Kids Capital Management L.P. Invests $1.66 Million in Flutter Entertainment PLC $FLUT

Key Points

• Kids Capital Management L.P. has taken a new position in Flutter Entertainment PLC (NYSE:FLUT), acquiring 7,500 shares valued at approximately $1.66 million, making Flutter about 1.8% of its total holdings.
• In recent trading sessions, shares of Flutter Entertainment have seen a slight decline of 1.4%, currently priced around $289.52, with a market capitalization of $50.98 billion.
• Flutter's board has approved a stock repurchase plan worth $245 million, suggesting that the board believes the stock is undervalued, amid a backdrop of strong quarterly earnings exceeding analyst expectations.

Kids Capital Management L.P. bought a new position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,500 shares of the company's stock, valued at approximately $1,662,000. Flutter Entertainment accounts for approximately 1.8% of Kids Capital Management L.P.'s portfolio, making the stock its 11th largest holding.

A number of other hedge funds have also recently bought and sold shares of FLUT. American Century Companies Inc. increased its stake in Flutter Entertainment by 122.1% in the 1st quarter. American Century Companies Inc. now owns 2,601 shares of the company's stock worth $576,000 after purchasing an additional 1,430 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Flutter Entertainment in the 1st quarter worth about $895,000. Boston Partners purchased a new position in Flutter Entertainment in the 1st quarter worth about $966,000. Tokio Marine Asset Management Co. Ltd. increased its stake in Flutter Entertainment by 3.0% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,089 shares of the company's stock worth $1,349,000 after purchasing an additional 177 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in Flutter Entertainment by 26,242.9% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,688 shares of the company's stock worth $817,000 after purchasing an additional 3,674 shares in the last quarter.

Flutter Entertainment Price Performance

NYSE:FLUT traded down $2.4390 during trading hours on Tuesday, reaching $291.5610. The company had a trading volume of 1,921,206 shares, compared to its average volume of 2,331,333. The stock has a 50-day moving average of $288.17 and a two-hundred day moving average of $261.18. Flutter Entertainment PLC has a one year low of $196.88 and a one year high of $313.68. The firm has a market capitalization of $51.34 billion, a PE ratio of 143.63, a PEG ratio of 1.22 and a beta of 2.31. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $3.06 billion. Flutter Entertainment's revenue for the quarter was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. Analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment declared that its Board of Directors has initiated a share buyback program on Friday, August 8th that authorizes the company to buyback $245.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 0.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Carolan Lennon sold 430 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total value of $105,655.30. Following the transaction, the director owned 769 shares in the company, valued at $188,950.99. This trade represents a 35.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nancy Cruickshank sold 281 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total value of $69,044.51. Following the completion of the transaction, the director owned 1,797 shares in the company, valued at approximately $441,540.87. This represents a 13.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,642 shares of company stock valued at $5,490,473 over the last 90 days. Corporate insiders own 0.09% of the company's stock.

Analyst Ratings Changes

FLUT has been the subject of a number of research reports. BTIG Research decreased their price objective on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. UBS Group restated a "buy" rating and set a $360.00 price objective (up from $340.00) on shares of Flutter Entertainment in a research report on Friday, August 8th. Peel Hunt lowered Flutter Entertainment from an "add" rating to a "hold" rating in a research report on Friday, August 8th. Stifel Nicolaus raised their price objective on Flutter Entertainment from $353.00 to $356.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, Sanford C. Bernstein restated a "market perform" rating on shares of Flutter Entertainment in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $328.62.

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.