Lansdowne Partners UK LLP Purchases 1,608 Shares of Flutter Entertainment PLC $FLUT

Key Points

• Lansdowne Partners UK LLP increased its stake in Flutter Entertainment PLC by 47.3%, owning a total of 5,009 shares valued at approximately $1,110,000.
• Flutter Entertainment reported a quarterly earnings per share of $2.95, surpassing analysts' estimates by $0.87, with revenue reaching $4.19 billion for the quarter.
• The company announced a $245 million share buyback plan, indicating management's belief that its stock is currently undervalued.

Lansdowne Partners UK LLP raised its position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 47.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,009 shares of the company's stock after purchasing an additional 1,608 shares during the quarter. Flutter Entertainment accounts for 0.2% of Lansdowne Partners UK LLP's investment portfolio, making the stock its 16th biggest holding. Lansdowne Partners UK LLP's holdings in Flutter Entertainment were worth $1,110,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp raised its stake in Flutter Entertainment by 791.2% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 11,184 shares of the company's stock valued at $2,478,000 after purchasing an additional 9,929 shares during the period. BNP Paribas Financial Markets raised its stake in Flutter Entertainment by 196.5% during the 1st quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company's stock valued at $441,916,000 after purchasing an additional 1,322,016 shares during the period. Ieq Capital LLC acquired a new stake in Flutter Entertainment during the 1st quarter valued at $3,579,000. Gabelli Funds LLC raised its stake in Flutter Entertainment by 13.4% during the 1st quarter. Gabelli Funds LLC now owns 1,100 shares of the company's stock valued at $244,000 after purchasing an additional 130 shares during the period. Finally, Freedom Investment Management Inc. acquired a new stake in Flutter Entertainment during the 1st quarter valued at $517,000.

Flutter Entertainment Stock Down 0.3%

NYSE:FLUT traded down $0.87 during trading hours on Friday, reaching $307.73. The company's stock had a trading volume of 1,282,229 shares, compared to its average volume of 1,970,213. The company has a market cap of $54.19 billion, a price-to-earnings ratio of 151.59, a price-to-earnings-growth ratio of 1.49 and a beta of 2.31. Flutter Entertainment PLC has a one year low of $196.88 and a one year high of $313.68. The business's 50-day moving average is $293.72 and its 200-day moving average is $263.25. 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 issued its quarterly earnings data on Thursday, August 7th. The company reported $2.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.87. The firm had revenue of $4.19 billion during the quarter, compared to analysts' expectations 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. Equities research analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment announced that its Board of Directors has initiated a share buyback program on Friday, August 8th that allows the company to repurchase $245.00 million in shares. This repurchase authorization allows the company to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.

Insider Transactions at Flutter Entertainment

In related news, CEO Amy Howe sold 4,097 shares of the company's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $305.91, for a total value of $1,253,313.27. Following the completion of the sale, the chief executive officer directly owned 69,850 shares in the company, valued at approximately $21,367,813.50. This represents a 5.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Christine M. Mccarthy sold 264 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $244.12, for a total transaction of $64,447.68. Following the completion of the sale, the director owned 559 shares of the company's stock, valued at $136,463.08. This represents a 32.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,851 shares of company stock valued at $7,361,377 in the last three months. 0.09% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Truist Financial boosted their target price on shares of Flutter Entertainment from $280.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Barclays upped their price target on shares of Flutter Entertainment from $350.00 to $352.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Oppenheimer upped their price target on shares of Flutter Entertainment from $310.00 to $350.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Benchmark reaffirmed a "buy" rating and issued a $365.00 price target (up from $300.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Finally, Hsbc Global Res raised shares of Flutter Entertainment to a "hold" rating in a research note on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.