Barrett & Company Inc. Makes New $29,000 Investment in Flutter Entertainment PLC $FLUT

Barrett & Company Inc. bought a new position in Flutter Entertainment PLC (NYSE:FLUT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 100 shares of the company’s stock, valued at approximately $29,000.

A number of other large investors have also recently bought and sold shares of the business. Phraction Management LLC bought a new position in Flutter Entertainment in the second quarter worth about $200,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Flutter Entertainment by 60.1% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,192 shares of the company’s stock valued at $1,484,000 after buying an additional 1,949 shares during the last quarter. Platinum Investment Management Ltd. raised its holdings in shares of Flutter Entertainment by 5.3% during the second quarter. Platinum Investment Management Ltd. now owns 40,000 shares of the company’s stock valued at $11,377,000 after buying an additional 2,000 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Flutter Entertainment during the second quarter valued at approximately $524,000. Finally, V Square Quantitative Management LLC bought a new stake in shares of Flutter Entertainment during the second quarter valued at approximately $74,000.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on FLUT shares. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Flutter Entertainment in a report on Friday, August 8th. Needham & Company LLC lifted their price target on Flutter Entertainment from $340.00 to $355.00 and gave the company a “buy” rating in a report on Friday, August 8th. Zacks Research raised Flutter Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. UBS Group reaffirmed a “buy” rating and set a $360.00 price target (up previously from $340.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Finally, BTIG Research cut their price target on Flutter Entertainment from $357.00 to $324.00 and set a “buy” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Flutter Entertainment presently has an average rating of “Moderate Buy” and an average target price of $337.32.

Flutter Entertainment Price Performance

NYSE FLUT opened at $256.31 on Friday. The stock has a market capitalization of $45.14 billion, a P/E ratio of 126.26 and a beta of 1.91. Flutter Entertainment PLC has a 1 year low of $196.88 and a 1 year high of $313.68. The business’s fifty day moving average is $290.24 and its two-hundred day moving average is $266.36. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings results on Thursday, August 7th. The company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.87. The company had revenue of $4.19 billion for 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 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 forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Flutter Entertainment announced that its board has initiated a share buyback plan 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 2,112 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total value of $617,591.04. Following the transaction, the chief executive officer owned 31,944 shares of the company’s stock, valued at approximately $9,341,064.48. This represents a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel Mark Taylor sold 15,283 shares of the company’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $284.80, for a total value of $4,352,598.40. Following the completion of the transaction, the insider directly owned 16,589 shares in the company, valued at $4,724,547.20. This represents a 47.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,396 shares of company stock worth $6,759,745 over the last three months. Corporate insiders own 0.09% of the company’s stock.

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.