Flutter Entertainment PLC $FLUT Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in Flutter Entertainment PLC (NYSE:FLUT) by 57.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,080,848 shares of the company’s stock after purchasing an additional 1,122,892 shares during the quarter. Geode Capital Management LLC’s holdings in Flutter Entertainment were worth $877,583,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in FLUT. Egerton Capital UK LLP increased its holdings in shares of Flutter Entertainment by 16.9% during the 1st quarter. Egerton Capital UK LLP now owns 2,193,794 shares of the company’s stock worth $486,035,000 after buying an additional 316,411 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Flutter Entertainment by 196.5% in the 1st quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company’s stock valued at $441,916,000 after purchasing an additional 1,322,016 shares in the last quarter. Deutsche Bank AG increased its position in Flutter Entertainment by 52.2% during the 1st quarter. Deutsche Bank AG now owns 1,849,769 shares of the company’s stock worth $409,816,000 after purchasing an additional 634,497 shares in the last quarter. Amundi raised its holdings in Flutter Entertainment by 77.3% in the first quarter. Amundi now owns 1,421,434 shares of the company’s stock valued at $309,332,000 after buying an additional 619,625 shares during the period. Finally, Nuveen LLC acquired a new position in Flutter Entertainment during the first quarter valued at approximately $289,627,000.

Analysts Set New Price Targets

FLUT has been the topic of a number of research reports. Citizens Jmp raised their target price on shares of Flutter Entertainment from $340.00 to $345.00 and gave the company a “market outperform” rating in a research note on Thursday. Citigroup lowered Flutter Entertainment from a “buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Zacks Research cut Flutter Entertainment from a “hold” rating to a “strong sell” rating in a report on Friday, October 31st. BTIG Research dropped their price objective on shares of Flutter Entertainment from $321.00 to $271.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Truist Financial lowered their price target on shares of Flutter Entertainment from $335.00 to $305.00 and set a “buy” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $319.22.

Insider Activity at Flutter Entertainment

In other news, CEO Jeremy Peter Jackson sold 2,112 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 31,944 shares in the company, valued at approximately $9,341,064.48. The trade was a 6.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Amy Howe sold 4,097 shares of the firm’s 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 transaction, the chief executive officer owned 69,850 shares in the company, valued at $21,367,813.50. This trade represents a 5.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.09% of the stock is currently owned by company insiders.

Flutter Entertainment Stock Down 14.5%

Shares of NYSE:FLUT opened at $200.35 on Friday. Flutter Entertainment PLC has a 12-month low of $196.88 and a 12-month high of $313.68. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95. The firm has a market cap of $35.28 billion, a PE ratio of 98.69 and a beta of 1.84. The company has a fifty day simple moving average of $255.25 and a 200 day simple moving average of $268.50.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Wednesday, November 12th. The company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.87. The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $2.92 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.27 EPS. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate 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 program on Friday, August 8th that allows the company to buyback $245.00 million in outstanding shares. This buyback authorization allows the company to buy up to 0.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Flutter Entertainment 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.