Border to Coast Pensions Partnership Ltd Cuts Stock Position in Flutter Entertainment PLC $FLUT

Key Points

• Border to Coast Pensions Partnership Ltd reduced its stake in Flutter Entertainment PLC by 3.6%, selling 4,182 shares and holding 112,973 shares at a value of $31.95 million.
• Flutter Entertainment posted a quarterly revenue of $4.19 billion, significantly surpassing estimates of $3.06 billion, and reported an EPS of $2.95 for the quarter.
• The company's Board of Directors approved a $245 million stock buyback plan indicating confidence in the stock’s value, alongside recent insider selling of shares.

Border to Coast Pensions Partnership Ltd decreased its position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 3.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,973 shares of the company's stock after selling 4,182 shares during the quarter. Border to Coast Pensions Partnership Ltd owned approximately 0.06% of Flutter Entertainment worth $31,953,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of FLUT. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Flutter Entertainment by 326.7% in 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 during the period. Whalen Wealth Management Inc. acquired a new position in shares of Flutter Entertainment during the first quarter worth $380,000. Rubicon Global Capital Ltd lifted its holdings in shares of Flutter Entertainment by 56.1% during the first quarter. Rubicon Global Capital Ltd now owns 70,250 shares of the company's stock worth $15,564,000 after purchasing an additional 25,250 shares during the period. Bessemer Group Inc. lifted its holdings in shares of Flutter Entertainment by 0.6% during the first quarter. Bessemer Group Inc. now owns 397,297 shares of the company's stock worth $88,021,000 after purchasing an additional 2,478 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Flutter Entertainment by 1.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company's stock worth $1,060,000 after purchasing an additional 67 shares during the period.

Flutter Entertainment Stock Performance

Flutter Entertainment stock traded up $0.19 during mid-day trading on Tuesday, reaching $285.51. 711,690 shares of the company's stock were exchanged, compared to its average volume of 2,229,606. The business's fifty day simple moving average is $296.17 and its 200 day simple moving average is $264.60. The firm has a market capitalization of $50.28 billion, a PE ratio of 140.57 and a beta of 2.30. Flutter Entertainment PLC has a one year low of $196.88 and a one year high of $313.68. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its 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. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The firm had revenue of $4.19 billion during the quarter, compared to analyst estimates of $3.06 billion. The firm'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, sell-side analysts expect that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

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

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, insider James Philip Bishop sold 1,904 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $281.64, for a total transaction of $536,242.56. Following the sale, the insider directly owned 4,712 shares of the company's stock, valued at $1,327,087.68. This represents a 28.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the sale, the chief executive officer directly owned 69,850 shares in the company, valued at approximately $21,367,813.50. This trade represents a 5.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,396 shares of company stock valued at $6,759,745 in the last three months. Insiders own 0.09% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on FLUT. Zacks Research raised Flutter Entertainment from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Oppenheimer upped their target price on Flutter Entertainment from $310.00 to $350.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Barclays upped their target price on Flutter Entertainment from $350.00 to $352.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Needham & Company LLC boosted their price target on shares of Flutter Entertainment from $340.00 to $355.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, Sanford C. Bernstein restated a "market perform" rating on shares of Flutter Entertainment in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently 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.