Canada Pension Plan Investment Board Boosts Holdings in Flutter Entertainment PLC $FLUT

Canada Pension Plan Investment Board raised its holdings in Flutter Entertainment PLC (NYSE:FLUT) by 98.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 450,119 shares of the company’s stock after purchasing an additional 222,830 shares during the quarter. Canada Pension Plan Investment Board owned 0.25% of Flutter Entertainment worth $99,724,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of FLUT. Tower Research Capital LLC TRC purchased a new stake in shares of Flutter Entertainment during the 4th quarter worth about $33,000. Stifel Financial Corp purchased a new stake in shares of Flutter Entertainment during the 4th quarter worth about $1,401,000. Voya Investment Management LLC boosted its stake in shares of Flutter Entertainment by 204.6% during the 4th quarter. Voya Investment Management LLC now owns 7,020 shares of the company’s stock worth $1,822,000 after acquiring an additional 4,715 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Flutter Entertainment by 36.9% during the 4th quarter. Northern Trust Corp now owns 608,457 shares of the company’s stock worth $157,256,000 after acquiring an additional 164,023 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Flutter Entertainment by 96.1% during the 4th quarter. AQR Capital Management LLC now owns 131,401 shares of the company’s stock worth $33,961,000 after acquiring an additional 64,394 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FLUT. Needham & Company LLC increased their target price on shares of Flutter Entertainment from $340.00 to $355.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. JMP Securities increased their target price on shares of Flutter Entertainment from $323.00 to $345.00 and gave the stock a “market outperform” rating in a research note on Friday, August 8th. Stifel Nicolaus increased their target price on shares of Flutter Entertainment from $353.00 to $356.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. UBS Group restated a “buy” rating and set a $360.00 price target (up previously from $340.00) on shares of Flutter Entertainment in a research report on Friday, August 8th. Finally, Benchmark restated a “buy” rating and set a $365.00 price target (up previously from $300.00) on shares of Flutter Entertainment in a research report on Friday, August 8th. Twenty investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $332.70.

Flutter Entertainment Stock Down 0.3%

FLUT stock opened at $307.73 on Friday. The company has a market cap of $54.19 billion, a price-to-earnings ratio of 151.59, a PEG ratio of 1.50 and a beta of 2.31. 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 PLC has a 12 month low of $196.88 and a 12 month high of $313.68. The firm has a 50-day moving average of $293.72 and a two-hundred day moving average of $263.35.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Thursday, August 7th. The company reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.87. The company had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company’s 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 fiscal year.

Flutter Entertainment announced that its Board of Directors has initiated a share buyback program on Friday, August 8th that permits the company to buyback $245.00 million in shares. This buyback authorization permits the company to reacquire up to 0.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Flutter Entertainment news, Director Christine M. Mccarthy sold 264 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $244.12, for a total value of $64,447.68. Following the completion of the sale, the director owned 559 shares in the company, valued at approximately $136,463.08. This represents a 32.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Philip Bishop sold 1,904 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $281.64, for a total transaction of $536,242.56. Following the completion of the sale, the insider owned 4,712 shares of the company’s stock, valued at approximately $1,327,087.68. The trade was a 28.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,851 shares of company stock worth $7,361,377 in the last 90 days. Corporate insiders own 0.09% of the company’s stock.

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.