Canada Pension Plan Investment Board Boosts Stock Position in Flutter Entertainment PLC $FLUT

Key Points

• The Canada Pension Plan Investment Board increased its holdings in Flutter Entertainment PLC by 98.0%, owning 450,119 shares worth approximately $99.7 million.
• Flutter Entertainment reported an earnings per share (EPS) of $2.95 for the quarter, exceeding analysts' expectations, and plans to initiate a $245 million share buyback program.
• Analysts have issued a consensus rating of "Moderate Buy" for Flutter Entertainment, with target price estimates ranging between $332.70 and $365.00.

Canada Pension Plan Investment Board raised its holdings in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 98.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 450,119 shares of the company's stock after acquiring an additional 222,830 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.25% of Flutter Entertainment worth $99,724,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. State of Wyoming lifted its position in shares of Flutter Entertainment by 24.1% during the first quarter. State of Wyoming now owns 665 shares of the company's stock valued at $147,000 after purchasing an additional 129 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management increased its stake in shares of Flutter Entertainment by 31.5% in the first quarter. Gerber Kawasaki Wealth & Investment Management now owns 5,824 shares of the company's stock worth $1,290,000 after purchasing an additional 1,396 shares in the last quarter. Lansdowne Partners UK LLP grew its stake in Flutter Entertainment by 47.3% during the first quarter. Lansdowne Partners UK LLP now owns 5,009 shares of the company's stock valued at $1,110,000 after acquiring an additional 1,608 shares in the last quarter. OMERS ADMINISTRATION Corp grew its stake in Flutter Entertainment by 791.2% during the first quarter. OMERS ADMINISTRATION Corp now owns 11,184 shares of the company's stock valued at $2,478,000 after acquiring an additional 9,929 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Flutter Entertainment by 196.5% during the first quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company's stock valued at $441,916,000 after acquiring an additional 1,322,016 shares in the last quarter.

Insider Activity at Flutter Entertainment

In related news, insider Daniel Mark Taylor sold 15,283 shares of Flutter Entertainment stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $284.80, for a total value of $4,352,598.40. Following the completion of the sale, the insider directly owned 16,589 shares in the company, valued at $4,724,547.20. The trade was a 47.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Amy Howe sold 4,097 shares of the stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $305.91, for a total value of $1,253,313.27. Following the sale, the chief executive officer directly owned 69,850 shares in the company, valued at $21,367,813.50. This trade represents a 5.54% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,396 shares of company stock worth $6,759,745. Corporate insiders own 0.09% of the company's stock.

Flutter Entertainment Price Performance

Shares of FLUT stock traded down $2.16 on Thursday, reaching $292.28. The company's stock had a trading volume of 589,912 shares, compared to its average volume of 2,265,560. The stock's fifty day simple moving average is $295.48 and its 200-day simple moving average is $263.64. 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 company has a market capitalization of $51.47 billion, a price-to-earnings ratio of 143.95, a price-to-earnings-growth ratio of 1.49 and a beta of 2.29.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $2.95 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment's quarterly revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. Analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

Several brokerages have issued reports on FLUT. Peel Hunt lowered shares of Flutter Entertainment from an "add" rating to a "hold" rating in a research report on Friday, August 8th. Stifel Nicolaus upped their price target 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. Zacks Research upgraded shares of Flutter Entertainment from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Barclays upped their price target on shares of Flutter Entertainment from $350.00 to $352.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Finally, Citigroup reissued a "buy" rating on shares of Flutter Entertainment in a research report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $332.70.

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.