DNB Asset Management AS Purchases 1,451 Shares of Flutter Entertainment PLC $FLUT

DNB Asset Management AS lifted its position in Flutter Entertainment PLC (NYSE:FLUT) by 4.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,162 shares of the company’s stock after buying an additional 1,451 shares during the quarter. DNB Asset Management AS’s holdings in Flutter Entertainment were worth $9,191,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in Flutter Entertainment by 402.4% during the 2nd quarter. Vanguard Group Inc. now owns 17,257,475 shares of the company’s stock worth $4,931,496,000 after acquiring an additional 13,822,673 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Flutter Entertainment by 196.5% during 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 during the last quarter. Nuveen LLC acquired a new position in shares of Flutter Entertainment during the 1st quarter worth about $289,627,000. Geode Capital Management LLC boosted its stake in Flutter Entertainment by 57.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,080,848 shares of the company’s stock valued at $877,583,000 after purchasing an additional 1,122,892 shares during the period. Finally, Primecap Management Co. CA acquired a new stake in Flutter Entertainment in the 1st quarter valued at approximately $210,940,000.

Insider Activity at Flutter Entertainment

In related news, CEO Amy Howe sold 4,097 shares of the business’s stock in a transaction on 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 sale, the chief executive officer owned 69,850 shares of the company’s stock, valued at $21,367,813.50. The trade was a 5.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is owned by company insiders.

Flutter Entertainment Price Performance

Shares of Flutter Entertainment stock opened at $193.16 on Friday. The firm has a market cap of $33.86 billion, a P/E ratio of 95.15 and a beta of 1.84. The firm’s 50-day simple moving average is $243.69 and its 200-day simple moving average is $266.61. Flutter Entertainment PLC has a twelve month low of $189.40 and a twelve month high of $313.68. 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 (NYSE:FLUT) last announced its quarterly earnings results on Wednesday, November 12th. The company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.87. The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.27 earnings per share. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, research analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has initiated a share buyback plan 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 shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FLUT shares. Stifel Nicolaus cut their price target on Flutter Entertainment from $339.00 to $330.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Benchmark cut their target price on shares of Flutter Entertainment from $365.00 to $310.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. Oppenheimer decreased their price target on shares of Flutter Entertainment from $350.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 14th. Citizens Jmp upped their price objective on shares of Flutter Entertainment from $340.00 to $345.00 and gave the company a “market outperform” rating in a research report on Thursday, November 13th. Finally, Needham & Company LLC decreased their target price on Flutter Entertainment from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $316.35.

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.