Senator Investment Group LP Buys 41,686 Shares of Flutter Entertainment PLC $FLUT

Key Points

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Senator Investment Group LP grew its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 19.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 256,290 shares of the company's stock after acquiring an additional 41,686 shares during the period. Flutter Entertainment accounts for approximately 3.0% of Senator Investment Group LP's investment portfolio, making the stock its 11th biggest holding. Senator Investment Group LP owned approximately 0.15% of Flutter Entertainment worth $56,781,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Quantbot Technologies LP grew its stake in shares of Flutter Entertainment by 37.6% in the 1st quarter. Quantbot Technologies LP now owns 21,578 shares of the company's stock valued at $4,781,000 after buying an additional 5,894 shares during the period. Northern Trust Corp grew its stake in shares of Flutter Entertainment by 1.5% in the 1st quarter. Northern Trust Corp now owns 617,311 shares of the company's stock valued at $136,765,000 after buying an additional 8,854 shares during the period. Corient IA LLC acquired a new stake in shares of Flutter Entertainment in the 1st quarter valued at about $693,000. Cambiar Investors LLC acquired a new stake in shares of Flutter Entertainment in the 1st quarter valued at about $11,078,000. Finally, Kids Capital Management L.P. acquired a new stake in shares of Flutter Entertainment in the 1st quarter valued at about $1,662,000.

Insider Activity at Flutter Entertainment

In other news, insider James Philip Bishop sold 1,904 shares of Flutter Entertainment stock in a transaction on Monday, August 11th. The shares were sold at an average price of $281.64, for a total transaction of $536,242.56. Following the completion of the sale, the insider directly owned 4,712 shares of the company's stock, valued at approximately $1,327,087.68. The trade was a 28.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alfred F. Hurley, Jr. sold 265 shares of Flutter Entertainment stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $243.94, for a total transaction of $64,644.10. Following the sale, the director directly owned 3,518 shares of the company's stock, valued at $858,180.92. This represents a 7.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,754 shares of company stock worth $6,108,064 over the last 90 days. Corporate insiders own 0.09% of the company's stock.

Flutter Entertainment Stock Performance

Shares of FLUT stock traded up $4.3870 during trading hours on Friday, hitting $299.3870. 748,703 shares of the company were exchanged, compared to its average volume of 2,136,639. The firm has a fifty day simple moving average of $290.29 and a 200 day simple moving average of $262.08. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95. Flutter Entertainment PLC has a 52-week low of $196.88 and a 52-week high of $313.68. The stock has a market capitalization of $52.72 billion, a price-to-earnings ratio of 147.48, a P/E/G ratio of 1.43 and a beta of 2.31.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.87. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company had revenue of $4.19 billion during the quarter, compared to analyst estimates of $3.06 billion. The company's revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. Research 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 initiated a share repurchase program on Friday, August 8th that authorizes the company to buyback $245.00 million in shares. This buyback authorization authorizes the company to purchase up to 0.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Peel Hunt cut shares of Flutter Entertainment from an "add" rating to a "hold" rating in a research report on Friday, August 8th. Bank of America raised their price target on shares of Flutter Entertainment from $295.00 to $330.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Stifel Nicolaus raised their price target 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. Jefferies Financial Group assumed coverage on shares of Flutter Entertainment in a research report on Tuesday, July 8th. They issued a "buy" rating and a $380.00 price target on the stock. Finally, JMP Securities raised their price target on shares of Flutter Entertainment from $323.00 to $345.00 and gave the company a "market outperform" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $332.70.

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.