Lancaster Investment Management Buys Shares of 367,377 Flutter Entertainment PLC $FLUT

Key Points

• Lancaster Investment Management has acquired 367,377 shares of Flutter Entertainment PLC, valued at approximately $104.98 million, making it the fund's largest position at 33.6% of its portfolio.
• Analysts have expressed positive outlooks on Flutter, with price targets raised by firms like Barclays and Bank of America, indicating strong potential growth and currently a consensus rating of "Moderate Buy."
• Flutter Entertainment is engaging in a $245 million stock buyback program, which often signifies that the company's board believes its shares are undervalued.

Lancaster Investment Management bought a new stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 367,377 shares of the company's stock, valued at approximately $104,982,000. Flutter Entertainment accounts for 33.6% of Lancaster Investment Management's investment portfolio, making the stock its biggest position. Lancaster Investment Management owned 0.21% of Flutter Entertainment as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FLUT. SVB Wealth LLC purchased a new stake in Flutter Entertainment in the first quarter valued at $27,000. ORG Partners LLC grew its stake in shares of Flutter Entertainment by 300.0% in the second quarter. ORG Partners LLC now owns 100 shares of the company's stock valued at $28,000 after buying an additional 75 shares in the last quarter. Barrett & Company Inc. acquired a new stake in shares of Flutter Entertainment in the second quarter valued at $29,000. Signaturefd LLC grew its stake in shares of Flutter Entertainment by 98.5% in the second quarter. Signaturefd LLC now owns 129 shares of the company's stock valued at $37,000 after buying an additional 64 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Flutter Entertainment by 90.6% in the first quarter. Farther Finance Advisors LLC now owns 183 shares of the company's stock valued at $41,000 after buying an additional 87 shares in the last quarter.

Insiders Place Their Bets

In other news, insider James Philip Bishop sold 1,904 shares of the company's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $281.64, for a total transaction of $536,242.56. Following the completion of the transaction, the insider directly owned 4,712 shares of the company's stock, valued at approximately $1,327,087.68. This represents a 28.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 value of $617,591.04. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,396 shares of company stock valued at $6,759,745. 0.09% of the stock is owned by insiders.

Flutter Entertainment Trading Up 0.1%

FLUT opened at $250.08 on Thursday. Flutter Entertainment PLC has a 12 month low of $196.88 and a 12 month high of $313.68. The stock has a market capitalization of $44.04 billion, a price-to-earnings ratio of 123.19 and a beta of 1.91. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. The business has a fifty day moving average price of $281.05 and a 200 day moving average price of $266.77.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $2.95 earnings per share (EPS) 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 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 quarterly revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. Sell-side analysts expect that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays lifted their price objective on Flutter Entertainment from $350.00 to $352.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Bank of America lifted their price objective on Flutter Entertainment from $295.00 to $330.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Needham & Company LLC lifted their price objective on Flutter Entertainment from $340.00 to $355.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Truist Financial lifted their price objective 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, Sanford C. Bernstein dropped their price objective on Flutter Entertainment from $340.00 to $330.00 and set a "market perform" rating for the company in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $336.26.

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.

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