Canton Hathaway LLC Increases Stock Position in Flutter Entertainment PLC $FLUT

Canton Hathaway LLC increased its position in Flutter Entertainment PLC (NYSE:FLUT) by 63.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 10,640 shares of the company’s stock after buying an additional 4,150 shares during the quarter. Flutter Entertainment comprises 0.6% of Canton Hathaway LLC’s holdings, making the stock its 23rd largest position. Canton Hathaway LLC’s holdings in Flutter Entertainment were worth $3,040,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in FLUT. SVB Wealth LLC purchased a new position in shares of Flutter Entertainment in the first quarter valued at $27,000. ORG Partners LLC boosted its stake in shares of Flutter Entertainment by 300.0% in the second quarter. ORG Partners LLC now owns 100 shares of the company’s stock valued at $28,000 after purchasing an additional 75 shares during the period. Barrett & Company Inc. purchased a new position in shares of Flutter Entertainment in the second quarter valued at $29,000. Signaturefd LLC boosted its stake in shares of Flutter Entertainment by 98.5% in the second quarter. Signaturefd LLC now owns 129 shares of the company’s stock valued at $37,000 after purchasing an additional 64 shares during the period. Finally, CWM LLC boosted its stake in shares of Flutter Entertainment by 59.6% in the first quarter. CWM LLC now owns 217 shares of the company’s stock valued at $48,000 after purchasing an additional 81 shares during the period.

Wall Street Analysts Forecast Growth

FLUT has been the subject of a number of recent analyst reports. Kepler Capital Markets raised shares of Flutter Entertainment to a “strong-buy” rating in a research report on Thursday, August 28th. Macquarie increased their price objective on shares of Flutter Entertainment from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Jefferies Financial Group initiated coverage on shares of Flutter Entertainment in a research note on Tuesday, July 8th. They set a “buy” rating and a $380.00 price objective on the stock. Bank of America increased their price objective on shares of Flutter Entertainment from $295.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Finally, Needham & Company LLC increased their price objective on shares of Flutter Entertainment from $340.00 to $355.00 and gave the company a “buy” rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $334.95.

Insider Buying and Selling

In related news, CEO Jeremy Peter Jackson sold 2,112 shares of Flutter Entertainment stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total value of $617,591.04. Following the sale, the chief executive officer directly owned 31,944 shares in the company, valued at $9,341,064.48. This trade represents a 6.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Amy Howe sold 4,097 shares of Flutter Entertainment 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 completion of the sale, the chief executive officer owned 69,850 shares in the company, valued at approximately $21,367,813.50. This represents a 5.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 23,396 shares of company stock valued at $6,759,745 over the last three months. Corporate insiders own 0.09% of the company’s stock.

Flutter Entertainment Trading Down 2.4%

Flutter Entertainment stock opened at $230.89 on Friday. The firm’s 50-day moving average is $270.82 and its 200-day moving average is $268.83. 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 1 year low of $196.88 and a 1 year high of $313.68. The company has a market cap of $40.66 billion, a P/E ratio of 113.74 and a beta of 1.91.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings results on Thursday, August 7th. The company reported $2.95 earnings per share (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 company had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment’s revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, equities analysts expect 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 repurchase $245.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are often 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.