Persistent Asset Partners Ltd Buys 714 Shares of Flutter Entertainment PLC $FLUT

Persistent Asset Partners Ltd grew its stake in shares of Flutter Entertainment PLC (NYSE:FLUT) by 48.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,183 shares of the company’s stock after acquiring an additional 714 shares during the period. Persistent Asset Partners Ltd’s holdings in Flutter Entertainment were worth $624,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC increased its stake in shares of Flutter Entertainment by 59.6% during the first quarter. CWM LLC now owns 217 shares of the company’s stock worth $48,000 after purchasing an additional 81 shares during the period. Verdence Capital Advisors LLC boosted its stake in Flutter Entertainment by 21.1% in the 1st quarter. Verdence Capital Advisors LLC now owns 2,895 shares of the company’s stock valued at $641,000 after purchasing an additional 504 shares during the period. Allianz Asset Management GmbH increased its position in Flutter Entertainment by 213.6% during the 1st quarter. Allianz Asset Management GmbH now owns 2,970 shares of the company’s stock worth $711,000 after buying an additional 2,023 shares during the period. Egerton Capital UK LLP increased its position in Flutter Entertainment by 16.9% during the 1st quarter. Egerton Capital UK LLP now owns 2,193,794 shares of the company’s stock worth $486,035,000 after buying an additional 316,411 shares during the period. Finally, ANTIPODES PARTNERS Ltd lifted its holdings in shares of Flutter Entertainment by 27.1% during the first quarter. ANTIPODES PARTNERS Ltd now owns 150,231 shares of the company’s stock worth $32,870,000 after buying an additional 31,990 shares in the last quarter.

Analyst Upgrades and Downgrades

FLUT has been the topic of a number of recent research reports. Citigroup lowered shares of Flutter Entertainment from a “buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Truist Financial decreased their target price on shares of Flutter Entertainment from $335.00 to $305.00 and set a “buy” rating on the stock in a research report on Thursday. Kepler Capital Markets raised shares of Flutter Entertainment to a “strong-buy” rating in a report on Thursday, August 28th. Bank of America reiterated a “neutral” rating and issued a $250.00 price target (down from $325.00) on shares of Flutter Entertainment in a research report on Tuesday, November 4th. Finally, UBS Group reissued 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. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.22.

Insiders Place Their Bets

In related news, CEO Jeremy Peter Jackson sold 2,112 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total transaction of $617,591.04. Following the completion of the sale, the chief executive officer directly owned 31,944 shares in the company, valued at $9,341,064.48. This represents a 6.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Amy Howe sold 4,097 shares of Flutter Entertainment stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 69,850 shares in the company, valued at approximately $21,367,813.50. This represents a 5.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.09% of the stock is currently owned by insiders.

Flutter Entertainment Stock Performance

NYSE FLUT opened at $198.97 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $35.04 billion, a price-to-earnings ratio of 98.01 and a beta of 1.84. The firm’s 50 day simple moving average is $253.33 and its 200 day simple moving average is $268.45. Flutter Entertainment PLC has a 1 year low of $193.27 and a 1 year high of $313.68.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data on Wednesday, November 12th. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $0.77 by $0.87. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the previous year, the business earned $1.27 earnings per share. The company’s revenue was up 16.8% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, research analysts expect that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

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

About Flutter Entertainment

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.