Everpar Advisors LLC Acquires Shares of 906 Flutter Entertainment PLC $FLUT

Key Points

• Everpar Advisors LLC has acquired 906 shares of Flutter Entertainment PLC, valued at approximately $259,000, indicating growing interest from institutional investors in the company.
• Insider transactions saw significant sales, with Daniel Mark Taylor selling 15,283 shares and CEO Amy Howe selling 4,097 shares, reducing their overall positions.
• Flutter Entertainment's recent financial results exceeded analysts' expectations, reporting earnings per share of $2.95 and a net revenue of $4.19 billion, which reflects a 16.0% year-over-year growth.

Everpar Advisors LLC acquired a new stake in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 906 shares of the company's stock, valued at approximately $259,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA increased its stake in shares of Flutter Entertainment by 5.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,230,587 shares of the company's stock worth $715,737,000 after buying an additional 167,621 shares during the last quarter. Egerton Capital UK LLP increased its stake in shares of Flutter Entertainment by 16.9% in the first quarter. Egerton Capital UK LLP now owns 2,193,794 shares of the company's stock worth $486,035,000 after buying an additional 316,411 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Flutter Entertainment by 196.5% in the first quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company's stock worth $441,916,000 after buying an additional 1,322,016 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Flutter Entertainment by 52.2% in the first quarter. Deutsche Bank AG now owns 1,849,769 shares of the company's stock worth $409,816,000 after buying an additional 634,497 shares during the last quarter. Finally, Amundi increased its stake in shares of Flutter Entertainment by 77.3% in the first quarter. Amundi now owns 1,421,434 shares of the company's stock worth $309,332,000 after buying an additional 619,625 shares during the last quarter.

Flutter Entertainment Price Performance

FLUT traded up $2.39 on Friday, reaching $284.72. The company had a trading volume of 1,675,461 shares, compared to its average volume of 1,549,035. Flutter Entertainment PLC has a one year low of $196.88 and a one year high of $313.68. 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 company has a market capitalization of $50.14 billion, a P/E ratio of 140.26 and a beta of 2.29. The company has a fifty day moving average of $296.37 and a 200-day moving average of $264.28.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $2.95 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.87. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment's revenue was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its board has approved a share repurchase plan on Friday, August 8th that permits the company to buyback $245.00 million in shares. This buyback authorization permits the company to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 2,112 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were 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 approximately $9,341,064.48. This represents a 6.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Amy Howe sold 4,097 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 69,850 shares of the company's stock, valued at $21,367,813.50. The trade was a 5.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,396 shares of company stock valued at $6,759,745 over the last 90 days. Insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FLUT shares. UBS Group restated a "buy" rating and issued a $360.00 price target (up previously from $340.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Kepler Capital Markets upgraded shares of Flutter Entertainment to a "strong-buy" rating in a research note on Thursday, August 28th. Benchmark reiterated a "buy" rating and set a $365.00 target price (up previously from $300.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Peel Hunt lowered shares of Flutter Entertainment from an "add" rating to a "hold" rating in a research note on Friday, August 8th. Finally, Hsbc Global Res upgraded shares of Flutter Entertainment to a "hold" rating in a research note on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $332.70.

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.