1,946 Shares in Flutter Entertainment PLC $FLUT Bought by Corton Capital Inc.

Corton Capital Inc. acquired a new position in shares of Flutter Entertainment PLC (NYSE:FLUT) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,946 shares of the company’s stock, valued at approximately $556,000. Flutter Entertainment comprises 0.6% of Corton Capital Inc.’s investment portfolio, making the stock its 10th biggest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bank of Montreal Can raised its stake in Flutter Entertainment by 7.4% in the second quarter. Bank of Montreal Can now owns 179,711 shares of the company’s stock valued at $51,354,000 after buying an additional 12,430 shares during the last quarter. Eleva Capital SAS purchased a new stake in Flutter Entertainment in the second quarter valued at about $145,285,000. Cambiar Investors LLC raised its stake in Flutter Entertainment by 438.7% in the second quarter. Cambiar Investors LLC now owns 269,384 shares of the company’s stock valued at $76,979,000 after buying an additional 219,381 shares during the last quarter. Accuvest Global Advisors purchased a new stake in Flutter Entertainment in the second quarter valued at about $363,000. Finally, GHP Investment Advisors Inc. purchased a new stake in Flutter Entertainment in the second quarter valued at about $64,000.

Insider Transactions at Flutter Entertainment

In related news, CEO Jeremy Peter Jackson sold 2,112 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total value of $617,591.04. Following the completion of the sale, the chief executive officer directly owned 31,944 shares of the company’s stock, valued at $9,341,064.48. This represents a 6.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James Philip Bishop sold 1,904 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $281.64, for a total value of $536,242.56. Following the completion of the sale, the insider directly 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 23,396 shares of company stock valued at $6,759,745 in the last 90 days. Company insiders own 0.09% of the company’s stock.

Flutter Entertainment Stock Up 0.7%

Shares of NYSE:FLUT opened at $232.50 on Monday. Flutter Entertainment PLC has a 1 year low of $196.88 and a 1 year high of $313.68. The firm’s 50-day moving average is $269.48 and its two-hundred day moving average is $269.40. 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 firm has a market capitalization of $40.94 billion, a PE ratio of 114.53 and a beta of 1.91.

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

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on FLUT shares. BTIG Research set a $321.00 price objective on Flutter Entertainment in a research note on Thursday. UBS Group reiterated a “buy” rating and issued a $360.00 target price (up from $340.00) on shares of Flutter Entertainment in a research report on Friday, August 8th. JMP Securities reduced their target price on shares of Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating on the stock in a research note on Wednesday, October 1st. Peel Hunt downgraded shares of Flutter Entertainment from an “add” rating to a “hold” rating in a research note on Friday, August 8th. Finally, Stifel Nicolaus cut their price target on shares of Flutter Entertainment from $356.00 to $339.00 and set a “buy” rating for the company in a report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Flutter Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $334.95.

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.