Ieq Capital LLC Acquires New Stake in Flutter Entertainment PLC $FLUT

Key Points

• Ieq Capital LLC has made a new investment of approximately $3.58 million in Flutter Entertainment PLC, acquiring 16,155 shares during the first quarter.
• Several large investors have also increased their stakes, with Deutsche Bank AG notably raising its holdings by 52.2% in the same quarter.
• Flutter Entertainment reported strong earnings with $4.19 billion in revenue for the quarter, exceeding expectations and reflecting a 16% year-over-year growth.

Ieq Capital LLC bought a new stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,155 shares of the company's stock, valued at approximately $3,579,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Gabelli Funds LLC increased its stake in Flutter Entertainment by 13.4% in the first quarter. Gabelli Funds LLC now owns 1,100 shares of the company's stock valued at $244,000 after purchasing an additional 130 shares in the last quarter. Freedom Investment Management Inc. bought a new stake in Flutter Entertainment in the first quarter valued at $517,000. ICONIQ Capital LLC increased its stake in Flutter Entertainment by 31.6% in the first quarter. ICONIQ Capital LLC now owns 1,167 shares of the company's stock valued at $259,000 after purchasing an additional 280 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Flutter Entertainment during the first quarter valued at approximately $12,764,000. Finally, SVB Wealth LLC bought a new stake in shares of Flutter Entertainment during the first quarter valued at approximately $27,000.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, insider Daniel Mark Taylor sold 15,283 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $284.80, for a total value of $4,352,598.40. Following the sale, the insider owned 16,589 shares in the company, valued at approximately $4,724,547.20. This represents a 47.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total transaction of $617,591.04. Following the completion of the sale, the chief executive officer owned 31,944 shares in the company, valued at approximately $9,341,064.48. This trade represents a 6.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,396 shares of company stock worth $6,759,745 in the last 90 days. 0.09% of the stock is owned by company insiders.

Flutter Entertainment Stock Performance

Shares of Flutter Entertainment stock traded up $3.40 on Friday, reaching $295.78. 501,097 shares of the company traded hands, compared to its average volume of 2,265,350. Flutter Entertainment PLC has a 52 week low of $196.88 and a 52 week high of $313.68. The company has a 50 day moving average of $295.91 and a 200 day moving average of $263.60. The firm has a market capitalization of $52.09 billion, a PE ratio of 145.64, a PEG ratio of 1.43 and a beta of 2.29. 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 released its quarterly earnings data on Thursday, August 7th. The company reported $2.95 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 the consensus estimate of $3.06 billion. The firm's revenue for the quarter was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. Equities analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment declared that its board has authorized a share buyback plan on Friday, August 8th that authorizes the company to buyback $245.00 million in shares. This buyback authorization authorizes the company to reacquire up to 0.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently commented on FLUT. Hsbc Global Res upgraded Flutter Entertainment to a "hold" rating in a report on Wednesday, June 18th. Benchmark restated a "buy" rating and set a $365.00 price objective (up previously from $300.00) on shares of Flutter Entertainment in a report on Friday, August 8th. UBS Group restated a "buy" rating and set a $360.00 price objective (up previously from $340.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Canaccord Genuity Group boosted their target price on shares of Flutter Entertainment from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, Needham & Company LLC boosted their target price on shares of Flutter Entertainment from $340.00 to $355.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $332.70.

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.