Flutter Entertainment PLC $FLUT Stock Holdings Lifted by Matthew 25 Management Corp

Key Points

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Matthew 25 Management Corp raised its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 70.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,500 shares of the company's stock after purchasing an additional 24,250 shares during the period. Flutter Entertainment accounts for 4.8% of Matthew 25 Management Corp's portfolio, making the stock its 10th largest position. Matthew 25 Management Corp's holdings in Flutter Entertainment were worth $12,961,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Parvus Asset Management Europe Ltd bought a new position in shares of Flutter Entertainment during the fourth quarter valued at approximately $2,146,227,000. Massachusetts Financial Services Co. MA increased its position in shares of Flutter Entertainment by 5.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,230,587 shares of the company's stock valued at $715,737,000 after acquiring an additional 167,621 shares in the last quarter. Egerton Capital UK LLP increased its position in shares of Flutter Entertainment by 16.9% during the first quarter. Egerton Capital UK LLP now owns 2,193,794 shares of the company's stock valued at $486,035,000 after acquiring an additional 316,411 shares in the last quarter. Lone Pine Capital LLC bought a new stake in shares of Flutter Entertainment during the fourth quarter valued at approximately $494,291,000. Finally, Deutsche Bank AG increased its position in shares of Flutter Entertainment by 52.2% during the first 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 in the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of Flutter Entertainment from $353.00 to $356.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Needham & Company LLC raised their price target on shares of Flutter Entertainment from $340.00 to $355.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Peel Hunt downgraded shares of Flutter Entertainment from an "add" rating to a "hold" rating in a research report on Friday, August 8th. Truist Financial lifted their target price on shares of Flutter Entertainment from $280.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, Sanford C. Bernstein reaffirmed 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 have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $332.70.

Insider Buying and Selling at Flutter Entertainment

In other news, Director Carolan Lennon sold 430 shares of Flutter Entertainment stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total transaction 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider James Philip Bishop sold 1,904 shares of Flutter Entertainment stock in a transaction on Monday, August 11th. The stock was sold at an average price of $281.64, for a total transaction of $536,242.56. Following the transaction, the insider owned 4,712 shares in the company, valued at $1,327,087.68. This represents a 28.78% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,754 shares of company stock worth $6,108,064. Insiders own 0.09% of the company's stock.

Flutter Entertainment Stock Performance

NYSE:FLUT traded up $4.3870 during trading hours on Friday, reaching $299.3870. The company had a trading volume of 748,703 shares, compared to its average volume of 2,136,639. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95. Flutter Entertainment PLC has a 52 week low of $196.88 and a 52 week high of $313.68. The firm has a market cap of $52.72 billion, a price-to-earnings ratio of 147.48, a PEG ratio of 1.43 and a beta of 2.31. The firm's 50 day moving average price is $290.29 and its 200-day moving average price is $262.08.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings results 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 business 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%. The business's quarterly revenue was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, analysts forecast that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment declared that its Board of Directors has authorized a stock buyback program on Friday, August 8th that allows the company to buyback $245.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 0.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

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.