Flutter Entertainment PLC $FLUT Holdings Boosted by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. grew its position in Flutter Entertainment PLC (NYSE:FLUT) by 3.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 53,697 shares of the company’s stock after purchasing an additional 1,700 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Flutter Entertainment were worth $15,344,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Citigroup Inc. boosted its holdings in shares of Flutter Entertainment by 52.7% in the second quarter. Citigroup Inc. now owns 808,998 shares of the company’s stock valued at $231,179,000 after acquiring an additional 279,167 shares in the last quarter. Persistent Asset Partners Ltd lifted its holdings in Flutter Entertainment by 48.6% in the 2nd quarter. Persistent Asset Partners Ltd now owns 2,183 shares of the company’s stock valued at $624,000 after acquiring an additional 714 shares during the last quarter. Kingsview Wealth Management LLC bought a new position in shares of Flutter Entertainment during the 2nd quarter valued at about $201,000. Intech Investment Management LLC acquired a new position in shares of Flutter Entertainment in the 2nd quarter worth approximately $2,070,000. Finally, Creative Planning bought a new stake in shares of Flutter Entertainment in the 2nd quarter worth approximately $296,000.

Insiders Place Their Bets

In related news, 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 sale, the chief executive officer directly owned 69,850 shares of the company’s stock, valued at $21,367,813.50. This trade represents a 5.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FLUT. Citizens Jmp raised their target price on shares of Flutter Entertainment from $340.00 to $345.00 and gave the stock a “market outperform” rating in a report on Thursday, November 13th. Oppenheimer decreased their target price on Flutter Entertainment from $350.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, October 14th. Kepler Capital Markets raised Flutter Entertainment to a “strong-buy” rating in a report on Thursday, August 28th. Bank of America reissued a “neutral” rating and issued a $250.00 price target (down previously from $325.00) on shares of Flutter Entertainment in a research note on Tuesday, November 4th. Finally, 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 report on Thursday, November 13th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Flutter Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $317.67.

Flutter Entertainment Stock Performance

Shares of FLUT opened at $193.38 on Thursday. The company has a market capitalization of $33.89 billion, a PE ratio of 95.26 and a beta of 1.84. 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 company’s 50 day moving average price is $247.45 and its 200 day moving average price is $267.37. Flutter Entertainment PLC has a 52 week low of $189.40 and a 52 week high of $313.68.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.87. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter last year, the firm earned $1.27 earnings per share. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. 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 permits the company to repurchase $245.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is 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.