Vanguard Group Inc. Has $4.93 Billion Stock Position in Flutter Entertainment PLC $FLUT

Vanguard Group Inc. increased its position in shares of Flutter Entertainment PLC (NYSE:FLUT) by 402.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 17,257,475 shares of the company’s stock after buying an additional 13,822,673 shares during the quarter. Vanguard Group Inc. owned approximately 0.10% of Flutter Entertainment worth $4,931,496,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of FLUT. BNP Paribas Financial Markets lifted its position 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 worth $441,916,000 after acquiring an additional 1,322,016 shares during the last quarter. Nuveen LLC bought a new position in shares of Flutter Entertainment in the first quarter worth about $289,627,000. Geode Capital Management LLC lifted its position in shares of Flutter Entertainment by 57.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,080,848 shares of the company’s stock worth $877,583,000 after purchasing an additional 1,122,892 shares during the last quarter. Primecap Management Co. CA bought a new stake in Flutter Entertainment during the 1st quarter valued at approximately $210,940,000. Finally, Alliancebernstein L.P. grew its holdings in Flutter Entertainment by 2,312.7% in the 1st quarter. Alliancebernstein L.P. now owns 844,855 shares of the company’s stock valued at $187,178,000 after buying an additional 809,838 shares during the last quarter.

Insider Buying and Selling

In other Flutter Entertainment news, CEO Amy Howe sold 4,097 shares of the firm’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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is currently owned by corporate insiders.

Flutter Entertainment Trading Up 0.1%

Shares of Flutter Entertainment stock opened at $193.38 on Thursday. Flutter Entertainment PLC has a 52-week low of $189.40 and a 52-week high of $313.68. The firm has a market capitalization of $33.89 billion, a PE ratio of 95.26 and a beta of 1.84. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. The company’s fifty day moving average price is $247.45 and its two-hundred day moving average price is $267.37.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Wednesday, November 12th. The company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.87. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same period last year, the firm earned $1.27 EPS. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current year.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Sanford C. Bernstein cut their price target on Flutter Entertainment from $330.00 to $325.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. Stifel Nicolaus dropped their target price on shares of Flutter Entertainment from $339.00 to $330.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Truist Financial reduced 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, November 13th. Barclays decreased their price target on shares of Flutter Entertainment from $352.00 to $325.00 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Finally, UBS Group reaffirmed a “buy” rating and set a $360.00 price objective (up previously from $340.00) on shares of Flutter Entertainment in a research report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $317.67.

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.