Ethic Inc. Has $277,000 Stake in Flutter Entertainment PLC $FLUT

Ethic Inc. decreased its stake in Flutter Entertainment PLC (NYSE:FLUT) by 21.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 993 shares of the company’s stock after selling 272 shares during the quarter. Ethic Inc.’s holdings in Flutter Entertainment were worth $277,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. SVB Wealth LLC acquired a new position in Flutter Entertainment in the first quarter valued at about $27,000. ORG Partners LLC raised its position in shares of Flutter Entertainment by 300.0% during the second quarter. ORG Partners LLC now owns 100 shares of the company’s stock worth $28,000 after purchasing an additional 75 shares during the period. Barrett & Company Inc. acquired a new stake in shares of Flutter Entertainment during the second quarter worth about $29,000. Signaturefd LLC raised its position in shares of Flutter Entertainment by 98.5% during the second quarter. Signaturefd LLC now owns 129 shares of the company’s stock worth $37,000 after purchasing an additional 64 shares during the period. Finally, CWM LLC raised its position in shares of Flutter Entertainment by 59.6% during the first quarter. CWM LLC now owns 217 shares of the company’s stock worth $48,000 after purchasing an additional 81 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Canaccord Genuity Group raised their price target on Flutter Entertainment from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Flutter Entertainment in a research report on Wednesday, October 8th. Peel Hunt lowered Flutter Entertainment from an “add” rating to a “hold” rating in a research report on Friday, August 8th. Sanford C. Bernstein dropped their price target on Flutter Entertainment from $340.00 to $330.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 15th. Finally, Needham & Company LLC lifted their target price on Flutter Entertainment from $340.00 to $355.00 and gave the company 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 assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $334.95.

Insiders Place Their Bets

In other news, CEO Amy Howe sold 4,097 shares of Flutter Entertainment stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 69,850 shares in the company, valued at approximately $21,367,813.50. The trade was a 5.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Daniel Mark Taylor sold 15,283 shares of Flutter Entertainment stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $284.80, for a total value of $4,352,598.40. Following the transaction, the insider owned 16,589 shares of the company’s stock, valued at $4,724,547.20. This represents a 47.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 23,396 shares of company stock valued at $6,759,745. 0.09% of the stock is owned by insiders.

Flutter Entertainment Stock Down 2.4%

FLUT stock opened at $230.89 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The business has a 50 day moving average price of $270.82 and a two-hundred day moving average price of $268.83. The company has a market cap of $40.66 billion, a price-to-earnings ratio of 113.74 and a beta of 1.91. Flutter Entertainment PLC has a twelve month low of $196.88 and a twelve month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Thursday, August 7th. The company reported $2.95 EPS 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 company had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment’s quarterly revenue was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. Analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

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

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.