Flutter Entertainment PLC $FLUT Shares Acquired by Swiss National Bank

Swiss National Bank boosted its stake in Flutter Entertainment PLC (NYSE:FLUT) by 6.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 535,182 shares of the company’s stock after buying an additional 33,800 shares during the period. Swiss National Bank’s holdings in Flutter Entertainment were worth $152,934,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FLUT. SVB Wealth LLC acquired a new stake in shares of Flutter Entertainment in the 1st quarter worth approximately $27,000. ORG Partners LLC raised its holdings in Flutter Entertainment by 300.0% during the second quarter. ORG Partners LLC now owns 100 shares of the company’s stock worth $28,000 after purchasing an additional 75 shares in the last quarter. Barrett & Company Inc. acquired a new stake in Flutter Entertainment in the second quarter worth approximately $29,000. Signaturefd LLC boosted its stake in Flutter Entertainment by 98.5% during the 2nd quarter. Signaturefd LLC now owns 129 shares of the company’s stock valued at $37,000 after purchasing an additional 64 shares in the last quarter. Finally, Allworth Financial LP increased its position in shares of Flutter Entertainment by 116.4% during the 2nd quarter. Allworth Financial LP now owns 145 shares of the company’s stock valued at $41,000 after purchasing an additional 78 shares during the period.

Insider Buying and Selling

In other Flutter Entertainment news, CEO Amy Howe sold 4,097 shares of Flutter Entertainment stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 69,850 shares in the company, valued at approximately $21,367,813.50. The trade was a 5.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Flutter Entertainment Trading Up 0.3%

Shares of FLUT opened at $193.16 on Friday. The business’s 50-day moving average price is $243.69 and its 200 day moving average price is $266.46. 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 stock has a market capitalization of $33.86 billion, a P/E ratio of 95.15 and a beta of 1.84. Flutter Entertainment PLC has a 1-year low of $189.40 and a 1-year high of $313.68.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Wednesday, November 12th. The company reported $1.64 EPS for the quarter, topping the consensus estimate of $0.77 by $0.87. The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period last year, the company posted $1.27 earnings per share. Flutter Entertainment has set its FY 2025 guidance at EPS. Analysts expect that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its Board of Directors has approved a stock buyback program on Friday, August 8th that allows the company to repurchase $245.00 million in shares. This repurchase authorization allows the company to buy up to 0.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

FLUT has been the subject of several research analyst reports. Citigroup lowered Flutter Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, November 4th. BTIG Research dropped their price target on shares of Flutter Entertainment from $321.00 to $271.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Stifel Nicolaus reduced their price objective on shares of Flutter Entertainment from $339.00 to $330.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Truist Financial lowered their price objective on shares of Flutter Entertainment from $335.00 to $305.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Finally, Kepler Capital Markets upgraded shares of Flutter Entertainment to a “strong-buy” rating in a report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $316.35.

Flutter Entertainment Company 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.