DekaBank Deutsche Girozentrale Acquires 706 Shares of Flutter Entertainment PLC $FLUT

DekaBank Deutsche Girozentrale raised its holdings in Flutter Entertainment PLC (NYSE:FLUT) by 0.6% in the second quarter, Holdings Channel.com reports. The fund owned 113,469 shares of the company’s stock after acquiring an additional 706 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Flutter Entertainment were worth $32,381,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. SVB Wealth LLC bought a new position in shares of Flutter Entertainment during the 1st quarter valued at $27,000. ORG Partners LLC increased its position in Flutter Entertainment by 300.0% during the second quarter. ORG Partners LLC now owns 100 shares of the company’s stock worth $28,000 after buying an additional 75 shares during the last quarter. Barrett & Company Inc. bought a new position in Flutter Entertainment during the second quarter valued at about $29,000. Signaturefd LLC raised its holdings in Flutter Entertainment by 98.5% during the second quarter. Signaturefd LLC now owns 129 shares of the company’s stock valued at $37,000 after buying an additional 64 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Flutter Entertainment by 90.6% in the first quarter. Farther Finance Advisors LLC now owns 183 shares of the company’s stock worth $41,000 after buying an additional 87 shares during the last quarter.

Insider Activity

In other news, insider Daniel Mark Taylor sold 15,283 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 16,589 shares of the company’s stock, valued at $4,724,547.20. The trade was a 47.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total value of $617,591.04. Following the sale, the chief executive officer owned 31,944 shares in the company, valued at approximately $9,341,064.48. This trade represents a 6.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,396 shares of company stock worth $6,759,745. 0.09% of the stock is currently owned by insiders.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT opened at $251.22 on Wednesday. The firm has a market capitalization of $44.24 billion, a price-to-earnings ratio of 123.75 and a beta of 1.91. Flutter Entertainment PLC has a one year low of $196.88 and a one year high of $313.68. The business has a fifty day simple moving average of $277.92 and a 200 day simple moving average of $267.98. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95.

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

Flutter Entertainment declared that its Board of Directors has initiated a stock buyback program on Friday, August 8th that authorizes the company to buyback $245.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 0.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FLUT shares. Jefferies Financial Group started coverage on Flutter Entertainment in a report on Tuesday, July 8th. They set a “buy” rating and a $380.00 price objective on the stock. Peel Hunt cut Flutter Entertainment from an “add” rating to a “hold” rating in a research report on Friday, August 8th. Canaccord Genuity Group lifted their price target on shares of Flutter Entertainment from $330.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, August 8th. UBS Group restated a “buy” rating and issued a $360.00 price objective (up from $340.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Finally, Benchmark lowered their target price on shares of Flutter Entertainment from $365.00 to $310.00 and set a “buy” rating on the stock in a research note on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $336.00.

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.