Plato Investment Management Ltd Purchases 744 Shares of Flutter Entertainment PLC $FLUT

Plato Investment Management Ltd lifted its position in shares of Flutter Entertainment PLC (NYSE:FLUT) by 18.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 4,822 shares of the company’s stock after acquiring an additional 744 shares during the period. Plato Investment Management Ltd’s holdings in Flutter Entertainment were worth $1,373,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its holdings in Flutter Entertainment by 5.5% in the first 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 raised its stake in shares of Flutter Entertainment by 16.9% in the first 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 during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Flutter Entertainment by 196.5% in the first 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 during the last quarter. Deutsche Bank AG raised its stake in shares of Flutter Entertainment by 52.2% in the first 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 during the last quarter. Finally, Amundi raised its stake in shares of Flutter Entertainment by 77.3% in the first quarter. Amundi now owns 1,421,434 shares of the company’s stock worth $309,332,000 after purchasing an additional 619,625 shares during the last quarter.

Flutter Entertainment Stock Up 0.7%

Flutter Entertainment stock opened at $232.50 on Monday. The stock has a market cap of $40.94 billion, a PE ratio of 114.53 and a beta of 1.91. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95. Flutter Entertainment PLC has a one year low of $196.88 and a one year high of $313.68. The stock has a fifty day moving average of $269.48 and a 200 day moving average of $269.40.

Flutter Entertainment (NYSE:FLUT) last posted 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 analysts’ expectations of $3.06 billion. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The business’s revenue for the quarter was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict 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 shares. This repurchase authorization authorizes the company to buy up to 0.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

FLUT has been the subject of several recent analyst reports. Citigroup restated a “buy” rating on shares of Flutter Entertainment in a research note on Thursday, August 14th. Barclays boosted their price target on Flutter Entertainment from $350.00 to $352.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. 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. Canaccord Genuity Group upped their price objective on Flutter Entertainment from $330.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Finally, Jefferies Financial Group assumed coverage on Flutter Entertainment in a research report on Tuesday, July 8th. They set a “buy” rating and a $380.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $334.95.

Insider Buying and Selling

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 2,112 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total value of $617,591.04. Following the completion of the sale, the chief executive officer owned 31,944 shares in the company, valued at $9,341,064.48. This represents a 6.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Daniel Mark Taylor sold 15,283 shares of the company’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 sale, the insider owned 16,589 shares of the company’s stock, valued at approximately $4,724,547.20. The trade was a 47.95% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 23,396 shares of company stock worth $6,759,745. Corporate insiders own 0.09% of the company’s stock.

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.