97,142 Shares in Flutter Entertainment PLC $FLUT Purchased by Capital Fund Management S.A.

Key Points

• Capital Fund Management S.A. purchased 97,142 shares of Flutter Entertainment PLC during Q1, valued at approximately $21.52 million, representing 0.05% ownership in the company as of the latest SEC filing.
• Analysts have issued mostly positive ratings, with 21 buy ratings and forecasts putting the average target price at $328.62, reflecting a general optimism about Flutter's growth prospects.
• Flutter Entertainment's recent quarterly earnings exceeded expectations, reporting $2.95 EPS and revenues of $4.19 billion, leading to a stock buyback program of up to $245 million as management views the stock as undervalued.

Capital Fund Management S.A. purchased a new position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 97,142 shares of the company's stock, valued at approximately $21,522,000. Capital Fund Management S.A. owned approximately 0.05% of Flutter Entertainment as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in Flutter Entertainment by 326.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,243 shares of the company's stock valued at $742,000 after buying an additional 2,483 shares in the last quarter. Whalen Wealth Management Inc. acquired a new stake in Flutter Entertainment during the first quarter valued at approximately $380,000. Rubicon Global Capital Ltd raised its stake in Flutter Entertainment by 56.1% during the first quarter. Rubicon Global Capital Ltd now owns 70,250 shares of the company's stock valued at $15,564,000 after buying an additional 25,250 shares in the last quarter. Bessemer Group Inc. raised its stake in Flutter Entertainment by 0.6% during the first quarter. Bessemer Group Inc. now owns 397,297 shares of the company's stock valued at $88,021,000 after buying an additional 2,478 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Flutter Entertainment by 1.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company's stock valued at $1,060,000 after buying an additional 67 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Macquarie upped their price objective on Flutter Entertainment from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Zacks Research upgraded Flutter Entertainment from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. Peel Hunt cut Flutter Entertainment from an "add" rating to a "hold" rating in a research note on Friday, August 8th. Canaccord Genuity Group upped their price objective on Flutter Entertainment from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Finally, Truist Financial upped their target price on Flutter Entertainment from $280.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. 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 an average rating of "Moderate Buy" and a consensus price target of $328.62.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT opened at $294.3080 on Thursday. 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 stock has a 50 day simple moving average of $289.14 and a 200-day simple moving average of $261.62. The company has a market cap of $51.83 billion, a PE ratio of 144.98, a P/E/G ratio of 1.21 and a beta of 2.31. Flutter Entertainment PLC has a 12-month low of $196.88 and a 12-month high of $313.68.

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

Flutter Entertainment declared that its Board of Directors has initiated a stock buyback program on Friday, August 8th that allows the company to buyback $245.00 million in shares. This buyback authorization allows the company to repurchase up to 0.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at Flutter Entertainment

In other news, Director Carolan Lennon sold 430 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total transaction of $105,655.30. Following the completion of the transaction, the director directly owned 769 shares in the company, valued at approximately $188,950.99. The trade was a 35.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James Philip Bishop sold 1,904 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $281.64, for a total value of $536,242.56. Following the transaction, the insider owned 4,712 shares of the company's stock, valued at approximately $1,327,087.68. This represents a 28.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,642 shares of company stock valued at $5,490,473. 0.09% of the stock is currently owned by insiders.

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.

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