Life Cycle Investment Partners Ltd Purchases New Holdings in Flutter Entertainment PLC $FLUT

Key Points

• Life Cycle Investment Partners bought a new stake in Flutter Entertainment during the fourth quarter, acquiring 116,127 shares valued at about $25 million and representing roughly 0.07% of the company.
• Flutter’s latest earnings beat expectations, with Q1 EPS of $1.22 versus the $1.09 consensus and revenue of $4.30 billion, up 17.4% year over year. The company also maintained positive return on equity despite a negative net margin.
• The board approved a $250 million share buyback plan, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $189.26.

Life Cycle Investment Partners Ltd purchased a new stake in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 116,127 shares of the company's stock, valued at approximately $24,972,000. Life Cycle Investment Partners Ltd owned about 0.07% of Flutter Entertainment at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Durable Capital Partners LP grew its stake in Flutter Entertainment by 274.2% in the 3rd quarter. Durable Capital Partners LP now owns 1,243,988 shares of the company's stock worth $315,973,000 after acquiring an additional 911,507 shares in the last quarter. Marshall Wace LLP grew its stake in Flutter Entertainment by 112.8% in the 3rd quarter. Marshall Wace LLP now owns 1,354,073 shares of the company's stock worth $343,935,000 after acquiring an additional 717,658 shares in the last quarter. Federated Hermes Inc. bought a new position in Flutter Entertainment in the 3rd quarter worth about $169,777,000. Squarepoint Ops LLC bought a new position in Flutter Entertainment in the 3rd quarter worth about $160,020,000. Finally, SG Americas Securities LLC grew its stake in Flutter Entertainment by 2,583.5% in the 4th quarter. SG Americas Securities LLC now owns 579,633 shares of the company's stock worth $124,644,000 after acquiring an additional 558,033 shares in the last quarter.

Insider Activity

In other news, CFO Robert Coldrake sold 4,613 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $106.45, for a total transaction of $491,053.85. Following the transaction, the chief financial officer directly owned 10,006 shares in the company, valued at approximately $1,065,138.70. This trade represents a 31.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel Mark Taylor acquired 1,611 shares of the company's stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average price of $94.29 per share, for a total transaction of $151,901.19. Following the completion of the purchase, the chief executive officer owned 34,584 shares of the company's stock, valued at approximately $3,260,925.36. This represents a 4.89% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 10,453 shares of company stock valued at $1,045,526 and sold 22,306 shares valued at $2,333,598. Company insiders own 0.13% of the company's stock.

Flutter Entertainment Price Performance

NYSE FLUT opened at $97.48 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. The firm's 50 day moving average price is $104.05 and its 200-day moving average price is $155.24. Flutter Entertainment PLC has a 52-week low of $91.52 and a 52-week high of $313.68. The company has a market cap of $16.96 billion, a PE ratio of -45.55, a P/E/G ratio of 1.29 and a beta of 1.58.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.13. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The firm had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same period last year, the firm earned $1.59 earnings per share. The company's quarterly revenue was up 17.4% on a year-over-year basis. Sell-side analysts forecast that Flutter Entertainment PLC will post 4.88 EPS for the current fiscal year.

Flutter Entertainment announced that its board has approved a share buyback plan on Wednesday, March 11th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have commented on FLUT. BTIG Research dropped their target price on shares of Flutter Entertainment from $137.00 to $126.00 and set a "buy" rating on the stock in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $167.00 target price on shares of Flutter Entertainment in a research note on Friday, May 8th. Truist Financial dropped their target price on shares of Flutter Entertainment from $140.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, May 7th. Susquehanna dropped their target price on shares of Flutter Entertainment from $160.00 to $143.00 and set a "positive" rating on the stock in a research note on Tuesday, March 31st. Finally, Wells Fargo & Company dropped their target price on shares of Flutter Entertainment from $164.00 to $161.00 and set an "equal weight" rating on the stock in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $189.26.

About Flutter Entertainment

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company's primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter's brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.

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