Flutter Entertainment PLC $FLUT Shares Sold by Shellback Capital LP

Key Points

• Shellback Capital LP has reduced its holdings in Flutter Entertainment by 12.5%, now owning 35,000 shares valued at approximately $7.75 million after selling 5,000 shares in the first quarter.
• During the same quarter, Samlyn Capital LLC significantly increased its stake in Flutter Entertainment by 98.5%, acquiring an additional 262,588 shares, bringing its total to 529,102 shares worth over $117 million.
• Flutter Entertainment recently reported a robust EPS of $2.95 for the quarter, beating expectations and showing 16.0% year-over-year revenue growth, prompting several analysts to raise their price targets on the stock.

Shellback Capital LP reduced its holdings in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 12.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,000 shares of the company's stock after selling 5,000 shares during the period. Shellback Capital LP's holdings in Flutter Entertainment were worth $7,754,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FLUT. Samlyn Capital LLC raised its stake in shares of Flutter Entertainment by 98.5% during the 1st quarter. Samlyn Capital LLC now owns 529,102 shares of the company's stock valued at $117,223,000 after buying an additional 262,588 shares during the last quarter. Palestra Capital Management LLC grew its stake in shares of Flutter Entertainment by 8.1% during the 1st quarter. Palestra Capital Management LLC now owns 724,691 shares of the company's stock worth $160,555,000 after purchasing an additional 53,996 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Flutter Entertainment by 5.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company's stock valued at $290,000 after purchasing an additional 69 shares in the last quarter. KADENSA CAPITAL Ltd acquired a new position in shares of Flutter Entertainment in the 1st quarter valued at $17,170,000. Finally, HMI Capital Management L.P. boosted its holdings in Flutter Entertainment by 21.8% during the first quarter. HMI Capital Management L.P. now owns 1,015,209 shares of the company's stock worth $224,920,000 after buying an additional 181,400 shares in the last quarter.

Insider Buying and Selling

In related news, insider Daniel Mark Taylor sold 15,283 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $284.80, for a total value of $4,352,598.40. Following the completion of the sale, the insider owned 16,589 shares of the company's stock, valued at approximately $4,724,547.20. This represents a 47.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total transaction of $617,591.04. Following the sale, the chief executive officer owned 31,944 shares of the company's stock, valued at approximately $9,341,064.48. The trade was a 6.20% 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 valued at $6,759,745 in the last quarter. Corporate insiders own 0.09% of the company's stock.

Flutter Entertainment Price Performance

Shares of NYSE FLUT opened at $295.19 on Friday. The stock has a market capitalization of $51.98 billion, a price-to-earnings ratio of 145.41, a price-to-earnings-growth ratio of 1.43 and a beta of 2.29. Flutter Entertainment PLC has a 52 week low of $196.88 and a 52 week high of $313.68. The firm has a 50-day simple moving average of $296.23 and a 200-day simple moving average of $263.41. 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 released its quarterly earnings data on Thursday, August 7th. The company reported $2.95 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.87. The company had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company's revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, equities analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Flutter Entertainment announced that its board has authorized a stock repurchase plan on Friday, August 8th that permits the company to repurchase $245.00 million in shares. This repurchase authorization permits the company to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Benchmark reissued a "buy" rating and set a $365.00 target price (up from $300.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Oppenheimer raised their price objective on Flutter Entertainment from $310.00 to $350.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Kepler Capital Markets upgraded Flutter Entertainment to a "strong-buy" rating in a research report on Thursday, August 28th. Macquarie lifted their price target on shares of Flutter Entertainment from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Peel Hunt cut shares of Flutter Entertainment from an "add" rating to a "hold" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Flutter Entertainment has an average rating of "Moderate Buy" and a consensus target price of $332.70.

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.

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