Fred Alger Management LLC bought a new position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,770 shares of the company's stock, valued at approximately $3,051,000.
Several other hedge funds have also recently bought and sold shares of the stock. CTC Alternative Strategies Ltd. bought a new position in Flutter Entertainment in the first quarter valued at approximately $820,000. Sender Co & Partners Inc. raised its holdings in shares of Flutter Entertainment by 186.2% during the first quarter. Sender Co & Partners Inc. now owns 6,082 shares of the company's stock worth $1,347,000 after acquiring an additional 3,957 shares during the period. Dynamic Technology Lab Private Ltd lifted its position in Flutter Entertainment by 92.2% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 7,420 shares of the company's stock valued at $1,644,000 after acquiring an additional 3,560 shares in the last quarter. Theleme Partners LLP bought a new stake in Flutter Entertainment in the 1st quarter valued at $82,312,000. Finally, Third Point LLC boosted its stake in Flutter Entertainment by 11.5% in the 1st quarter. Third Point LLC now owns 970,000 shares of the company's stock worth $214,904,000 after purchasing an additional 100,000 shares during the period.
Flutter Entertainment Stock Performance
FLUT opened at $292.06 on Wednesday. The business's 50-day simple moving average is $296.41 and its 200 day simple moving average is $263.55. Flutter Entertainment PLC has a 52-week low of $196.88 and a 52-week high of $313.68. 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 firm has a market capitalization of $51.43 billion, a PE ratio of 143.87 and a beta of 2.29.
Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $2.95 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.87. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.06 billion. The firm'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, sell-side analysts expect that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.
Flutter Entertainment declared that its Board of Directors has authorized a share repurchase program on Friday, August 8th that allows the company to buyback $245.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 0.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. Jefferies Financial Group started coverage on Flutter Entertainment in a research note on Tuesday, July 8th. They issued a "buy" rating and a $380.00 price target on the stock. Hsbc Global Res raised Flutter Entertainment to a "hold" rating in a research report on Wednesday, June 18th. Bank of America lifted their target price on Flutter Entertainment from $295.00 to $330.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Truist Financial boosted their target price on Flutter Entertainment from $280.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, Citigroup reaffirmed a "buy" rating on shares of Flutter Entertainment in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Flutter Entertainment has a consensus rating of "Moderate Buy" and an average target price of $332.70.
Read Our Latest Report on Flutter Entertainment
Insider Activity
In other news, CEO Jeremy Peter Jackson sold 2,112 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total value of $617,591.04. Following the sale, the chief executive officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Mark Taylor sold 15,283 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $284.80, for a total transaction of $4,352,598.40. Following the completion of the sale, the insider owned 16,589 shares of the company's stock, valued at $4,724,547.20. This trade represents a 47.95% decrease in their ownership of the stock. 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 in the last ninety days. Corporate insiders own 0.09% of the company's stock.
About Flutter Entertainment
(
Free Report)
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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Want to see what other hedge funds are holding FLUT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flutter Entertainment PLC (NYSE:FLUT - Free Report).
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