Ardmore Road Asset Management LP Has $48.74 Million Holdings in Flutter Entertainment PLC $FLUT

Key Points

• Ardmore Road Asset Management LP increased its stake in Flutter Entertainment PLC by 16.0%, owning 220,000 shares valued at approximately $48.74 million, making it the asset management firm's 5th largest holding.
• Flutter Entertainment recently initiated a $245 million share repurchase program, indicating management's belief that the stock is undervalued.
• Recently, Flutter reported better-than-expected quarterly earnings, with $4.19 billion in revenue and an EPS of $2.95, surpassing analysts' estimates of $2.08.

Ardmore Road Asset Management LP boosted its stake in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 16.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 220,000 shares of the company's stock after buying an additional 30,406 shares during the quarter. Flutter Entertainment accounts for approximately 4.8% of Ardmore Road Asset Management LP's portfolio, making the stock its 5th largest holding. Ardmore Road Asset Management LP owned 0.12% of Flutter Entertainment worth $48,741,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. OLD Mission Capital LLC acquired a new position in Flutter Entertainment during the first quarter worth about $2,913,000. Vident Advisory LLC purchased a new stake in shares of Flutter Entertainment in the first quarter valued at about $561,000. Magnetar Financial LLC purchased a new stake in shares of Flutter Entertainment in the first quarter valued at about $5,943,000. Canada Pension Plan Investment Board lifted its holdings in shares of Flutter Entertainment by 98.0% in the first quarter. Canada Pension Plan Investment Board now owns 450,119 shares of the company's stock valued at $99,724,000 after purchasing an additional 222,830 shares in the last quarter. Finally, State of Wyoming lifted its holdings in shares of Flutter Entertainment by 24.1% in the first quarter. State of Wyoming now owns 665 shares of the company's stock valued at $147,000 after purchasing an additional 129 shares in the last quarter.

Insider Activity

In related news, CEO Amy Howe sold 4,097 shares of Flutter Entertainment stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $305.91, for a total transaction of $1,253,313.27. Following the sale, the chief executive officer owned 69,850 shares of the company's stock, valued at $21,367,813.50. The trade was a 5.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christine M. Mccarthy sold 264 shares of Flutter Entertainment stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $244.12, for a total transaction of $64,447.68. Following the sale, the director directly owned 559 shares in the company, valued at $136,463.08. This trade represents a 32.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,925 shares of company stock worth $6,888,837 over the last three months. 0.09% of the stock is currently owned by corporate insiders.

Flutter Entertainment Trading Down 1.3%

Shares of Flutter Entertainment stock traded down $3.84 during trading hours on Wednesday, hitting $295.16. The company's stock had a trading volume of 1,476,365 shares, compared to its average volume of 2,276,254. The business has a fifty day moving average of $294.93 and a 200 day moving average of $263.42. 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 company has a market capitalization of $51.98 billion, a PE ratio of 145.40, a P/E/G ratio of 1.49 and a beta of 2.29.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its 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. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $3.06 billion. The business's quarterly revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment declared that its board has approved a stock buyback plan on Friday, August 8th that allows the company to repurchase $245.00 million in shares. This repurchase authorization allows the company to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have issued reports on FLUT. Zacks Research raised shares of Flutter Entertainment from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Hsbc Global Res raised shares of Flutter Entertainment to a "hold" rating in a report on Wednesday, June 18th. Jefferies Financial Group began coverage on shares of Flutter Entertainment in a report on Tuesday, July 8th. They issued a "buy" rating and a $380.00 price target on the stock. Stifel Nicolaus upped their price target on shares of Flutter Entertainment from $353.00 to $356.00 and gave the company a "buy" rating in a report on Friday, August 8th. Finally, JMP Securities upped their price objective on shares of Flutter Entertainment from $323.00 to $345.00 and gave the company a "market outperform" rating in a research note on Friday, August 8th. One equities research 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 stock currently has a consensus rating of "Moderate Buy" and an average target price of $332.70.

Flutter Entertainment Company 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.