Flutter Entertainment PLC $FLUT Shares Acquired by TimesSquare Capital Management LLC

Key Points

• TimesSquare Capital Management increased its stake in Flutter Entertainment by 5.3% in the fourth quarter, adding 20,203 shares to reach 399,081 shares valued at about $85.8 million.
• Flutter reported better-than-expected quarterly results, with EPS of $1.22 versus estimates of $1.09 and revenue of $4.30 billion, up 17.4% year over year.
• The company also approved a $250 million share buyback, while analysts currently maintain a Moderate Buy consensus on the stock despite several price-target cuts.

TimesSquare Capital Management LLC grew its holdings in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 399,081 shares of the company's stock after acquiring an additional 20,203 shares during the period. Flutter Entertainment comprises approximately 1.3% of TimesSquare Capital Management LLC's portfolio, making the stock its 21st largest position. TimesSquare Capital Management LLC owned 0.23% of Flutter Entertainment worth $85,818,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Flutter Entertainment by 5.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company's stock worth $290,000 after acquiring an additional 69 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Flutter Entertainment in the second quarter worth $405,000. Creative Planning acquired a new position in shares of Flutter Entertainment in the second quarter worth $296,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Flutter Entertainment by 246.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company's stock worth $53,000 after acquiring an additional 133 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Flutter Entertainment by 74.6% in the second quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company's stock worth $71,000 after acquiring an additional 106 shares in the last quarter.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, CFO Robert Coldrake sold 4,613 shares of Flutter Entertainment stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $106.45, for a total value of $491,053.85. Following the transaction, the chief financial officer owned 10,006 shares in the company, valued at $1,065,138.70. This trade represents a 31.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel Mark Taylor purchased 1,611 shares of the firm's stock in a transaction on Tuesday, May 12th. The stock was bought at an average price of $94.29 per share, for a total transaction of $151,901.19. Following the acquisition, the chief executive officer owned 34,584 shares in the company, valued at $3,260,925.36. The trade was a 4.89% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have bought 10,453 shares of company stock valued at $1,045,526 and have sold 22,306 shares valued at $2,333,598. Company insiders own 0.09% of the company's stock.

Flutter Entertainment Stock Up 5.4%

FLUT stock opened at $97.34 on Tuesday. The company's 50 day simple moving average is $105.05 and its 200-day simple moving average is $158.53. The firm has a market capitalization of $16.93 billion, a PE ratio of -45.49, a P/E/G ratio of 1.22 and a beta of 1.58. Flutter Entertainment PLC has a 12 month low of $91.52 and a 12 month high of $313.68. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.09 by $0.13. The business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The company's quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.59 earnings per share. Equities analysts expect that Flutter Entertainment PLC will post 4.88 earnings per share for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has approved a share buyback plan on Wednesday, March 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

FLUT has been the subject of a number of analyst reports. Benchmark lowered their target price on shares of Flutter Entertainment from $175.00 to $132.00 and set a "buy" rating for the company in a research note on Thursday, May 7th. Canaccord Genuity Group reduced their price target on shares of Flutter Entertainment from $270.00 to $220.00 and set a "buy" rating for the company in a research report on Monday, March 2nd. Needham & Company LLC reduced their target price on shares of Flutter Entertainment from $150.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, May 7th. Moffett Nathanson cut shares of Flutter Entertainment from a "buy" rating to a "neutral" rating and set a $127.00 target price for the company. in a report on Friday, April 24th. Finally, Sanford C. Bernstein cut their price target on shares of Flutter Entertainment from $125.00 to $115.00 and set a "market perform" rating for the company in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $189.26.

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company's primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter's brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.

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