Duquesne Family Office LLC Purchases 359,375 Shares of 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 increased its stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 1,985.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 377,475 shares of the company's stock after acquiring an additional 359,375 shares during the quarter. Flutter Entertainment accounts for approximately 2.7% of Duquesne Family Office LLC's portfolio, making the stock its 11th largest position. Duquesne Family Office LLC owned approximately 0.21% of Flutter Entertainment worth $83,566,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its stake in shares of Flutter Entertainment by 5.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,230,587 shares of the company's stock valued at $715,737,000 after acquiring an additional 167,621 shares in the last quarter. Egerton Capital UK LLP increased its stake in shares of Flutter Entertainment by 16.9% in the 1st quarter. Egerton Capital UK LLP now owns 2,193,794 shares of the company's stock valued at $486,035,000 after acquiring an additional 316,411 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Flutter Entertainment by 196.5% in the 1st quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company's stock valued at $441,916,000 after acquiring an additional 1,322,016 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Flutter Entertainment by 52.2% in the 1st quarter. Deutsche Bank AG now owns 1,849,769 shares of the company's stock valued at $409,816,000 after acquiring an additional 634,497 shares in the last quarter. Finally, Amundi increased its stake in shares of Flutter Entertainment by 77.3% in the 1st quarter. Amundi now owns 1,421,434 shares of the company's stock valued at $309,332,000 after acquiring an additional 619,625 shares in the last quarter.

Insiders Place Their Bets

In other news, CEO Amy Howe sold 4,097 shares of Flutter Entertainment stock in a transaction 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. The trade was a 5.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeremy Peter Jackson sold 2,112 shares of Flutter Entertainment stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total value of $617,591.04. Following the sale, the chief executive officer owned 31,944 shares in the company, valued at $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. Over the last 90 days, insiders have sold 23,396 shares of company stock valued at $6,759,745. 0.09% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. 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 report on Friday, August 8th. Kepler Capital Markets raised shares of Flutter Entertainment to a "strong-buy" rating in a research report on Thursday, August 28th. Sanford C. Bernstein reissued a "market perform" rating on shares of Flutter Entertainment 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. Finally, Citigroup reissued a "buy" rating on shares of Flutter Entertainment in a research report on Thursday, August 14th. One research 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's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $332.70.

Flutter Entertainment Stock Down 2.5%

FLUT traded down $7.52 during mid-day trading on Monday, reaching $287.76. 2,459,607 shares of the stock were exchanged, compared to its average volume of 2,275,181. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $50.67 billion, a PE ratio of 141.75 and a beta of 2.29. The company has a 50 day moving average price of $296.23 and a two-hundred day moving average price of $263.24. Flutter Entertainment PLC has a 1 year low of $196.88 and a 1 year high of $313.68.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.87. The company had revenue of $4.19 billion for the quarter, compared to analysts' expectations of $3.06 billion. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The firm's 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, research analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment announced that its Board of Directors has initiated a share buyback plan on Friday, August 8th that permits the company to repurchase $245.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

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.