Flutter Entertainment (NYSE:FLUT) Announces Quarterly Earnings Results

Flutter Entertainment (NYSE:FLUT) released its earnings results on Wednesday. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.77 by $0.48, Zacks reports. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. Flutter Entertainment updated its FY 2025 guidance to EPS.

Flutter Entertainment Trading Up 0.9%

NYSE FLUT traded up $2.10 on Wednesday, hitting $233.96. 2,944,672 shares of the company were exchanged, compared to its average volume of 2,326,097. 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 has a twelve month low of $196.88 and a twelve month high of $313.68. The firm has a market capitalization of $41.20 billion, a P/E ratio of 115.25 and a beta of 1.84. The company’s 50 day moving average price is $258.33 and its 200-day moving average price is $269.22.

Analyst Ratings Changes

Several research analysts have recently issued reports on FLUT shares. Benchmark decreased their price objective on shares of Flutter Entertainment from $365.00 to $310.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. Oppenheimer decreased their price target on Flutter Entertainment from $350.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, October 14th. Truist Financial dropped their price objective on Flutter Entertainment from $350.00 to $335.00 and set a “buy” rating on the stock in a research note on Tuesday, October 21st. Stifel Nicolaus decreased their target price on Flutter Entertainment from $356.00 to $339.00 and set a “buy” rating for the company in a research note on Monday, October 27th. Finally, JMP Securities lowered their target price on Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating on the stock in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $330.47.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, CEO Amy Howe sold 4,097 shares of Flutter Entertainment stock in a transaction that occurred on 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 in the company, valued at approximately $21,367,813.50. The trade was a 5.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the business’s 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 sale, the chief executive officer directly 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 SEC filing for this sale provides additional information. Company insiders own 0.09% of the company’s stock.

Institutional Trading of Flutter Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of FLUT. Sivia Capital Partners LLC acquired a new position in shares of Flutter Entertainment in the 2nd quarter valued at about $405,000. Victory Capital Management Inc. boosted its holdings in shares of Flutter Entertainment by 30.2% during the third quarter. Victory Capital Management Inc. now owns 3,360 shares of the company’s stock worth $853,000 after purchasing an additional 780 shares during the period. Osaic Holdings Inc. grew its position in Flutter Entertainment by 72.9% during the second quarter. Osaic Holdings Inc. now owns 1,694 shares of the company’s stock valued at $445,000 after purchasing an additional 714 shares in the last quarter. Voleon Capital Management LP purchased a new position in Flutter Entertainment during the second quarter valued at approximately $418,000. Finally, Cresset Asset Management LLC acquired a new position in Flutter Entertainment in the 3rd quarter valued at approximately $399,000.

Flutter Entertainment declared that its Board of Directors has authorized a share buyback program on Friday, August 8th that authorizes the company to repurchase $245.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 0.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

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.