Cantillon Capital Management LLC Sells 65,941 Shares of Flutter Entertainment PLC $FLUT

Cantillon Capital Management LLC lowered its position in Flutter Entertainment PLC (NYSE:FLUT) by 2.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,271,857 shares of the company’s stock after selling 65,941 shares during the period. Flutter Entertainment makes up about 3.8% of Cantillon Capital Management LLC’s investment portfolio, making the stock its 6th biggest position. Cantillon Capital Management LLC owned approximately 1.29% of Flutter Entertainment worth $649,206,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of FLUT. BNP Paribas Financial Markets grew its holdings in Flutter Entertainment by 196.5% during the 1st quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company’s stock valued at $441,916,000 after buying an additional 1,322,016 shares during the last quarter. Nuveen LLC purchased a new position in shares of Flutter Entertainment during the 1st quarter worth $289,627,000. Primecap Management Co. CA purchased a new position in shares of Flutter Entertainment during the 1st quarter worth $210,940,000. Alliancebernstein L.P. lifted its stake in shares of Flutter Entertainment by 2,312.7% during the 1st quarter. Alliancebernstein L.P. now owns 844,855 shares of the company’s stock worth $187,178,000 after purchasing an additional 809,838 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in shares of Flutter Entertainment by 376.4% during the 1st quarter. Hsbc Holdings PLC now owns 855,552 shares of the company’s stock worth $187,304,000 after purchasing an additional 675,949 shares during the period.

Analyst Ratings Changes

A number of research analysts have weighed in on FLUT shares. Canaccord Genuity Group increased their price target on Flutter Entertainment from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Barclays increased their price target on Flutter Entertainment from $350.00 to $352.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. UBS Group reaffirmed a “buy” rating and issued a $360.00 target price (up from $340.00) on shares of Flutter Entertainment in a research report on Friday, August 8th. Bank of America increased their target price on Flutter Entertainment from $295.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Finally, JMP Securities cut their target price on Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating on the stock in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $336.00.

Insider Transactions at Flutter Entertainment

In other Flutter Entertainment news, 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 completion of the transaction, the insider directly owned 16,589 shares in the company, valued at $4,724,547.20. The trade was a 47.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider James Philip Bishop sold 1,904 shares of Flutter Entertainment stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $281.64, for a total value of $536,242.56. Following the completion of the transaction, the insider owned 4,712 shares of the company’s stock, valued at approximately $1,327,087.68. The trade was a 28.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,396 shares of company stock valued at $6,759,745 over the last ninety days. 0.09% of the stock is currently owned by company insiders.

Flutter Entertainment Stock Up 0.3%

Shares of NYSE FLUT opened at $251.22 on Wednesday. Flutter Entertainment PLC has a 1 year low of $196.88 and a 1 year high of $313.68. The firm has a market cap of $44.24 billion, a price-to-earnings ratio of 123.75 and a beta of 1.91. 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 stock’s 50-day simple moving average is $277.92 and its 200-day simple moving average is $267.98.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Thursday, August 7th. The company reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.87. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The business had revenue of $4.19 billion for the quarter, compared to analyst estimates of $3.06 billion. The firm’s revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Flutter Entertainment declared that its board has initiated a stock buyback plan on Friday, August 8th that authorizes the company to repurchase $245.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board 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.