Flutter Entertainment PLC $FLUT Holdings Lifted by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale boosted its holdings in Flutter Entertainment PLC (NYSE:FLUT) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 113,469 shares of the company’s stock after acquiring an additional 706 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.06% of Flutter Entertainment worth $32,381,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA grew its stake in shares of Flutter Entertainment by 5.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,230,587 shares of the company’s stock worth $715,737,000 after purchasing an additional 167,621 shares during the last quarter. Egerton Capital UK LLP boosted its holdings in Flutter Entertainment by 16.9% during the first 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 in the last quarter. BNP Paribas Financial Markets grew its position in Flutter Entertainment by 196.5% in the first quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company’s stock worth $441,916,000 after buying an additional 1,322,016 shares during the last quarter. Deutsche Bank AG grew its position in Flutter Entertainment by 52.2% in the first quarter. Deutsche Bank AG now owns 1,849,769 shares of the company’s stock worth $409,816,000 after buying an additional 634,497 shares during the last quarter. Finally, Amundi increased its holdings in shares of 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 in the last quarter.

Insider Activity 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 value of $536,242.56. Following the transaction, the insider owned 4,712 shares in the company, valued at approximately $1,327,087.68. This represents a 28.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amy Howe sold 4,097 shares of Flutter Entertainment stock in a transaction 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 $21,367,813.50. This trade represents a 5.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,396 shares of company stock worth $6,759,745 in the last 90 days. 0.09% of the stock is owned by corporate insiders.

Flutter Entertainment Stock Up 0.3%

Shares of Flutter Entertainment stock 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 company has a market cap of $44.24 billion, a P/E ratio of 123.75 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 stock has a 50-day moving average price of $277.92 and a 200 day moving average price of $267.98.

Flutter Entertainment (NYSE:FLUT) last issued its 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 company 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%.The business’s quarterly revenue was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FLUT. Jefferies Financial Group initiated coverage on Flutter Entertainment in a research note on Tuesday, July 8th. They set a “buy” rating and a $380.00 price objective for the company. JMP Securities reduced their target price on Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating for the company in a report on Wednesday, October 1st. Peel Hunt cut Flutter Entertainment from an “add” rating to a “hold” rating in a research note on Friday, August 8th. Canaccord Genuity Group boosted their price objective on Flutter Entertainment from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Finally, Bank of America upped their price objective on shares of 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 assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $336.00.

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.