Massachusetts Financial Services Co. MA Trims Stake in Flutter Entertainment PLC $FLUT

Massachusetts Financial Services Co. MA trimmed its position in shares of Flutter Entertainment PLC (NYSE:FLUT) by 13.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,796,495 shares of the company’s stock after selling 434,092 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Flutter Entertainment were worth $799,126,000 as of its most recent SEC filing.

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

Insider Activity at Flutter Entertainment

In other news, CEO Jeremy Peter Jackson sold 2,112 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total transaction of $617,591.04. Following the transaction, the chief executive officer owned 31,944 shares in the company, valued at approximately $9,341,064.48. This trade represents a 6.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amy Howe sold 4,097 shares of Flutter Entertainment 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. The trade was a 5.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FLUT shares. BTIG Research reduced their price target on shares of Flutter Entertainment from $321.00 to $271.00 and set a “buy” rating for the company in a research report on Thursday. Bank of America reissued a “neutral” rating and set a $250.00 price objective (down from $325.00) on shares of Flutter Entertainment in a report on Tuesday, November 4th. Stifel Nicolaus decreased their target price on shares of Flutter Entertainment from $339.00 to $330.00 and set a “buy” rating for the company in a research note on Thursday. Needham & Company LLC dropped their price target on Flutter Entertainment from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Zacks Research lowered Flutter Entertainment from a “hold” rating to a “strong sell” rating in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $319.22.

Flutter Entertainment Price Performance

Shares of FLUT opened at $198.97 on Friday. Flutter Entertainment PLC has a 1-year low of $193.27 and a 1-year high of $313.68. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. The company’s fifty day moving average price is $253.33 and its 200-day moving average price is $268.25. The firm has a market capitalization of $35.04 billion, a PE ratio of 98.01 and a beta of 1.84.

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

Flutter Entertainment announced that its Board of Directors has authorized 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 shares through open market purchases. Shares repurchase programs are typically a sign 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.