Point72 Europe London LLP Sells 12,024 Shares of Flutter Entertainment PLC $FLUT

Key Points

• Point72 Europe London LLP reduced its stake in Flutter Entertainment PLC by 15.9%, now holding 63,637 shares valued at approximately $14 million.
• Flutter Entertainment reported a quarterly EPS of $2.95, exceeding analysts' expectations, with a revenue of $4.19 billion, marking a 16% increase year-over-year.
• The company's Board of Directors has approved a $245 million share buyback plan, indicating confidence in the stock's valuation.

Point72 Europe London LLP reduced its position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 15.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,637 shares of the company's stock after selling 12,024 shares during the period. Point72 Europe London LLP's holdings in Flutter Entertainment were worth $14,099,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Alpine Global Management LLC purchased a new stake in Flutter Entertainment in the first quarter worth about $2,199,000. Twin Tree Management LP purchased a new stake in Flutter Entertainment in the first quarter worth about $3,452,000. Ardmore Road Asset Management LP lifted its holdings in Flutter Entertainment by 16.0% in the first quarter. Ardmore Road Asset Management LP now owns 220,000 shares of the company's stock worth $48,741,000 after buying an additional 30,406 shares during the period. OLD Mission Capital LLC purchased a new stake in Flutter Entertainment in the first quarter worth about $2,913,000. Finally, Vident Advisory LLC purchased a new stake in Flutter Entertainment in the first quarter worth about $561,000.

Wall Street Analysts Forecast Growth

FLUT has been the subject of several research analyst reports. Macquarie raised 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. Peel Hunt downgraded shares of Flutter Entertainment from an "add" rating to a "hold" rating in a research report on Friday, August 8th. Zacks Research raised shares of Flutter Entertainment from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Stifel Nicolaus lifted their target price on shares of Flutter Entertainment from $353.00 to $356.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, Bank of America lifted their price target on shares of Flutter Entertainment from $295.00 to $330.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of "Moderate Buy" and an average target price of $332.70.

Insider Activity at Flutter Entertainment

In other news, CEO Jeremy Peter Jackson sold 2,112 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total value of $617,591.04. Following the sale, the chief executive officer directly owned 31,944 shares in the company, valued at $9,341,064.48. The trade was a 6.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Amy Howe sold 4,097 shares of the business's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $305.91, for a total transaction of $1,253,313.27. Following the completion of the sale, the chief executive officer owned 69,850 shares in the company, valued at approximately $21,367,813.50. This trade represents a 5.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,396 shares of company stock worth $6,759,745 in the last quarter. 0.09% of the stock is owned by company insiders.

Flutter Entertainment Price Performance

FLUT stock traded down $1.44 during mid-day trading on Thursday, hitting $292.99. The company had a trading volume of 2,259,776 shares, compared to its average volume of 2,276,114. The company has a market capitalization of $51.60 billion, a price-to-earnings ratio of 144.33, a P/E/G ratio of 1.49 and a beta of 2.29. Flutter Entertainment PLC has a 12-month low of $196.88 and a 12-month 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 company has a 50-day moving average price of $295.48 and a 200 day moving average price of $263.64.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, topping the consensus estimate of $2.08 by $0.87. The business had revenue of $4.19 billion for the quarter, compared to analysts' expectations of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The business's revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment declared that its Board of Directors has approved a stock repurchase plan 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 plans are generally a sign that the company's management believes its stock is 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.