Duquesne Family Office LLC Boosts Holdings in Flutter Entertainment PLC $FLUT

Key Points

• Duquesne Family Office LLC significantly increased its stake in Flutter Entertainment PLC by 1,985.5% in Q1, owning 377,475 shares worth approximately $83.57 million by the end of the quarter.
• Flutter Entertainment's stock price has fluctuated between a one-year low of $196.88 and a high of $313.68, closing at $295.16, down 1.3%.
• The company reported a quarterly earnings beat with $2.95 EPS against forecasts of $2.08, and revenue of $4.19 billion, exceeding analyst predictions of $3.06 billion.

Duquesne Family Office LLC raised its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 1,985.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 377,475 shares of the company's stock after acquiring an additional 359,375 shares during the period. Flutter Entertainment makes up 2.7% of Duquesne Family Office LLC's holdings, making the stock its 11th largest position. Duquesne Family Office LLC owned 0.21% of Flutter Entertainment worth $83,566,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GPS Wealth Strategies Group LLC boosted its position in shares of Flutter Entertainment by 1,375.0% in 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 last quarter. SVB Wealth LLC bought a new position in Flutter Entertainment during the 1st quarter worth approximately $27,000. Tower Research Capital LLC TRC bought a new position in Flutter Entertainment during the 4th quarter worth approximately $33,000. Parallel Advisors LLC boosted its stake in 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 acquiring an additional 60 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Flutter Entertainment by 90.6% during the 1st quarter. Farther Finance Advisors LLC now owns 183 shares of the company's stock worth $41,000 after acquiring an additional 87 shares during the last quarter.

Wall Street Analyst Weigh In

FLUT has been the subject of a number of research analyst reports. Barclays upped their target price on shares of Flutter Entertainment from $350.00 to $352.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Flutter Entertainment in a report on Friday, August 8th. Bank of America increased their price objective 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. Kepler Capital Markets upgraded shares of Flutter Entertainment to a "strong-buy" rating in a research note on Thursday, August 28th. Finally, JMP Securities raised their price target on Flutter Entertainment from $323.00 to $345.00 and gave the stock a "market outperform" rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $332.70.

Flutter Entertainment Stock Up 1.5%

Shares of Flutter Entertainment stock traded up $4.20 during trading on Tuesday, reaching $292.24. 756,216 shares of the company traded hands, compared to its average volume of 2,266,101. The firm has a market capitalization of $51.46 billion, a PE ratio of 143.98 and a beta of 2.30. The company has a 50 day moving average price of $296.27 and a 200-day moving average price of $263.35. Flutter Entertainment PLC has a 1-year low of $196.88 and a 1-year high of $313.68. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $2.95 earnings per share (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 firm had revenue of $4.19 billion during the quarter, compared to analysts' expectations of $3.06 billion. Flutter Entertainment's quarterly revenue was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, equities research analysts expect 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 share repurchase plan on Friday, August 8th that permits the company to buyback $245.00 million in shares. This buyback authorization permits the company to purchase up to 0.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

Insider Activity

In related news, CEO Jeremy Peter Jackson sold 2,112 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were 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. This represents a 6.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Amy Howe sold 4,097 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 69,850 shares in the company, valued at $21,367,813.50. This trade represents a 5.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,396 shares of company stock valued at $6,759,745 over the last ninety days. 0.09% of the stock is owned by insiders.

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.