Cigna Investments Inc. New Buys New Stake in Flutter Entertainment PLC $FLUT

Cigna Investments Inc. New acquired a new position in shares of Flutter Entertainment PLC (NYSE:FLUT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,719 shares of the company’s stock, valued at approximately $491,000.

Other hedge funds also recently made changes to their positions in the company. GPS Wealth Strategies Group LLC grew its holdings in shares of Flutter Entertainment by 1,375.0% during the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company’s stock worth $26,000 after purchasing an additional 110 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of Flutter Entertainment during the first quarter worth about $27,000. Parallel Advisors LLC grew its holdings in shares of Flutter Entertainment by 78.9% during the first quarter. Parallel Advisors LLC now owns 136 shares of the company’s stock worth $30,000 after purchasing an additional 60 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Flutter Entertainment by 90.6% during the first quarter. Farther Finance Advisors LLC now owns 183 shares of the company’s stock worth $41,000 after purchasing an additional 87 shares during the last quarter. Finally, Harbor Investment Advisory LLC grew its holdings in shares of Flutter Entertainment by 43.8% during the first quarter. Harbor Investment Advisory LLC now owns 184 shares of the company’s stock worth $41,000 after purchasing an additional 56 shares during the last quarter.

Insider Activity at Flutter Entertainment

In other news, insider Daniel Mark Taylor sold 15,283 shares of Flutter Entertainment stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $284.80, for a total transaction of $4,352,598.40. Following the completion of the sale, the insider directly owned 16,589 shares in the company, valued at approximately $4,724,547.20. This trade represents a 47.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Philip Bishop sold 1,904 shares of Flutter Entertainment stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $281.64, for a total transaction of $536,242.56. Following the sale, the insider owned 4,712 shares of the company’s stock, valued at approximately $1,327,087.68. The trade was a 28.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,396 shares of company stock valued at $6,759,745 in the last 90 days. Insiders own 0.09% of the company’s stock.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT opened at $280.03 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 company has a market cap of $49.31 billion, a P/E ratio of 137.95 and a beta of 2.29. Flutter Entertainment PLC has a 52 week low of $196.88 and a 52 week high of $313.68. The company has a 50-day moving average price of $295.67 and a 200 day moving average price of $264.84.

Flutter Entertainment (NYSE:FLUT) last announced 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 firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The business’s revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. Research analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its board 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

FLUT has been the topic of several research reports. Macquarie raised their price objective on Flutter Entertainment from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Canaccord Genuity Group increased their target price on shares of Flutter Entertainment from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Needham & Company LLC increased their target price on shares of Flutter Entertainment from $340.00 to $355.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Truist Financial increased their target price on shares of Flutter Entertainment from $280.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Flutter Entertainment in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $332.70.

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.