Fox Run Management L.L.C. Makes New $895,000 Investment in Flutter Entertainment PLC $FLUT

Key Points

• Fox Run Management L.L.C. acquired 4,038 shares of Flutter Entertainment PLC, valued at approximately $895,000.
• Flutter reported strong earnings with $2.95 EPS for the quarter, exceeding estimates, alongside a quarterly revenue increase of 16.0% year-over-year.
• The company has approved a $245 million share repurchase plan, signaling management's belief that its shares are undervalued.

Fox Run Management L.L.C. acquired a new stake in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,038 shares of the company's stock, valued at approximately $895,000.

A number of other large investors also recently modified their holdings of FLUT. Raymond James Financial Inc. bought a new position in shares of Flutter Entertainment in the 4th quarter worth about $8,006,000. XTX Topco Ltd lifted its position in shares of Flutter Entertainment by 13.2% in the 4th quarter. XTX Topco Ltd now owns 1,787 shares of the company's stock worth $462,000 after buying an additional 209 shares during the last quarter. Gabelli Funds LLC bought a new position in shares of Flutter Entertainment in the 4th quarter worth about $251,000. United Capital Financial Advisors LLC bought a new position in shares of Flutter Entertainment in the 4th quarter worth about $962,000. Finally, NewEdge Advisors LLC lifted its position in shares of Flutter Entertainment by 21.7% in the 4th quarter. NewEdge Advisors LLC now owns 1,358 shares of the company's stock worth $352,000 after buying an additional 242 shares during the last quarter.

Wall Street Analyst Weigh In

FLUT has been the topic of a number of recent research reports. Hsbc Global Res upgraded shares of Flutter Entertainment to a "hold" rating in a research report on Wednesday, June 18th. Macquarie raised their price target on shares of Flutter Entertainment from $320.00 to $340.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Canaccord Genuity Group raised their price target on shares of Flutter Entertainment from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Stifel Nicolaus lifted their price objective on shares of Flutter Entertainment from $353.00 to $356.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Finally, Oppenheimer lifted their price objective on shares of Flutter Entertainment from $310.00 to $350.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $328.62.

Flutter Entertainment Price Performance

Flutter Entertainment stock traded up $1.9080 during trading hours on Wednesday, hitting $292.6680. 881,220 shares of the company traded hands, compared to its average volume of 2,322,455. The firm has a market cap of $51.54 billion, a P/E ratio of 144.23, a P/E/G ratio of 1.22 and a beta of 2.31. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The firm's 50-day simple moving average is $288.64 and its two-hundred day simple moving average is $261.39. Flutter Entertainment PLC has a 1-year low of $196.88 and a 1-year high of $313.68.

Flutter Entertainment (NYSE:FLUT - Get Free Report) 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 firm had revenue of $4.19 billion for the quarter, compared to analysts' expectations of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The business's revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has initiated a stock buyback program on Friday, August 8th that allows the company to repurchase $245.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 0.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Carolan Lennon sold 430 shares of Flutter Entertainment stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total value of $105,655.30. Following the transaction, the director owned 769 shares of the company's stock, valued at $188,950.99. The trade was a 35.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider James Philip Bishop sold 1,904 shares of Flutter Entertainment stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $281.64, for a total transaction of $536,242.56. Following the completion of the transaction, the insider directly owned 4,712 shares in the company, valued at $1,327,087.68. This represents a 28.78% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,642 shares of company stock worth $5,490,473. 0.09% of the stock is owned by insiders.

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.