Galvin Gaustad & Stein LLC Makes New $8.15 Million Investment in Flutter Entertainment PLC $FLUT

Galvin Gaustad & Stein LLC acquired a new position in shares of Flutter Entertainment PLC (NYSE:FLUT) during the 2nd quarter, Holdings Channel reports. The fund acquired 28,535 shares of the company’s stock, valued at approximately $8,154,000.

Several other large investors also recently added to or reduced their stakes in the stock. Callan Family Office LLC bought a new position in shares of Flutter Entertainment during the second quarter valued at approximately $402,000. US Bancorp DE grew its stake in shares of Flutter Entertainment by 21.9% during the second quarter. US Bancorp DE now owns 2,769 shares of the company’s stock valued at $791,000 after buying an additional 497 shares during the last quarter. Belpointe Asset Management LLC grew its stake in shares of Flutter Entertainment by 218.6% during the second quarter. Belpointe Asset Management LLC now owns 3,460 shares of the company’s stock valued at $989,000 after buying an additional 2,374 shares during the last quarter. DAVENPORT & Co LLC bought a new position in shares of Flutter Entertainment during the second quarter valued at approximately $209,000. Finally, Elevate Capital Advisors LLC bought a new position in shares of Flutter Entertainment during the second quarter valued at approximately $610,000.

Insider Buying and Selling

In other Flutter Entertainment news, insider James Philip Bishop sold 1,904 shares of the company’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $281.64, for a total transaction of $536,242.56. Following the completion of the sale, the insider owned 4,712 shares in the company, valued at $1,327,087.68. This represents a 28.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Mark Taylor sold 15,283 shares of the company’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $284.80, for a total value of $4,352,598.40. Following the sale, the insider owned 16,589 shares of the company’s stock, valued at approximately $4,724,547.20. This represents 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 in the last three months. Corporate insiders own 0.09% of the company’s stock.

Flutter Entertainment Stock Up 0.8%

Flutter Entertainment stock opened at $248.08 on Friday. The business has a fifty day moving average of $285.49 and a two-hundred day moving average of $266.42. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The firm has a market cap of $43.69 billion, a P/E ratio of 122.21 and a beta of 1.91. Flutter Entertainment PLC has a twelve month low of $196.88 and a twelve month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results 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. The company had revenue of $4.19 billion during the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.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. On average, analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has approved a stock repurchase plan on Friday, August 8th that allows the company to buyback $245.00 million in shares. This buyback authorization allows the company to buy up to 0.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Peel Hunt cut Flutter Entertainment from an “add” rating to a “hold” rating in a research note on Friday, August 8th. Needham & Company LLC upped their target price on Flutter Entertainment from $340.00 to $355.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Zacks Research raised Flutter Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th. Canaccord Genuity Group increased their price objective on Flutter Entertainment from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Finally, Macquarie increased their price objective on Flutter Entertainment from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $337.32.

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.