Flutter Entertainment PLC $FLUT Stock Holdings Increased by HMI Capital Management L.P.

Key Points

• HMI Capital Management L.P. increased its stake in Flutter Entertainment PLC by 21.8%, making it the firm's 4th largest position, with ownership of over 1 million shares worth approximately $224.9 million.
• Analysts have a consensus rating of "Moderate Buy" on Flutter Entertainment, with a price target averaging around $332.70, and several firms recently raised their price targets for the stock.
• Flutter's recent financial results surpassed expectations, reporting $2.95 EPS and $4.19 billion in revenue, and the board has approved a stock repurchase program totaling $245 million, indicating management's confidence in the company's value.

HMI Capital Management L.P. raised its stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 21.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,015,209 shares of the company's stock after acquiring an additional 181,400 shares during the quarter. Flutter Entertainment comprises 12.2% of HMI Capital Management L.P.'s holdings, making the stock its 4th largest position. HMI Capital Management L.P. owned 0.57% of Flutter Entertainment worth $224,920,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Flutter Entertainment by 326.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,243 shares of the company's stock valued at $742,000 after acquiring an additional 2,483 shares during the last quarter. Whalen Wealth Management Inc. acquired a new position in shares of Flutter Entertainment during the first quarter valued at about $380,000. Rubicon Global Capital Ltd grew 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 valued at $15,564,000 after buying an additional 25,250 shares during the last quarter. Bessemer Group Inc. grew 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 valued at $88,021,000 after buying an additional 2,478 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in 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 last quarter.

Flutter Entertainment Stock Up 1.5%

NYSE:FLUT traded up $4.19 during mid-day trading on Tuesday, reaching $292.23. The company's stock had a trading volume of 756,216 shares, compared to its average volume of 2,266,101. Flutter Entertainment PLC has a 1 year low of $196.88 and a 1 year high of $313.68. The stock has a fifty day moving average of $296.27 and a 200-day moving average of $263.35. The firm has a market capitalization of $51.46 billion, a PE ratio of 143.98 and a beta of 2.30. 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 posted its quarterly earnings data 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 net margin of 2.96% and a return on equity of 12.15%. The firm had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $3.06 billion. The business's revenue for the quarter was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. Equities research analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its board has approved a share buyback program on Friday, August 8th that permits the company to buyback $245.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 0.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have commented on FLUT shares. Macquarie lifted their price objective on shares of Flutter Entertainment from $320.00 to $340.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Needham & Company LLC upped their target price on shares of Flutter Entertainment from $340.00 to $355.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Benchmark reissued a "buy" rating and issued a $365.00 price target (up previously from $300.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Barclays upped their price objective on shares of Flutter Entertainment from $350.00 to $352.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Finally, JMP Securities upped 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 note on Friday, August 8th. One 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's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $332.70.

Insider Buying and Selling

In other news, insider Daniel Mark Taylor sold 15,283 shares of the business's stock in a transaction that occurred on 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 transaction, the insider 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 accessible through this hyperlink. Also, CEO Amy Howe sold 4,097 shares of the company's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $305.91, for a total value of $1,253,313.27. Following the transaction, the chief executive officer directly owned 69,850 shares in the company, valued at $21,367,813.50. This represents a 5.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,396 shares of company stock valued at $6,759,745 over the last 90 days. Insiders own 0.09% of the company's stock.

About Flutter Entertainment

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.