KBC Group NV Lowers Holdings in Flutter Entertainment PLC $FLUT

KBC Group NV lowered its position in Flutter Entertainment PLC (NYSE:FLUT) by 3.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,063 shares of the company’s stock after selling 286 shares during the quarter. KBC Group NV’s holdings in Flutter Entertainment were worth $2,018,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC lifted its holdings in shares of Flutter Entertainment by 59.6% in the 1st quarter. CWM LLC now owns 217 shares of the company’s stock worth $48,000 after buying an additional 81 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of Flutter Entertainment by 213.6% in the first quarter. Allianz Asset Management GmbH now owns 2,970 shares of the company’s stock valued at $711,000 after acquiring an additional 2,023 shares in the last quarter. Egerton Capital UK LLP lifted its stake in Flutter Entertainment by 16.9% in the first quarter. Egerton Capital UK LLP now owns 2,193,794 shares of the company’s stock worth $486,035,000 after acquiring an additional 316,411 shares during the period. ANTIPODES PARTNERS Ltd grew its holdings in Flutter Entertainment by 27.1% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 150,231 shares of the company’s stock worth $32,870,000 after acquiring an additional 31,990 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in Flutter Entertainment by 4.2% during the 1st quarter. Cetera Investment Advisers now owns 11,765 shares of the company’s stock worth $2,607,000 after acquiring an additional 474 shares in the last quarter.

Insider Activity

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 2,112 shares of the company’s stock in a transaction that occurred 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 represents a 6.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Amy Howe sold 4,097 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $305.91, for a total transaction of $1,253,313.27. Following the completion of the transaction, the chief executive officer directly owned 69,850 shares of the company’s stock, valued at approximately $21,367,813.50. This represents a 5.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.09% of the company’s stock.

Flutter Entertainment Stock Performance

Shares of FLUT opened at $198.97 on Monday. 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 cap of $35.04 billion, a PE ratio of 98.01 and a beta of 1.84. Flutter Entertainment PLC has a 12 month low of $193.27 and a 12 month high of $313.68. The stock has a fifty day moving average price of $253.33 and a 200-day moving average price of $268.65.

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

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Benchmark dropped their price objective on shares of Flutter Entertainment from $365.00 to $310.00 and set a “buy” rating on the stock in a research note on Wednesday, October 15th. Weiss Ratings cut Flutter Entertainment from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Thursday. Sanford C. Bernstein cut their price target on Flutter Entertainment from $330.00 to $325.00 and set a “market perform” rating on the stock in a report on Monday, November 3rd. Needham & Company LLC reduced their price target on Flutter Entertainment from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Stifel Nicolaus dropped their price objective on Flutter Entertainment from $339.00 to $330.00 and set a “buy” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $319.22.

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.