Cantillon Capital Management LLC Reduces Stock Holdings in Flutter Entertainment PLC $FLUT

Cantillon Capital Management LLC lowered its stake in Flutter Entertainment PLC (NYSE:FLUT) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,271,857 shares of the company’s stock after selling 65,941 shares during the period. Flutter Entertainment makes up about 3.8% of Cantillon Capital Management LLC’s investment portfolio, making the stock its 6th largest holding. Cantillon Capital Management LLC’s holdings in Flutter Entertainment were worth $649,206,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of FLUT. ORG Partners LLC grew its position in Flutter Entertainment by 300.0% during the 2nd quarter. ORG Partners LLC now owns 100 shares of the company’s stock worth $28,000 after purchasing an additional 75 shares in the last quarter. Barrett & Company Inc. purchased a new position in shares of Flutter Entertainment during the 2nd quarter valued at $29,000. SVB Wealth LLC purchased a new position in shares of Flutter Entertainment during the 1st quarter valued at $27,000. Signaturefd LLC grew its holdings in shares of Flutter Entertainment by 98.5% during the 2nd quarter. Signaturefd LLC now owns 129 shares of the company’s stock valued at $37,000 after acquiring an additional 64 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Flutter Entertainment by 90.6% during the 1st quarter. Farther Finance Advisors LLC now owns 183 shares of the company’s stock valued at $41,000 after acquiring an additional 87 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FLUT. Peel Hunt cut shares of Flutter Entertainment from an “add” rating to a “hold” rating in a report on Friday, August 8th. Bank of America boosted their price target on shares of Flutter Entertainment from $295.00 to $330.00 and gave the company a “buy” rating in a report on Friday, July 11th. Jefferies Financial Group assumed coverage on shares of Flutter Entertainment in a report on Tuesday, July 8th. They set a “buy” rating and a $380.00 price target on the stock. Barclays upped their price objective on shares of Flutter Entertainment from $350.00 to $352.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Finally, Truist Financial decreased their price objective on shares of Flutter Entertainment from $350.00 to $335.00 and set a “buy” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $336.00.

Insider Activity at Flutter Entertainment

In other news, CEO Jeremy Peter Jackson sold 2,112 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer owned 31,944 shares of the company’s stock, valued at approximately $9,341,064.48. This represents a 6.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amy Howe sold 4,097 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $305.91, for a total transaction of $1,253,313.27. Following the transaction, the chief executive officer directly owned 69,850 shares of the company’s stock, valued at $21,367,813.50. This represents a 5.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,396 shares of company stock worth $6,759,745 over the last ninety days. Corporate insiders own 0.09% of the company’s stock.

Flutter Entertainment Stock Up 0.3%

Flutter Entertainment stock opened at $251.22 on Wednesday. The firm has a market cap of $44.24 billion, a price-to-earnings ratio of 123.75 and a beta of 1.91. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. Flutter Entertainment PLC has a fifty-two week low of $196.88 and a fifty-two week high of $313.68. The firm has a fifty day moving average price of $277.92 and a two-hundred day moving average price of $267.98.

Flutter Entertainment (NYSE:FLUT) last released 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 firm had revenue of $4.19 billion during the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

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