Stratos Wealth Partners LTD. Purchases Shares of 1,016 Flutter Entertainment PLC $FLUT

Stratos Wealth Partners LTD. purchased a new stake in Flutter Entertainment PLC (NYSE:FLUT) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,016 shares of the company’s stock, valued at approximately $290,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in Flutter Entertainment by 326.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,243 shares of the company’s stock worth $742,000 after buying an additional 2,483 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Flutter Entertainment by 1.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company’s stock worth $1,060,000 after buying an additional 67 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Flutter Entertainment by 3.4% during the 1st quarter. Bank of New York Mellon Corp now owns 206,551 shares of the company’s stock worth $45,761,000 after buying an additional 6,738 shares during the last quarter. Jefferies Financial Group Inc. grew its stake in Flutter Entertainment by 5.4% during the 1st quarter. Jefferies Financial Group Inc. now owns 18,163 shares of the company’s stock worth $3,995,000 after buying an additional 928 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in Flutter Entertainment during the 1st quarter worth approximately $1,700,000.

Analyst Ratings Changes

FLUT has been the topic of several analyst reports. JMP Securities lowered their target price on Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating on the stock in a research note on Wednesday, October 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Flutter Entertainment in a research note on Saturday. Stifel Nicolaus lifted their target price on Flutter Entertainment from $353.00 to $356.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Macquarie lifted their target price on Flutter Entertainment from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, Bank of America lifted their target price on Flutter Entertainment from $295.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Flutter Entertainment presently has an average rating of “Moderate Buy” and an average price target of $336.00.

Insider Transactions at Flutter Entertainment

In related news, 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 directly owned 16,589 shares of the company’s stock, valued at approximately $4,724,547.20. The trade was a 47.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jeremy Peter Jackson sold 2,112 shares of Flutter Entertainment stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total value of $617,591.04. Following the transaction, the chief executive officer directly owned 31,944 shares of the company’s stock, valued at approximately $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. In the last ninety 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 Stock Down 2.9%

Flutter Entertainment stock opened at $244.09 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. Flutter Entertainment PLC has a 1-year low of $196.88 and a 1-year high of $313.68. The company has a market cap of $42.98 billion, a PE ratio of 120.24 and a beta of 1.91. The stock’s 50 day moving average price is $275.32 and its 200 day moving average price is $268.73.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings results on Thursday, August 7th. The company reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.87. The firm 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 revenue for the quarter was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, sell-side 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 initiated a stock repurchase program on Friday, August 8th that permits the company to buyback $245.00 million in shares. This buyback authorization permits the company to purchase up to 0.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board 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.