CTC Alternative Strategies Ltd. Takes $820,000 Position in Flutter Entertainment PLC $FLUT

Key Points

• CTC Alternative Strategies Ltd. has purchased a new stake in Flutter Entertainment PLC valued at approximately $820,000, making it the firm's 22nd largest holding.
• In recent stock activity, insiders sold a combined 23,396 shares valued at over $6.7 million, indicating a reduction in their ownership stakes.
• Flutter Entertainment's stock was recently upgraded by multiple analysts, with price targets raised significantly, reflecting strong investor confidence and a consensus rating of "Moderate Buy."

CTC Alternative Strategies Ltd. bought a new stake in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,700 shares of the company's stock, valued at approximately $820,000. Flutter Entertainment comprises about 1.0% of CTC Alternative Strategies Ltd.'s investment portfolio, making the stock its 22nd biggest holding.

Several other large investors also recently added to or reduced their stakes in FLUT. PARUS FINANCE UK Ltd boosted its stake in Flutter Entertainment by 1.5% in the 1st quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company's stock worth $742,000 after purchasing an additional 50 shares during the period. Sequoia Financial Advisors LLC lifted its position in Flutter Entertainment by 3.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,836 shares of the company's stock worth $407,000 after buying an additional 53 shares during the last quarter. Harbor Investment Advisory LLC lifted its position in 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 purchasing an additional 56 shares during the last quarter. Parallel Advisors LLC lifted its position in 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 purchasing an additional 60 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in Flutter Entertainment by 1.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company's stock valued at $1,060,000 after purchasing an additional 67 shares during the last quarter.

Insiders Place Their Bets

In related news, insider James Philip Bishop sold 1,904 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $281.64, for a total transaction of $536,242.56. Following the completion of the sale, the insider owned 4,712 shares in the company, valued at approximately $1,327,087.68. This trade represents a 28.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total value of $617,591.04. Following the transaction, the chief executive officer owned 31,944 shares of the company's stock, valued at $9,341,064.48. This represents a 6.20% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,396 shares of company stock worth $6,759,745. Company insiders own 0.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FLUT shares. JMP Securities boosted their price objective on shares of Flutter Entertainment from $323.00 to $345.00 and gave the company a "market outperform" rating in a research report on Friday, August 8th. Barclays increased their target price on Flutter Entertainment from $350.00 to $352.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Kepler Capital Markets raised Flutter Entertainment to a "strong-buy" rating in a report on Thursday, August 28th. Oppenheimer upped their price target on Flutter Entertainment from $310.00 to $350.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Finally, Bank of America upped their price target on Flutter Entertainment from $295.00 to $330.00 and gave the company a "buy" rating in a report on Friday, July 11th. One research 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 stock. According to data from MarketBeat.com, Flutter Entertainment currently has an average rating of "Moderate Buy" and a consensus target price of $332.70.

Flutter Entertainment Stock Up 1.0%

NYSE FLUT opened at $295.19 on Monday. The stock's 50-day moving average price is $296.23 and its 200-day moving average price is $263.24. 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 PLC has a 52 week low of $196.88 and a 52 week high of $313.68. The company has a market capitalization of $51.98 billion, a P/E ratio of 145.41 and a beta of 2.30.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $2.95 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate 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. On average, equities 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 initiated a stock buyback program on Friday, August 8th that permits the company to repurchase $245.00 million in shares. This repurchase authorization permits the company to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

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.

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