Sumitomo Mitsui Trust Group Inc. Buys 5,517 Shares of Flutter Entertainment PLC $FLUT

Sumitomo Mitsui Trust Group Inc. lifted its position in Flutter Entertainment PLC (NYSE:FLUT) by 1.6% during the second quarter, HoldingsChannel.com reports. The fund owned 350,827 shares of the company’s stock after purchasing an additional 5,517 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Flutter Entertainment were worth $100,252,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. SVB Wealth LLC acquired a new stake in Flutter Entertainment in the first quarter worth $27,000. ORG Partners LLC increased its position in shares of 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. acquired a new stake in Flutter Entertainment during the 2nd quarter worth $29,000. Signaturefd LLC lifted its holdings in Flutter Entertainment by 98.5% during the second quarter. Signaturefd LLC now owns 129 shares of the company’s stock worth $37,000 after acquiring an additional 64 shares in the last quarter. Finally, CWM LLC grew its stake in Flutter Entertainment by 59.6% in the first quarter. CWM LLC now owns 217 shares of the company’s stock valued at $48,000 after acquiring an additional 81 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FLUT. JMP Securities dropped their price target 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. Stifel Nicolaus raised their target price on shares of Flutter Entertainment from $353.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Citigroup reaffirmed a “buy” rating on shares of Flutter Entertainment in a research note on Thursday, August 14th. Macquarie upped their price target on shares of Flutter Entertainment from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Finally, Zacks Research upgraded shares of Flutter Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $336.00.

Insider Buying and Selling

In related news, insider James Philip Bishop sold 1,904 shares of Flutter Entertainment stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $281.64, for a total value of $536,242.56. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total value of $617,591.04. Following the transaction, the chief executive officer directly owned 31,944 shares of the company’s stock, valued at $9,341,064.48. This trade represents a 6.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,396 shares of company stock worth $6,759,745 in the last three months. Insiders own 0.09% of the company’s stock.

Flutter Entertainment Stock Performance

Shares of FLUT stock opened at $244.09 on Friday. Flutter Entertainment PLC has a 12 month low of $196.88 and a 12 month high of $313.68. The company’s fifty day simple moving average is $275.32 and its 200-day simple moving average is $268.73. The firm has a market cap of $42.98 billion, a PE ratio of 120.24 and a beta of 1.91. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last released 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. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The business had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.06 billion. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. Equities research 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 share buyback program on Friday, August 8th that permits the company to buyback $245.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 0.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are 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.