Argentarii LLC Has $755,000 Holdings in Flutter Entertainment PLC $FLUT

Argentarii LLC grew its position in Flutter Entertainment PLC (NYSE:FLUT) by 55.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,642 shares of the company’s stock after acquiring an additional 944 shares during the quarter. Argentarii LLC’s holdings in Flutter Entertainment were worth $755,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Flutter Entertainment by 163.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,242 shares of the company’s stock worth $321,000 after purchasing an additional 771 shares during the last quarter. State of Wyoming increased its position in Flutter Entertainment by 19.1% in the 4th quarter. State of Wyoming now owns 536 shares of the company’s stock worth $139,000 after purchasing an additional 86 shares during the last quarter. Tidal Investments LLC acquired a new position in Flutter Entertainment in the 4th quarter worth about $661,000. Sylebra Capital LLC acquired a new position in Flutter Entertainment in the 4th quarter worth about $5,677,000. Finally, Mackenzie Financial Corp acquired a new position in Flutter Entertainment in the 4th quarter worth about $2,250,000.

Insiders Place Their Bets

In related news, CEO Amy Howe sold 4,097 shares of the firm’s stock in a transaction 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 completion of 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel Mark Taylor sold 15,283 shares of the firm’s stock in a transaction 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 sale, the insider directly owned 16,589 shares of the company’s stock, valued at $4,724,547.20. This represents a 47.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,396 shares of company stock valued at $6,759,745. Company insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Stifel Nicolaus increased their price objective on Flutter Entertainment from $353.00 to $356.00 and gave the company a “buy” rating in a report on Friday, August 8th. Macquarie increased their price objective on Flutter Entertainment from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Barclays increased their price objective on Flutter Entertainment from $350.00 to $352.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Zacks Research raised Flutter Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. Finally, Bank of America increased their target price on Flutter Entertainment from $295.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $332.70.

Flutter Entertainment Price Performance

Flutter Entertainment stock opened at $285.50 on Tuesday. 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 has a market capitalization of $50.28 billion, a PE ratio of 140.64 and a beta of 2.30. Flutter Entertainment PLC has a one year low of $196.88 and a one year high of $313.68. The business has a 50 day simple moving average of $296.17 and a 200 day simple moving average of $264.60.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, topping the consensus estimate of $2.08 by $0.87. The business had revenue of $4.19 billion during 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 revenue for the quarter was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment announced that its board has authorized a share buyback plan on Friday, August 8th that allows the company to buyback $245.00 million in shares. This buyback authorization allows the company to repurchase up to 0.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Flutter Entertainment Company 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.