Independence Bank of Kentucky Boosts Holdings in Flutter Entertainment PLC $FLUT

Independence Bank of Kentucky boosted its position in Flutter Entertainment PLC (NYSE:FLUT) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,983 shares of the company’s stock after purchasing an additional 115 shares during the quarter. Independence Bank of Kentucky’s holdings in Flutter Entertainment were worth $1,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. PARUS FINANCE UK Ltd lifted its stake in Flutter Entertainment by 1.5% in the 1st quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company’s stock worth $742,000 after purchasing an additional 50 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Flutter Entertainment by 3.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,836 shares of the company’s stock worth $407,000 after buying an additional 53 shares during the last quarter. Harbor Investment Advisory LLC increased its holdings in shares of Flutter Entertainment by 43.8% in the 1st quarter. Harbor Investment Advisory LLC now owns 184 shares of the company’s stock worth $41,000 after buying an additional 56 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Flutter Entertainment by 78.9% in the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company’s stock worth $30,000 after buying an additional 60 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Flutter Entertainment by 98.5% in the 2nd quarter. Signaturefd LLC now owns 129 shares of the company’s stock worth $37,000 after buying an additional 64 shares during the last quarter.

Analysts Set New Price Targets

FLUT has been the topic of a number of research analyst reports. Citigroup reissued a “buy” rating on shares of Flutter Entertainment in a report on Thursday, August 14th. Oppenheimer increased their price target on shares of Flutter Entertainment from $310.00 to $350.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. Zacks Research raised shares of Flutter Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. UBS Group reissued a “buy” rating and issued a $360.00 price target (up previously from $340.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Finally, Peel Hunt lowered shares of Flutter Entertainment from an “add” rating to a “hold” rating in a report on Friday, August 8th. 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $335.74.

Flutter Entertainment Price Performance

FLUT stock opened at $280.43 on Monday. 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’s fifty day moving average is $294.62 and its 200 day moving average is $265.99. The firm has a market cap of $49.38 billion, a P/E ratio of 138.14 and a beta of 2.30.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, beating the consensus estimate of $2.08 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 $4.19 billion for the quarter, compared to analyst estimates of $3.06 billion. The business’s quarterly revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. Research analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

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

Insider Activity

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 2,112 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total transaction of $617,591.04. Following the completion of the sale, the chief executive officer owned 31,944 shares of the company’s stock, valued at $9,341,064.48. This represents a 6.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider James Philip Bishop sold 1,904 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $281.64, for a total transaction of $536,242.56. Following the sale, the insider directly owned 4,712 shares of the company’s stock, valued at $1,327,087.68. The trade was a 28.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,396 shares of company stock worth $6,759,745. 0.09% of the stock is currently owned by corporate insiders.

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.