Cambiar Investors LLC Makes New Investment in Flutter Entertainment PLC $FLUT

Key Points

• Cambiar Investors LLC acquired a new stake in Flutter Entertainment PLC, purchasing 50,003 shares valued at approximately $11 million during the 1st quarter.
• Flutter Entertainment reported a quarterly earnings per share (EPS) of $2.95, significantly beating estimates and showing a 16% year-over-year revenue increase to $4.19 billion.
• The company authorized a $245 million stock buyback plan, indicating that management believes the shares are undervalued.

Cambiar Investors LLC acquired a new position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 50,003 shares of the company's stock, valued at approximately $11,078,000.

A number of other large investors also recently modified their holdings of FLUT. Capital World Investors increased its holdings in shares of Flutter Entertainment by 11.9% during the fourth quarter. Capital World Investors now owns 15,426,515 shares of the company's stock valued at $3,986,968,000 after purchasing an additional 1,635,241 shares during the period. Parvus Asset Management Europe Ltd acquired a new position in shares of Flutter Entertainment during the fourth quarter valued at $2,146,227,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Flutter Entertainment by 5.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,230,587 shares of the company's stock valued at $715,737,000 after purchasing an additional 167,621 shares during the period. Egerton Capital UK LLP increased its holdings in shares of Flutter Entertainment by 16.9% during the first quarter. Egerton Capital UK LLP now owns 2,193,794 shares of the company's stock valued at $486,035,000 after purchasing an additional 316,411 shares during the period. Finally, Lone Pine Capital LLC acquired a new position in shares of Flutter Entertainment during the fourth quarter valued at $494,291,000.

Insiders Place Their Bets

In related news, insider James Philip Bishop sold 1,904 shares of the stock in a transaction 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John A. Bryant sold 418 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total value of $102,706.78. Following the completion of the transaction, the director owned 5,956 shares of the company's stock, valued at $1,463,448.76. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,642 shares of company stock worth $5,490,473 over the last three months. Company insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FLUT shares. Zacks Research raised Flutter Entertainment from a "strong sell" rating to a "hold" rating in a report on Friday. Barclays raised their price target on Flutter Entertainment from $350.00 to $352.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Macquarie raised their price target on Flutter Entertainment from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Jefferies Financial Group assumed coverage on Flutter Entertainment in a report on Tuesday, July 8th. They set a "buy" rating and a $380.00 target price on the stock. Finally, BTIG Research lowered their target price on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $328.62.

Flutter Entertainment Trading Down 0.8%

Shares of NYSE:FLUT traded down $2.4390 during midday trading on Tuesday, reaching $291.5610. The company had a trading volume of 2,013,839 shares, compared to its average volume of 2,207,030. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95. Flutter Entertainment PLC has a 1-year low of $196.88 and a 1-year high of $313.68. The firm has a market cap of $51.34 billion, a price-to-earnings ratio of 143.63, a price-to-earnings-growth ratio of 1.22 and a beta of 2.31. The company has a fifty day simple moving average of $288.64 and a two-hundred day simple moving average of $261.39.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $2.95 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.87. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The business had revenue of $4.19 billion during the quarter, compared to analyst estimates of $3.06 billion. The company'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. Research analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its Board of Directors has approved a share buyback program on Friday, August 8th that allows the company to buyback $245.00 million in shares. This buyback authorization allows the company to purchase up to 0.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

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.