26,823 Shares in Flutter Entertainment PLC $FLUT Bought by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC has acquired a new stake in Flutter Entertainment PLC, purchasing 26,823 shares for approximately $5.9 million.
• Analyst reports have shown increasing confidence in Flutter Entertainment, with several firms boosting their price targets and maintaining a consensus rating of "Moderate Buy".
• Flutter Entertainment's recent quarterly earnings exceeded analyst expectations, reporting $4.19 billion in revenue, up 16% year-over-year, alongside a share buyback plan of $245 million.

Magnetar Financial LLC purchased a new position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 26,823 shares of the company's stock, valued at approximately $5,943,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FLUT. BNP Paribas Financial Markets lifted its position in shares of 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 acquiring an additional 1,322,016 shares during the period. Nuveen LLC acquired a new position in shares of Flutter Entertainment during the 1st quarter valued at $289,627,000. Primecap Management Co. CA acquired a new position in shares of Flutter Entertainment during the 1st quarter valued at $210,940,000. Hsbc Holdings PLC lifted its position in shares of Flutter Entertainment by 376.4% during 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. Finally, Deutsche Bank AG lifted its position in shares of Flutter Entertainment by 52.2% during the 1st quarter. Deutsche Bank AG now owns 1,849,769 shares of the company's stock valued at $409,816,000 after acquiring an additional 634,497 shares during the period.

Insider Activity at Flutter Entertainment

In related news, CEO Amy Howe sold 4,097 shares of the company's stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total transaction of $617,591.04. Following the transaction, the chief executive officer owned 31,944 shares in the company, valued at $9,341,064.48. The trade was a 6.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,396 shares of company stock valued at $6,759,745 in the last ninety days. 0.09% of the stock is currently owned by company insiders.

Flutter Entertainment Price Performance

Shares of Flutter Entertainment stock traded down $2.60 on Thursday, reaching $291.84. The stock had a trading volume of 714,232 shares, compared to its average volume of 2,266,491. 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 business's 50 day moving average is $295.48 and its two-hundred day moving average is $263.64. The company has a market cap of $51.39 billion, a P/E ratio of 143.75, a price-to-earnings-growth ratio of 1.49 and a beta of 2.29. Flutter Entertainment PLC has a 1 year low of $196.88 and a 1 year high of $313.68.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $4.19 billion for 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 revenue for the quarter was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment declared that its Board of Directors has approved a share repurchase plan on Friday, August 8th that allows the company to buyback $245.00 million in outstanding shares. This buyback authorization allows the company to purchase 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.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FLUT. Benchmark reiterated a "buy" rating and set a $365.00 target price (up previously from $300.00) on shares of Flutter Entertainment in a research report on Friday, August 8th. Hsbc Global Res upgraded shares of Flutter Entertainment to a "hold" rating in a research note on Wednesday, June 18th. Zacks Research upgraded shares of Flutter Entertainment from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. UBS Group reiterated a "buy" rating and issued a $360.00 target price (up previously from $340.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Finally, Barclays upped their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Flutter Entertainment currently has an average rating of "Moderate Buy" and an average target price of $332.70.

Flutter Entertainment 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.