Assenagon Asset Management S.A. Purchases 94 Shares of Flutter Entertainment PLC $FLUT

Assenagon Asset Management S.A. grew its position in Flutter Entertainment PLC (NYSE:FLUT) by 1.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,203 shares of the company’s stock after acquiring an additional 94 shares during the period. Assenagon Asset Management S.A.’s holdings in Flutter Entertainment were worth $2,058,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Flutter Entertainment by 326.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,243 shares of the company’s stock valued at $742,000 after acquiring an additional 2,483 shares during the last quarter. Whalen Wealth Management Inc. bought a new position in shares of Flutter Entertainment in the first quarter valued at approximately $380,000. Rubicon Global Capital Ltd raised its stake in shares of Flutter Entertainment by 56.1% in the first quarter. Rubicon Global Capital Ltd now owns 70,250 shares of the company’s stock valued at $15,564,000 after acquiring an additional 25,250 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Flutter Entertainment by 0.6% in the first quarter. Bessemer Group Inc. now owns 397,297 shares of the company’s stock valued at $88,021,000 after acquiring an additional 2,478 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of Flutter Entertainment by 1.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company’s stock valued at $1,060,000 after acquiring an additional 67 shares during the last quarter.

Insider Activity

In other news, CEO Amy Howe sold 4,097 shares of the business’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $305.91, for a total value of $1,253,313.27. Following the completion of the transaction, the chief executive officer owned 69,850 shares of the company’s stock, valued at $21,367,813.50. The trade was a 5.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Mark Taylor sold 15,283 shares of the business’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $284.80, for a total transaction of $4,352,598.40. Following the completion of the transaction, the insider directly owned 16,589 shares of the company’s stock, valued at $4,724,547.20. This trade represents a 47.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,396 shares of company stock worth $6,759,745 over the last quarter. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FLUT shares. Zacks Research upgraded shares of Flutter Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th. Benchmark reissued a “buy” rating and issued a $365.00 price target (up previously from $300.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Stifel Nicolaus raised their price target on shares of Flutter Entertainment from $353.00 to $356.00 and gave the company a “buy” rating in a report on Friday, August 8th. JMP Securities raised their price target on shares of Flutter Entertainment from $323.00 to $345.00 and gave the company a “market outperform” rating in a report on Friday, August 8th. Finally, Truist Financial raised their price target on shares of Flutter Entertainment from $280.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $335.74.

Flutter Entertainment Price Performance

FLUT opened at $279.25 on Friday. The company has a fifty day moving average price of $295.15 and a two-hundred day moving average price of $265.20. 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 PLC has a 52 week low of $196.88 and a 52 week high of $313.68. The firm has a market capitalization of $49.18 billion, a PE ratio of 137.56 and a beta of 2.29.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, topping 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 firm had revenue of $4.19 billion during the quarter, compared to analyst estimates of $3.06 billion. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment declared that its Board of Directors has initiated a stock repurchase plan on Friday, August 8th that permits the company to repurchase $245.00 million in shares. This repurchase authorization permits the company to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Flutter Entertainment 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.