SG Americas Securities LLC Cuts Stock Holdings in Flutter Entertainment PLC $FLUT

SG Americas Securities LLC lowered its holdings in Flutter Entertainment PLC (NYSE:FLUT) by 74.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,490 shares of the company’s stock after selling 154,715 shares during the quarter. SG Americas Securities LLC’s holdings in Flutter Entertainment were worth $15,000,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FLUT. Bank of New York Mellon Corp raised its position in shares of Flutter Entertainment by 120.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 454,660 shares of the company’s stock worth $129,924,000 after acquiring an additional 248,109 shares in the last quarter. Jefferies Financial Group Inc. grew its stake in Flutter Entertainment by 5.4% in the first quarter. Jefferies Financial Group Inc. now owns 18,163 shares of the company’s stock valued at $3,995,000 after purchasing an additional 928 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in Flutter Entertainment in the first quarter worth about $1,700,000. Fortis Capital Advisors LLC purchased a new stake in shares of Flutter Entertainment during the second quarter valued at about $665,000. Finally, Corton Capital Inc. purchased a new stake in shares of Flutter Entertainment during the second quarter valued at about $556,000.

Wall Street Analyst Weigh In

Several research firms recently commented on FLUT. Citizens Jmp boosted their price objective on shares of Flutter Entertainment from $340.00 to $345.00 and gave the stock a “market outperform” rating in a research note on Thursday. Zacks Research downgraded Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research report on Friday, October 31st. Truist Financial decreased their price objective on Flutter Entertainment from $335.00 to $305.00 and set a “buy” rating for the company in a report on Thursday. UBS Group restated a “buy” rating and set a $360.00 target price (up from $340.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Finally, Benchmark decreased their price target on Flutter Entertainment from $365.00 to $310.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Flutter Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $319.22.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, CEO Amy Howe sold 4,097 shares of the company’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $305.91, for a total value of $1,253,313.27. Following the sale, the chief executive officer directly owned 69,850 shares of the company’s stock, valued at approximately $21,367,813.50. This represents a 5.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the chief executive officer owned 31,944 shares of the company’s stock, valued at $9,341,064.48. The trade was a 6.20% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.09% of the stock is owned by corporate insiders.

Flutter Entertainment Stock Down 1.0%

Flutter Entertainment stock opened at $198.97 on Friday. The business’s 50-day simple moving average is $253.33 and its two-hundred day simple moving average is $268.45. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $35.04 billion, a PE ratio of 98.01 and a beta of 1.84. Flutter Entertainment PLC has a fifty-two week low of $193.27 and a fifty-two week high of $313.68.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Wednesday, November 12th. The company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.87. The firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $2.92 billion. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The company’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.27 earnings per share. Flutter Entertainment has set its FY 2025 guidance at EPS. Equities analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment announced that its Board of Directors has approved a share repurchase 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 stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are 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.