Sumitomo Mitsui Trust Group Inc. Has $100.25 Million Holdings in Flutter Entertainment PLC $FLUT

Sumitomo Mitsui Trust Group Inc. lifted its position in Flutter Entertainment PLC (NYSE:FLUT) by 1.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 350,827 shares of the company’s stock after purchasing an additional 5,517 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.20% of Flutter Entertainment worth $100,252,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Flutter Entertainment by 1.4% during 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 period. Robeco Institutional Asset Management B.V. lifted its stake in Flutter Entertainment by 1.9% during the first quarter. Robeco Institutional Asset Management B.V. now owns 30,964 shares of the company’s stock worth $6,860,000 after purchasing an additional 589 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Flutter Entertainment by 3.0% during the first quarter. Sequoia Financial Advisors LLC now owns 1,836 shares of the company’s stock valued at $407,000 after purchasing an additional 53 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Flutter Entertainment by 326.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,243 shares of the company’s stock valued at $742,000 after purchasing an additional 2,483 shares during the period. Finally, Alta Advisers Ltd acquired a new position in shares of Flutter Entertainment in the 1st quarter worth approximately $213,000.

Analyst Ratings Changes

A number of brokerages recently issued reports on FLUT. Truist Financial dropped their target price on shares of Flutter Entertainment from $350.00 to $335.00 and set a “buy” rating for the company in a research report on Tuesday. Canaccord Genuity Group lifted their target price on shares of Flutter Entertainment from $330.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Kepler Capital Markets upgraded Flutter Entertainment to a “strong-buy” rating in a research report on Thursday, August 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Flutter Entertainment in a report on Saturday. Finally, Sanford C. Bernstein cut their price objective on Flutter Entertainment from $340.00 to $330.00 and set a “market perform” rating for the company in a research report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued 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 $336.00.

Insider Transactions at Flutter Entertainment

In other Flutter Entertainment news, insider Daniel Mark Taylor sold 15,283 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was 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 of the company’s stock, valued at approximately $4,724,547.20. The trade was a 47.95% 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 Jeremy Peter Jackson sold 2,112 shares of the company’s stock in a transaction dated 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. The trade was a 6.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,396 shares of company stock valued at $6,759,745 in the last three months. Company insiders own 0.09% of the company’s stock.

Flutter Entertainment Stock Performance

FLUT stock opened at $244.09 on Friday. The company has a 50 day moving average price of $275.32 and a 200 day moving average price of $268.73. Flutter Entertainment PLC has a fifty-two week low of $196.88 and a fifty-two week 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 stock has a market capitalization of $42.98 billion, a PE ratio of 120.24 and a beta of 1.91.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, beating the consensus estimate of $2.08 by $0.87. The company had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. Analysts forecast that Flutter Entertainment PLC will post 4.17 EPS for the current year.

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

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.