9,924 Shares in Flutter Entertainment PLC $FLUT Purchased by Alpine Global Management LLC

Key Points

• Alpine Global Management LLC acquired a new position in Flutter Entertainment PLC, buying 9,924 shares valued at approximately $2.2 million.
• Several hedge funds increased their stakes in Flutter Entertainment during the first quarter, with Harbor Investment Advisory LLC boosting its stake by 43.8%.
• The company's stock recently received a target price increase from $280 to $340 from Truist Financial, indicating renewed analyst confidence.

Alpine Global Management LLC bought a new stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 9,924 shares of the company's stock, valued at approximately $2,199,000.

A number of other large investors also recently bought and sold shares of the stock. Tower Research Capital LLC TRC acquired a new stake in Flutter Entertainment in the fourth quarter worth $33,000. Stifel Financial Corp acquired a new stake in Flutter Entertainment in the 4th quarter valued at $1,401,000. Voya Investment Management LLC raised its position in shares of Flutter Entertainment by 204.6% during the fourth quarter. Voya Investment Management LLC now owns 7,020 shares of the company's stock worth $1,822,000 after acquiring an additional 4,715 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Flutter Entertainment by 36.9% during the fourth quarter. Northern Trust Corp now owns 608,457 shares of the company's stock worth $157,256,000 after buying an additional 164,023 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Flutter Entertainment by 96.1% in the 4th quarter. AQR Capital Management LLC now owns 131,401 shares of the company's stock valued at $33,961,000 after acquiring an additional 64,394 shares in the last quarter.

Flutter Entertainment Price Performance

FLUT stock traded down $3.84 during mid-day trading on Wednesday, hitting $295.16. The stock had a trading volume of 1,476,365 shares, compared to its average volume of 1,857,443. The firm has a market capitalization of $51.98 billion, a P/E ratio of 145.40, a P/E/G ratio of 1.49 and a beta of 2.29. 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 firm has a fifty day simple moving average of $295.48 and a 200 day simple moving average of $263.64. Flutter Entertainment PLC has a 52 week low of $196.88 and a 52 week high of $313.68.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.87. The company had revenue of $4.19 billion for the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. Flutter Entertainment's revenue for the quarter was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, 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 approved a share repurchase plan on Friday, August 8th that allows the company to buyback $245.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 0.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In other Flutter Entertainment news, CEO Amy Howe sold 4,097 shares of the business's stock in a transaction that occurred on 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 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction of $536,242.56. Following the completion of the transaction, the insider owned 4,712 shares in the company, valued at $1,327,087.68. This trade represents a 28.78% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,925 shares of company stock worth $6,888,837. Company insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Kepler Capital Markets raised Flutter Entertainment to a "strong-buy" rating in a research report on Thursday, August 28th. Canaccord Genuity Group increased their target price on Flutter Entertainment from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Macquarie raised their price objective on Flutter Entertainment from $320.00 to $340.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Needham & Company LLC upped their price target on Flutter Entertainment from $340.00 to $355.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, JMP Securities increased their price objective on shares of Flutter Entertainment from $323.00 to $345.00 and gave the company a "market outperform" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Flutter Entertainment presently has an average rating of "Moderate Buy" and an average target price of $332.70.

Flutter Entertainment 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.