Flutter Entertainment PLC $FLUT Shares Sold by Fernbridge Capital Management LP

Key Points

• Fernbridge Capital Management cut its stake in Flutter Entertainment (NYSE:FLUT) by 43.2% in Q3, selling 135,890 shares and leaving 178,577 shares worth about $45.36 million (≈0.10% of the company and its 13th-largest holding).
• Flutter's board authorized a $250 million share buyback (up to ~1.3% of shares), a move that signals management believes the stock may be undervalued and can support near-term demand.
• Multiple senior insiders sold stock recently — including the CEO and CFO — with insiders offloading 17,834 shares (~$1.9 million) last quarter, a pattern markets often view negatively.

Fernbridge Capital Management LP decreased its position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 43.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178,577 shares of the company's stock after selling 135,890 shares during the period. Flutter Entertainment accounts for approximately 2.2% of Fernbridge Capital Management LP's investment portfolio, making the stock its 13th largest position. Fernbridge Capital Management LP owned 0.10% of Flutter Entertainment worth $45,359,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FLUT. Vanguard Group Inc. lifted its holdings in Flutter Entertainment by 1.7% in the third quarter. Vanguard Group Inc. now owns 17,559,354 shares of the company's stock valued at $4,460,076,000 after acquiring an additional 301,879 shares during the last quarter. Parvus Asset Management Jersey Ltd acquired a new stake in Flutter Entertainment during the second quarter worth $2,231,266,000. Capital International Investors raised its position in Flutter Entertainment by 4.9% in the third quarter. Capital International Investors now owns 3,256,764 shares of the company's stock valued at $827,841,000 after purchasing an additional 153,390 shares during the period. Norges Bank purchased a new stake in Flutter Entertainment in the second quarter valued at $930,349,000. Finally, State Street Corp lifted its stake in shares of Flutter Entertainment by 120.3% in the 2nd quarter. State Street Corp now owns 3,086,730 shares of the company's stock valued at $882,064,000 after purchasing an additional 1,685,556 shares during the last quarter.

Flutter Entertainment Price Performance

FLUT opened at $108.26 on Friday. The stock's 50-day moving average price is $152.49 and its 200 day moving average price is $211.01. Flutter Entertainment PLC has a 12-month low of $99.96 and a 12-month high of $313.68. The firm has a market cap of $18.98 billion, a price-to-earnings ratio of -60.14, a PEG ratio of 0.72 and a beta of 2.30. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.31.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.37). The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.87 billion. Flutter Entertainment had a negative net margin of 1.89% and a positive return on equity of 12.12%. The business's revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.94 earnings per share. As a group, sell-side analysts expect that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment declared that its board has initiated a share buyback plan on Wednesday, March 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Texas Capital raised Flutter Entertainment to a "strong-buy" rating in a research report on Thursday, January 8th. Citizens Jmp decreased their target price on shares of Flutter Entertainment from $275.00 to $195.00 and set a "market outperform" rating on the stock in a research report on Friday, February 27th. Citigroup reaffirmed an "outperform" rating on shares of Flutter Entertainment in a research note on Monday, January 5th. Benchmark reduced their price target on shares of Flutter Entertainment from $285.00 to $175.00 and set a "buy" rating on the stock in a research note on Friday, February 27th. Finally, Sanford C. Bernstein restated a "market perform" rating and issued a $170.00 price objective on shares of Flutter Entertainment in a report on Friday, February 6th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Flutter Entertainment presently has a consensus rating of "Moderate Buy" and a consensus price target of $234.65.

Flutter Entertainment News Summary

Here are the key news stories impacting Flutter Entertainment this week:

• Positive Sentiment: Board authorizes buyback — The Board approved a $250 million share repurchase program (up to ~1.3% of shares), which reduces float and signals management thinks shares are undervalued; buybacks often support near-term stock demand. Flutter Entertainment NYSE: FLUT Announces Stock Buyback Program
• Positive Sentiment: Prediction markets & product investment — Management is expanding FanDuel Predicts and treating prediction markets as incremental TAM; company plans material investment to scale the product ahead of major sports seasons, which could drive revenue growth and engagement. 3 Stocks Betting Big on Prediction Markets This March Madness
• Positive Sentiment: Analyst/market write-ups lift valuation narrative — Recent commentary argues FLUT’s valuation has improved on updates and investor focus on scale/EBITDA could support multiple expansion if growth re-accelerates. Flutter Entertainment NYSE: FLUT Valuation Climbs Higher Following Latest Market Update
• Neutral Sentiment: Long-term opportunity debate — Commentary examines whether the recent multi-quarter share price decline creates a buy-the-dip chance; useful for investors weighing fundamentals vs. macro/sector headwinds. Has Flutter Entertainment NYSE: FLUT Share Price Slump Created A Long Term Opportunity?
• Neutral Sentiment: Director RSUs granted — The company issued restricted stock units to an independent director (standard governance/compensation action); modest dilution/expense but routine. Flutter grants RSUs to independent director Stefan Bomhard
• Negative Sentiment: Institutional trimming — Los Angeles-based Capital Group reduced its holding, a high-profile institutional seller that can pressure sentiment and indicate waning confidence from a major shareholder. Los Angeles fund Capital Group reduces Flutter Entertainment holding
• Negative Sentiment: Executive insider selling — Multiple senior executives disclosed large stock sales (CEO(s) and CFO reduced positions last week), which markets often view negatively even if sales are for diversification/liquidity. SEC Filing — Amy Howe Form 4

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 4,326 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $108.00, for a total value of $467,208.00. Following the completion of the transaction, the chief executive officer owned 36,788 shares of the company's stock, valued at $3,973,104. This trade represents a 10.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Robert Coldrake sold 4,613 shares of the business's stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $106.45, for a total transaction of $491,053.85. Following the completion of the transaction, the chief financial officer owned 10,006 shares of the company's stock, valued at approximately $1,065,138.70. This trade represents a 31.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 17,834 shares of company stock worth $1,900,331. Corporate insiders own 0.09% of the company's stock.

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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