62,326 Shares in Flutter Entertainment PLC $FLUT Bought by Vanderbilt University

Key Points

• Vanderbilt University bought 62,326 shares of Flutter Entertainment in the first quarter, worth about $6.33 million, making it the fund’s 14th-largest holding.
• Flutter also saw significant institutional interest from other large investors, including major position increases by firms such as Capital International Investors and Durable Capital Partners.
• Management activity was mixed: CEO Jeremy Peter Jackson sold shares for tax withholding, while COO James Philip Bishop bought 1,000 shares. The company also reported better-than-expected quarterly earnings and authorized a $250 million share buyback.

Vanderbilt University purchased a new position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 62,326 shares of the company's stock, valued at approximately $6,334,000. Flutter Entertainment accounts for 1.2% of Vanderbilt University's investment portfolio, making the stock its 14th biggest position.

A number of other hedge funds also recently bought and sold shares of FLUT. Cibc World Markets Corp purchased a new position in shares of Flutter Entertainment in the 4th quarter valued at about $1,678,841,000. Capital International Investors increased its stake in shares of Flutter Entertainment by 146.8% during the fourth quarter. Capital International Investors now owns 8,039,066 shares of the company's stock worth $1,728,772,000 after buying an additional 4,782,302 shares during the period. Norges Bank purchased a new stake in shares of Flutter Entertainment during the fourth quarter worth approximately $694,009,000. Durable Capital Partners LP increased its stake in shares of Flutter Entertainment by 274.2% during the third quarter. Durable Capital Partners LP now owns 1,243,988 shares of the company's stock worth $315,973,000 after buying an additional 911,507 shares during the period. Finally, PointState Capital LP raised its holdings in Flutter Entertainment by 132.7% in the fourth quarter. PointState Capital LP now owns 1,399,735 shares of the company's stock valued at $300,999,000 after acquiring an additional 798,302 shares in the last quarter.

Insider Buying and Selling at Flutter Entertainment

In related news, CEO Jeremy Peter Jackson sold 3,084 shares of Flutter Entertainment stock in a transaction on Monday, May 11th. The shares were sold at an average price of $98.13, for a total transaction of $302,632.92. Following the sale, the chief executive officer directly owned 74,326 shares in the company, valued at $7,293,610.38. This trade represents a 3.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO James Philip Bishop purchased 1,000 shares of the business's stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $99.75 per share, for a total transaction of $99,750.00. Following the completion of the purchase, the chief operating officer directly owned 17,605 shares in the company, valued at $1,756,098.75. This represents a 6.02% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have bought 10,453 shares of company stock worth $1,045,526 and have sold 5,994 shares worth $577,293. 0.13% of the stock is owned by corporate insiders.

Flutter Entertainment Price Performance

FLUT stock opened at $98.47 on Thursday. The business has a 50 day moving average price of $102.71 and a 200 day moving average price of $137.72. The stock has a market cap of $17.13 billion, a price-to-earnings ratio of -46.02, a PEG ratio of 1.27 and a beta of 1.40. Flutter Entertainment PLC has a fifty-two week low of $91.52 and a fifty-two week high of $313.68. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.09 by $0.13. The company had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The firm's revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.59 earnings per share. Equities research analysts anticipate that Flutter Entertainment PLC will post 5 earnings per share for the current fiscal year.

Flutter Entertainment announced that its board has approved a share buyback program on Wednesday, March 11th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FLUT shares. Freedom Capital upgraded shares of Flutter Entertainment to a "hold" rating in a research note on Monday. Canaccord Genuity Group dropped their price objective on shares of Flutter Entertainment from $270.00 to $220.00 and set a "buy" rating on the stock in a research report on Monday, March 2nd. Kepler Capital Markets lowered shares of Flutter Entertainment from a "strong-buy" rating to a "hold" rating in a report on Monday, March 16th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Flutter Entertainment in a research report on Wednesday, May 27th. Finally, Stifel Nicolaus lowered their target price on shares of Flutter Entertainment from $216.00 to $189.00 and set a "buy" rating for the company in a research note on Thursday, April 9th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $187.42.

About Flutter Entertainment

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company's primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter's brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.

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