Vontobel Holding Ltd. Sells 230,981 Shares of Flutter Entertainment PLC $FLUT

Vontobel Holding Ltd. lowered its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT) by 23.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 775,291 shares of the company’s stock after selling 230,981 shares during the period. Vontobel Holding Ltd.’s holdings in Flutter Entertainment were worth $215,199,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. PARUS FINANCE UK Ltd lifted its stake in shares of Flutter Entertainment by 1.5% in the first quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company’s stock worth $742,000 after buying an additional 50 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Flutter Entertainment by 3.0% in the first quarter. Sequoia Financial Advisors LLC now owns 1,836 shares of the company’s stock worth $407,000 after buying an additional 53 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Flutter Entertainment by 44.9% in the second quarter. Parallel Advisors LLC now owns 197 shares of the company’s stock worth $56,000 after buying an additional 61 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Flutter Entertainment by 98.5% in the second quarter. Signaturefd LLC now owns 129 shares of the company’s stock worth $37,000 after buying an additional 64 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Flutter Entertainment by 1.4% in the first 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 in the last quarter.

Flutter Entertainment Stock Up 3.5%

Shares of FLUT stock opened at $246.24 on Thursday. Flutter Entertainment PLC has a 12 month low of $196.88 and a 12 month high of $313.68. The stock has a market cap of $43.36 billion, a P/E ratio of 121.30 and a beta of 1.91. 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 company has a 50 day simple moving average of $286.57 and a two-hundred day simple moving average of $266.41.

Flutter Entertainment (NYSE:FLUT) last announced its 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 net margin of 2.96% and a return on equity of 12.15%. The business had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $3.06 billion. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, research analysts expect that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its Board of Directors has initiated a share buyback program on Friday, August 8th that permits the company to repurchase $245.00 million in shares. This repurchase authorization permits the company to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Benchmark reiterated a “buy” rating and issued a $365.00 target price on shares of Flutter Entertainment in a research note on Wednesday, October 1st. Jefferies Financial Group assumed coverage on shares of Flutter Entertainment in a research note on Tuesday, July 8th. They issued a “buy” rating and a $380.00 target price on the stock. Zacks Research upgraded shares of Flutter Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th. Canaccord Genuity Group increased their price objective on shares of Flutter Entertainment from $330.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Finally, Hsbc Global Res upgraded shares of Flutter Entertainment to a “hold” rating in a research report on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Flutter Entertainment currently has an average rating of “Moderate Buy” and an average target price of $337.32.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, insider James Philip Bishop sold 1,904 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 4,712 shares of the company’s stock, valued at approximately $1,327,087.68. This represents a 28.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amy Howe sold 4,097 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,396 shares of company stock valued at $6,759,745 in the last ninety days. Corporate insiders own 0.09% of the company’s stock.

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.