Flutter Entertainment PLC $FLUT Position Lifted by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets increased its stake in Flutter Entertainment PLC by 196.5%, acquiring an additional 1,322,016 shares, bringing its total holdings to approximately 1.13% valued at $441.92 million.
• The company reported a strong quarterly performance, with earnings per share of $2.95, surpassing analyst estimates of $2.08, and a revenue growth of 16.0% year-over-year to $4.19 billion.
• Flutter Entertainment announced a share buyback program allowing it to repurchase up to $245 million in shares, indicating management's belief that the stock is undervalued.

BNP Paribas Financial Markets lifted its stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 196.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,994,656 shares of the company's stock after purchasing an additional 1,322,016 shares during the period. BNP Paribas Financial Markets owned approximately 1.13% of Flutter Entertainment worth $441,916,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC raised its position in Flutter Entertainment by 1,375.0% during the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock worth $26,000 after acquiring an additional 110 shares during the last quarter. SVB Wealth LLC acquired a new position in Flutter Entertainment during the first quarter worth about $27,000. Parallel Advisors LLC raised its position in shares of Flutter Entertainment by 78.9% in the first quarter. Parallel Advisors LLC now owns 136 shares of the company's stock valued at $30,000 after buying an additional 60 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Flutter Entertainment in the fourth quarter valued at approximately $33,000. Finally, Harbor Investment Advisory LLC raised its position in shares of Flutter Entertainment by 43.8% in the first quarter. Harbor Investment Advisory LLC now owns 184 shares of the company's stock valued at $41,000 after buying an additional 56 shares during the last quarter.

Insider Buying and Selling at Flutter Entertainment

In other news, insider Daniel Mark Taylor sold 15,283 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $284.80, for a total transaction of $4,352,598.40. Following the transaction, the insider directly owned 16,589 shares of the company's stock, valued at approximately $4,724,547.20. The trade was a 47.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the business's 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 transaction, the chief executive officer directly owned 31,944 shares in the company, valued at approximately $9,341,064.48. The trade was a 6.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,851 shares of company stock valued at $7,361,377. 0.09% of the stock is owned by company insiders.

Flutter Entertainment Trading Down 0.3%

FLUT traded down $0.87 during trading on Friday, hitting $307.73. 1,282,229 shares of the company's stock were exchanged, compared to its average volume of 1,970,213. The stock has a 50 day moving average price of $293.72 and a 200 day moving average price of $263.25. Flutter Entertainment PLC has a 1 year low of $196.88 and a 1 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 firm has a market cap of $54.19 billion, a P/E ratio of 151.59, a price-to-earnings-growth ratio of 1.49 and a beta of 2.31.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, topping 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 business had revenue of $4.19 billion for the quarter, compared to analysts' expectations of $3.06 billion. Flutter Entertainment'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 expect that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment declared that its board has approved a share buyback plan on Friday, August 8th that authorizes the company to buyback $245.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 0.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

FLUT has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price objective on shares of Flutter Entertainment from $353.00 to $356.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Kepler Capital Markets upgraded shares of Flutter Entertainment to a "strong-buy" rating in a report on Thursday. Citigroup restated a "buy" rating on shares of Flutter Entertainment in a report on Thursday, August 14th. Benchmark restated a "buy" rating and issued a $365.00 target price (up from $300.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Finally, JMP Securities boosted 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 analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.