set a $360.00 price objective (up previously from $340.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Finally, Zacks Research upgraded Flutter Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Flutter Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $336.00.

Flutter Entertainment Stock Performance

FLUT opened at $244.09 on Friday. The firm has a market cap of $42.98 billion, a P/E ratio of 120.24 and a beta of 1.91. 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 business’s fifty day moving average is $275.32 and its 200-day moving average is $268.73.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Thursday, August 7th. The company reported $2.95 earnings per share (EPS) 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 analyst estimates of $3.06 billion. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.Flutter Entertainment’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. Sell-side analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

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

Insider Buying and Selling

In other news, CEO Amy Howe sold 4,097 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $305.91, for a total transaction of $1,253,313.27. Following the sale, the chief executive officer directly owned 69,850 shares of the company’s stock, valued at approximately $21,367,813.50. This represents a 5.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total value of $617,591.04. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,396 shares of company stock valued at $6,759,745. Company insiders own 0.09% of the company’s stock.

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.