Freedom Investment Management Inc. Trims Position in Flutter Entertainment PLC $FLUT

Freedom Investment Management Inc. cut its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT) by 11.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,054 shares of the company’s stock after selling 277 shares during the period. Freedom Investment Management Inc.’s holdings in Flutter Entertainment were worth $587,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in FLUT. PARUS FINANCE UK Ltd grew its stake in Flutter Entertainment by 1.5% in the first quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company’s stock worth $742,000 after purchasing an additional 50 shares during the period. Sequoia Financial Advisors LLC grew its stake in Flutter Entertainment by 3.0% in the first quarter. Sequoia Financial Advisors LLC now owns 1,836 shares of the company’s stock worth $407,000 after purchasing an additional 53 shares during the period. Parallel Advisors LLC grew its stake in Flutter Entertainment by 44.9% in the second quarter. Parallel Advisors LLC now owns 197 shares of the company’s stock worth $56,000 after purchasing an additional 61 shares during the period. Signaturefd LLC grew its stake in Flutter Entertainment by 98.5% in the second quarter. Signaturefd LLC now owns 129 shares of the company’s stock worth $37,000 after purchasing an additional 64 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its stake in Flutter Entertainment by 1.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company’s stock worth $1,060,000 after purchasing an additional 67 shares during the period.

Insiders Place Their Bets

In other Flutter Entertainment news, CEO Amy Howe sold 4,097 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $305.91, for a total value of $1,253,313.27. Following the transaction, the chief executive officer 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Mark Taylor sold 15,283 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $284.80, for a total value of $4,352,598.40. Following the completion of the transaction, the insider directly owned 16,589 shares in the company, valued at approximately $4,724,547.20. This represents a 47.95% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,396 shares of company stock valued at $6,759,745. Company insiders own 0.09% of the company’s stock.

Flutter Entertainment Trading Down 2.9%

Shares of NYSE:FLUT opened at $244.09 on Friday. The company has a market cap of $42.98 billion, a P/E ratio of 120.24 and a beta of 1.91. 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 PLC has a 1 year low of $196.88 and a 1 year high of $313.68. The stock’s fifty day moving average price is $275.32 and its 200-day moving average price is $268.73.

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

Flutter Entertainment declared that its board has authorized a share repurchase plan on Friday, August 8th that permits the company to repurchase $245.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

FLUT has been the topic of several recent research reports. Needham & Company LLC upped their price target on 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 cut their target price on Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating on the stock in a research note on Wednesday, October 1st. UBS Group reissued a “buy” rating and issued a $360.00 target price (up from $340.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Barclays increased their target price on Flutter Entertainment from $350.00 to $352.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Finally, Bank of America increased their target price on Flutter Entertainment from $295.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. One research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.