Flutter Entertainment PLC $FLUT Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB grew its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT) by 600.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 151,036 shares of the company’s stock after purchasing an additional 129,471 shares during the period. Nordea Investment Management AB’s holdings in Flutter Entertainment were worth $42,618,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC grew its holdings in shares of Flutter Entertainment by 90.6% in the first quarter. Farther Finance Advisors LLC now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 87 shares in the last quarter. Sowell Financial Services LLC purchased a new position in Flutter Entertainment in the 1st quarter valued at approximately $376,000. Deltec Asset Management LLC purchased a new position in Flutter Entertainment in the 1st quarter valued at approximately $443,000. Canton Hathaway LLC grew its stake in shares of Flutter Entertainment by 360.3% in the first quarter. Canton Hathaway LLC now owns 6,490 shares of the company’s stock worth $1,438,000 after acquiring an additional 5,080 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of Flutter Entertainment by 1.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company’s stock worth $1,060,000 after acquiring an additional 67 shares during the period.

Insider Activity at Flutter Entertainment

In related news, CEO Jeremy Peter Jackson sold 2,112 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were 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 directly owned 31,944 shares of the company’s stock, valued at $9,341,064.48. The trade was a 6.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amy Howe sold 4,097 shares of the business’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $305.91, for a total transaction of $1,253,313.27. Following the completion of the sale, the chief executive officer directly owned 69,850 shares of the company’s stock, valued at approximately $21,367,813.50. This trade represents a 5.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,396 shares of company stock valued at $6,759,745 in the last ninety days. 0.09% of the stock is currently owned by insiders.

Analyst Ratings Changes

FLUT has been the subject of a number of recent research reports. BTIG Research decreased their target price on Flutter Entertainment from $357.00 to $324.00 and set a “buy” rating for the company in a report on Thursday, October 2nd. JMP Securities decreased 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, October 1st. Stifel Nicolaus boosted their price objective on Flutter Entertainment from $353.00 to $356.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Barclays raised their target price on shares of Flutter Entertainment from $350.00 to $352.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Finally, Sanford C. Bernstein lowered their price target on shares of Flutter Entertainment from $340.00 to $330.00 and set a “market perform” rating for the company in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $336.26.

Flutter Entertainment Trading Up 0.8%

FLUT opened at $251.97 on Friday. Flutter Entertainment PLC has a one year low of $196.88 and a one year high of $313.68. The company has a market cap of $44.37 billion, a P/E ratio of 124.12 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. The business’s 50-day simple moving average is $279.33 and its 200-day simple moving average is $267.43.

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

Flutter Entertainment announced that its Board of Directors has authorized a share repurchase plan on Friday, August 8th that authorizes the company to repurchase $245.00 million in shares. This repurchase authorization authorizes the company to purchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.