Platinum Investment Management Ltd. Buys 2,000 Shares of Flutter Entertainment PLC $FLUT

Platinum Investment Management Ltd. increased its stake in shares of Flutter Entertainment PLC (NYSE:FLUT) by 5.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,000 shares of the company’s stock after buying an additional 2,000 shares during the quarter. Flutter Entertainment accounts for 0.8% of Platinum Investment Management Ltd.’s investment portfolio, making the stock its 22nd largest holding. Platinum Investment Management Ltd.’s holdings in Flutter Entertainment were worth $11,377,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Massachusetts Financial Services Co. MA grew its stake in shares of Flutter Entertainment by 5.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,230,587 shares of the company’s stock worth $715,737,000 after acquiring an additional 167,621 shares in the last quarter. Egerton Capital UK LLP grew its position in Flutter Entertainment by 16.9% in the 1st quarter. Egerton Capital UK LLP now owns 2,193,794 shares of the company’s stock worth $486,035,000 after purchasing an additional 316,411 shares in the last quarter. BNP Paribas Financial Markets grew its position in Flutter Entertainment by 196.5% in the 1st quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company’s stock worth $441,916,000 after purchasing an additional 1,322,016 shares in the last quarter. Deutsche Bank AG grew its position in Flutter Entertainment by 52.2% in the 1st quarter. Deutsche Bank AG now owns 1,849,769 shares of the company’s stock worth $409,816,000 after purchasing an additional 634,497 shares in the last quarter. Finally, Amundi grew its holdings in shares of Flutter Entertainment by 77.3% in the first quarter. Amundi now owns 1,421,434 shares of the company’s stock valued at $309,332,000 after acquiring an additional 619,625 shares in the last quarter.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT opened at $252.69 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $44.50 billion, a PE ratio of 124.48 and a beta of 1.93. Flutter Entertainment PLC has a twelve month low of $196.88 and a twelve month high of $313.68. The company has a 50-day moving average price of $292.22 and a two-hundred day moving average price of $266.13.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Thursday, August 7th. The company reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.87. The firm had revenue of $4.19 billion during the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. Equities analysts forecast that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment declared that its Board of Directors has approved a stock repurchase program on Friday, August 8th that authorizes the company to repurchase $245.00 million in shares. This repurchase authorization authorizes the company to buy up to 0.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, insider James Philip Bishop sold 1,904 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $281.64, for a total value of $536,242.56. Following the completion of the transaction, the insider directly owned 4,712 shares of the company’s stock, valued at $1,327,087.68. This trade represents a 28.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Mark Taylor sold 15,283 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was 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 owned 16,589 shares of the company’s stock, 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. Insiders sold 23,396 shares of company stock valued at $6,759,745 over the last three months. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FLUT shares. Needham & Company LLC upped their target price on Flutter Entertainment from $340.00 to $355.00 and gave the company a “buy” rating in a report on Friday, August 8th. JMP Securities reduced their price objective on Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating for the company in a research note on Wednesday. Macquarie increased their price target on shares of Flutter Entertainment from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Citigroup restated a “buy” rating on shares of Flutter Entertainment in a research report on Thursday, August 14th. Finally, Peel Hunt downgraded shares of Flutter Entertainment from an “add” rating to a “hold” rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $335.47.

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.