Advent International L.P. Takes $420,000 Position in Flutter Entertainment PLC $FLUT

Key Points

• Advent International L.P. has acquired a new position in Flutter Entertainment PLC, purchasing 1,895 shares valued at approximately $420,000, making it the firm's 24th largest position.
• Insider trading activity includes CEO Amy Howe selling 4,097 shares for over $1.25 million and CEO Jeremy Peter Jackson selling 2,112 shares for approximately $617,591, indicating a slight decrease in their holdings.
• Analysts have expressed optimism for Flutter Entertainment, with multiple firms upgrading their ratings and price targets, resulting in an average rating of "Moderate Buy" with a consensus price target of $332.70.

Advent International L.P. purchased a new position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,895 shares of the company's stock, valued at approximately $420,000. Flutter Entertainment comprises about 0.0% of Advent International L.P.'s holdings, making the stock its 24th biggest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. GPS Wealth Strategies Group LLC lifted its stake in Flutter Entertainment by 1,375.0% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock valued at $26,000 after acquiring an additional 110 shares during the period. SVB Wealth LLC acquired a new stake in Flutter Entertainment during the 1st quarter valued at approximately $27,000. Tower Research Capital LLC TRC acquired a new stake in Flutter Entertainment during the 4th quarter valued at approximately $33,000. Parallel Advisors LLC lifted its stake in Flutter Entertainment by 78.9% during the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company's stock valued at $30,000 after acquiring an additional 60 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in Flutter Entertainment by 90.6% during the 1st quarter. Farther Finance Advisors LLC now owns 183 shares of the company's stock valued at $41,000 after acquiring an additional 87 shares during the period.

Flutter Entertainment Price Performance

NYSE FLUT traded up $2.81 on Friday, hitting $295.19. The company had a trading volume of 1,926,671 shares, compared to its average volume of 1,792,129. The company has a market capitalization of $51.98 billion, a PE ratio of 145.41, a PEG ratio of 1.42 and a beta of 2.29. The company's fifty day moving average price is $296.23 and its 200-day moving average price is $263.61. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. 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 results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, topping the consensus estimate of $2.08 by $0.87. The company had revenue of $4.19 billion during 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%. The company'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 predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment declared that its Board of Directors has authorized a stock repurchase plan on Friday, August 8th that permits the company to buyback $245.00 million in outstanding shares. This buyback authorization permits the company to buy up to 0.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

FLUT has been the subject of several research reports. Hsbc Global Res upgraded shares of Flutter Entertainment to a "hold" rating in a research note on Wednesday, June 18th. Stifel Nicolaus lifted their target price on shares of Flutter Entertainment from $353.00 to $356.00 and gave the company a "buy" rating in a report on Friday, August 8th. Benchmark reaffirmed a "buy" rating and set a $365.00 target price (up from $300.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Bank of America lifted their target price on shares of Flutter Entertainment from $295.00 to $330.00 and gave the company a "buy" rating in a report on Friday, July 11th. Finally, JMP Securities lifted their target price 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 research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $332.70.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, CEO Amy Howe sold 4,097 shares of Flutter Entertainment stock in a transaction 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeremy Peter Jackson sold 2,112 shares of Flutter Entertainment stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total transaction of $617,591.04. Following the sale, the chief executive officer directly owned 31,944 shares in the company, valued at approximately $9,341,064.48. This trade represents a 6.20% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,396 shares of company stock worth $6,759,745. Company insiders own 0.09% of the company's stock.

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.