Apollon Wealth Management LLC Makes New $336,000 Investment in Flutter Entertainment PLC $FLUT

Apollon Wealth Management LLC purchased a new position in shares of Flutter Entertainment PLC (NYSE:FLUT) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,175 shares of the company’s stock, valued at approximately $336,000.

Other institutional investors have also added to or reduced their stakes in the company. SVB Wealth LLC bought a new stake in shares of Flutter Entertainment in the first quarter valued at approximately $27,000. ORG Partners LLC grew its stake in Flutter Entertainment by 300.0% in the 2nd quarter. ORG Partners LLC now owns 100 shares of the company’s stock valued at $28,000 after buying an additional 75 shares in the last quarter. Barrett & Company Inc. purchased a new position in Flutter Entertainment in the 2nd quarter valued at approximately $29,000. Signaturefd LLC boosted its holdings 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 acquiring an additional 64 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Flutter Entertainment by 90.6% in the first quarter. Farther Finance Advisors LLC now owns 183 shares of the company’s stock worth $41,000 after acquiring an additional 87 shares during the period.

Flutter Entertainment Stock Performance

Shares of NYSE:FLUT opened at $251.97 on Friday. The company has a market cap of $44.37 billion, a price-to-earnings ratio of 124.12 and a beta of 1.91. Flutter Entertainment PLC has a 12 month low of $196.88 and a 12 month high of $313.68. The company has a 50-day moving average price of $279.33 and a 200-day moving average price of $267.17. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Thursday, August 7th. The company reported $2.95 earnings per share 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 firm had revenue of $4.19 billion for the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment’s quarterly 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 EPS for the current year.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Bank of America increased their price objective on Flutter Entertainment from $295.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Oppenheimer reduced their price objective on shares of Flutter Entertainment from $350.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday. Canaccord Genuity Group boosted their price objective on shares of Flutter Entertainment from $330.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Sanford C. Bernstein cut their price target on shares of Flutter Entertainment from $340.00 to $330.00 and set a “market perform” rating for the company in a report on Wednesday. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Flutter Entertainment in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $336.26.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, CEO Amy Howe sold 4,097 shares of Flutter Entertainment stock in a transaction that occurred on Thursday, August 28th. The stock was 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. The trade was a 5.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Daniel Mark Taylor sold 15,283 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were 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 owned 16,589 shares of the company’s stock, valued at approximately $4,724,547.20. The trade was a 47.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,396 shares of company stock worth $6,759,745 over 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.