Nomura Asset Management Co. Ltd. Buys 1,700 Shares of Flutter Entertainment PLC $FLUT

Nomura Asset Management Co. Ltd. boosted its position in shares of Flutter Entertainment PLC (NYSE:FLUT) by 3.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 53,697 shares of the company’s stock after buying an additional 1,700 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Flutter Entertainment were worth $15,344,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Citigroup Inc. lifted its holdings in Flutter Entertainment by 52.7% during the 2nd quarter. Citigroup Inc. now owns 808,998 shares of the company’s stock worth $231,179,000 after purchasing an additional 279,167 shares during the last quarter. Persistent Asset Partners Ltd increased its stake in Flutter Entertainment by 48.6% in the second quarter. Persistent Asset Partners Ltd now owns 2,183 shares of the company’s stock valued at $624,000 after acquiring an additional 714 shares during the last quarter. Kingsview Wealth Management LLC bought a new position in Flutter Entertainment in the second quarter valued at about $201,000. Intech Investment Management LLC bought a new stake in shares of Flutter Entertainment during the second quarter worth $2,070,000. Finally, Creative Planning bought a new position in Flutter Entertainment in the second quarter valued at about $296,000.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FLUT shares. Macquarie boosted their target price on shares of Flutter Entertainment from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Benchmark lowered their price objective on Flutter Entertainment from $365.00 to $310.00 and set a “buy” rating for the company in a research report on Wednesday, October 15th. Barclays reduced their price target on shares of Flutter Entertainment from $352.00 to $325.00 and set an “overweight” rating for the company in a report on Thursday, November 13th. BTIG Research reduced their price target on shares of Flutter Entertainment from $321.00 to $271.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Finally, Citigroup downgraded Flutter Entertainment from a “buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $317.67.

Insider Buying and Selling

In other Flutter Entertainment news, CEO Amy Howe sold 4,097 shares of the company’s stock in a transaction dated 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 represents a 5.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is currently owned by company insiders.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT opened at $193.38 on Thursday. Flutter Entertainment PLC has a fifty-two week low of $189.40 and a fifty-two week high of $313.68. The company’s 50-day moving average is $247.45 and its 200 day moving average is $267.37. The company has a market capitalization of $33.89 billion, a P/E ratio of 95.26 and a beta of 1.84. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $0.77 by $0.87. The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $2.92 billion. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.Flutter Entertainment’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.27 earnings per share. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its Board of Directors has approved a share buyback plan on Friday, August 8th that allows the company to buyback $245.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 0.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.