Makaira Partners LLC Sells 92,013 Shares of Flutter Entertainment PLC $FLUT

Key Points

• Makaira Partners LLC has reduced its stake in Flutter Entertainment PLC by 46.4%, selling 92,013 shares and retaining 106,422 shares, valued at approximately $23.58 million.
• Insider trading activity includes significant share sales, with CEO Jeremy Peter Jackson selling 2,112 shares and insider James Philip Bishop selling 1,904 shares, leading to decreased ownership stakes for both.
• Flutter Entertainment announced a $245 million stock repurchase plan, signaling company leadership's belief that its stock is undervalued as it seeks to buy back 0.5% of its outstanding shares.

Makaira Partners LLC lessened its position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 46.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,422 shares of the company's stock after selling 92,013 shares during the quarter. Flutter Entertainment comprises about 7.9% of Makaira Partners LLC's investment portfolio, making the stock its 6th biggest position. Makaira Partners LLC owned about 0.06% of Flutter Entertainment worth $23,578,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of FLUT. GPS Wealth Strategies Group LLC increased its holdings in shares of Flutter Entertainment by 1,375.0% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock worth $26,000 after purchasing an additional 110 shares during the period. SVB Wealth LLC bought a new position in shares of Flutter Entertainment during the 1st quarter worth about $27,000. Parallel Advisors LLC increased its holdings in shares of Flutter Entertainment by 78.9% during the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company's stock worth $30,000 after purchasing an additional 60 shares during the period. Tower Research Capital LLC TRC bought a new position in shares of Flutter Entertainment during the 4th quarter worth about $33,000. Finally, TD Waterhouse Canada Inc. bought a new position in shares of Flutter Entertainment during the 4th quarter worth about $36,000.

Insider Transactions at Flutter Entertainment

In other Flutter Entertainment news, insider James Philip Bishop sold 1,904 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $281.64, for a total value of $536,242.56. Following the transaction, the insider directly owned 4,712 shares in the company, valued at $1,327,087.68. The trade was a 28.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Mark Taylor sold 15,283 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $284.80, for a total transaction of $4,352,598.40. Following the completion of the transaction, the insider owned 16,589 shares in the company, valued at approximately $4,724,547.20. This trade represents a 47.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,851 shares of company stock valued at $7,361,377. 0.09% of the stock is owned by company insiders.

Analysts Set New Price Targets

FLUT has been the topic of several research reports. Zacks Research upgraded shares of Flutter Entertainment from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Macquarie boosted their price objective on shares of Flutter Entertainment from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Barclays boosted their price objective on shares of Flutter Entertainment from $350.00 to $352.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Jefferies Financial Group initiated coverage on shares of Flutter Entertainment in a report on Tuesday, July 8th. They set a "buy" rating and a $380.00 price objective on the stock. Finally, Stifel Nicolaus lifted their target price on shares of Flutter Entertainment from $353.00 to $356.00 and gave the company a "buy" rating in a research report 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 stock. According to MarketBeat.com, Flutter Entertainment presently has a consensus rating of "Moderate Buy" and an average target price of $332.70.

Flutter Entertainment Price Performance

NYSE:FLUT traded down $0.87 on Friday, reaching $307.73. The stock had a trading volume of 1,282,229 shares, compared to its average volume of 1,970,213. The company has a market capitalization of $54.19 billion, a P/E ratio of 151.59, a price-to-earnings-growth ratio of 1.49 and a beta of 2.31. Flutter Entertainment PLC has a 1-year low of $196.88 and a 1-year high of $313.68. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock has a fifty day moving average price of $293.72 and a 200-day moving average price of $263.25.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.87. The firm had revenue of $4.19 billion for the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The firm'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. Research analysts forecast that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment declared that its Board of Directors has initiated a share buyback program on Friday, August 8th that authorizes the company to buyback $245.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 0.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its shares are undervalued.

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.