KADENSA CAPITAL Ltd Takes $17.17 Million Position in Flutter Entertainment PLC $FLUT

Key Points

• KADENSA CAPITAL Ltd has invested approximately $17.17 million in Flutter Entertainment PLC by acquiring 77,499 shares, making it the 17th largest position in their portfolio.
• Flutter Entertainment reported impressive quarterly earnings of $2.95 per share, exceeding analyst estimates and achieving a revenue of $4.19 billion, which was up 16% year-over-year.
• The company has initiated a share buyback program allowing for the repurchase of $245 million in outstanding shares, indicating confidence in the stock’s value.

KADENSA CAPITAL Ltd purchased a new position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 77,499 shares of the company's stock, valued at approximately $17,170,000. Flutter Entertainment comprises 2.1% of KADENSA CAPITAL Ltd's investment portfolio, making the stock its 17th largest holding.

Other large investors also recently modified their holdings of the company. BNP Paribas Financial Markets raised its stake in 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 during the period. Nuveen LLC bought a new stake in Flutter Entertainment in the 1st quarter valued at about $289,627,000. Primecap Management Co. CA bought a new stake in Flutter Entertainment in the 1st quarter valued at about $210,940,000. Alliancebernstein L.P. raised its stake in Flutter Entertainment by 2,312.7% in the 1st quarter. Alliancebernstein L.P. now owns 844,855 shares of the company's stock valued at $187,178,000 after acquiring an additional 809,838 shares during the period. Finally, Hsbc Holdings PLC raised its stake in Flutter Entertainment by 376.4% in the 1st quarter. Hsbc Holdings PLC now owns 855,552 shares of the company's stock valued at $187,304,000 after acquiring an additional 675,949 shares during the period.

Insiders Place Their Bets

In related news, CEO Amy Howe sold 4,097 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer owned 69,850 shares in the company, valued at $21,367,813.50. The trade was a 5.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel Mark Taylor sold 15,283 shares of the business'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 transaction, the insider owned 16,589 shares in the company, valued at $4,724,547.20. This represents a 47.95% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,396 shares of company stock worth $6,759,745. Insiders own 0.09% of the company's stock.

Flutter Entertainment Price Performance

Shares of NYSE FLUT traded down $0.03 during midday trading on Wednesday, hitting $291.91. 392,273 shares of the company's stock were exchanged, compared to its average volume of 2,261,010. Flutter Entertainment PLC has a 12-month low of $196.88 and a 12-month high of $313.68. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95. The company has a market cap of $51.41 billion, a price-to-earnings ratio of 143.87 and a beta of 2.29. The business's fifty day moving average price is $296.41 and its two-hundred day moving average price is $263.55.

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, topping the consensus estimate of $2.08 by $0.87. The business had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. 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, research analysts forecast that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has authorized a stock repurchase plan on Friday, August 8th that authorizes the company to buyback $245.00 million in shares. This buyback authorization authorizes the company to repurchase up to 0.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FLUT. Peel Hunt cut Flutter Entertainment from an "add" rating to a "hold" rating in a research note on Friday, August 8th. Needham & Company LLC lifted their target price on Flutter Entertainment from $340.00 to $355.00 and gave the company a "buy" rating in a report on Friday, August 8th. Benchmark reaffirmed a "buy" rating and set a $365.00 target price (up previously from $300.00) on shares of Flutter Entertainment in a report on Friday, August 8th. JMP Securities lifted their target price on Flutter Entertainment from $323.00 to $345.00 and gave the company a "market outperform" rating in a report on Friday, August 8th. Finally, Truist Financial raised their price target on shares of Flutter Entertainment from $280.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Flutter Entertainment has an average rating of "Moderate Buy" and a consensus price target 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.