Envestnet Portfolio Solutions Inc. Acquires 150 Shares of Flutter Entertainment PLC $FLUT

Envestnet Portfolio Solutions Inc. raised its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT) by 12.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,325 shares of the company’s stock after purchasing an additional 150 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Flutter Entertainment were worth $379,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. PARUS FINANCE UK Ltd lifted its position in Flutter Entertainment by 1.5% during the first quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company’s stock valued at $742,000 after purchasing an additional 50 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Flutter Entertainment by 3.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,836 shares of the company’s stock worth $407,000 after acquiring an additional 53 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Flutter Entertainment by 44.9% in the 2nd quarter. Parallel Advisors LLC now owns 197 shares of the company’s stock worth $56,000 after acquiring an additional 61 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Flutter Entertainment by 98.5% in the 2nd quarter. Signaturefd LLC now owns 129 shares of the company’s stock worth $37,000 after acquiring an additional 64 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Flutter Entertainment by 1.4% in the 1st 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 last quarter.

Flutter Entertainment Trading Up 0.2%

FLUT stock opened at $251.64 on Thursday. The company has a market capitalization of $44.31 billion, a PE ratio of 123.96 and a beta of 1.91. Flutter Entertainment PLC has a 12 month low of $196.88 and a 12 month high of $313.68. The firm’s 50-day moving average is $277.07 and its 200 day moving average is $267.87. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, topping the consensus estimate of $2.08 by $0.87. The company had revenue of $4.19 billion for 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 quarterly revenue was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment declared that its board has approved a share repurchase plan on Friday, August 8th that allows the company to buyback $245.00 million in outstanding shares. This buyback authorization allows the company to buy up to 0.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have recently issued reports on FLUT. Citigroup restated a “buy” rating on shares of Flutter Entertainment in a report on Thursday, August 14th. Macquarie raised their target price on shares of Flutter Entertainment from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Needham & Company LLC raised their target price on shares of Flutter Entertainment from $340.00 to $355.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Zacks Research upgraded shares of Flutter Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. Finally, Canaccord Genuity Group raised their target price on shares of Flutter Entertainment from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $336.00.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, insider James Philip Bishop sold 1,904 shares of the firm’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $281.64, for a total transaction of $536,242.56. Following the transaction, the insider owned 4,712 shares of the company’s stock, valued at approximately $1,327,087.68. This trade represents a 28.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amy Howe sold 4,097 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 69,850 shares in the company, valued at $21,367,813.50. This trade represents a 5.54% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,396 shares of company stock worth $6,759,745. Company insiders own 0.09% of the company’s stock.

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.