Maverick Capital Ltd. decreased its stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 228,756 shares of the company's stock after selling 10,845 shares during the quarter. Maverick Capital Ltd. owned approximately 0.13% of Flutter Entertainment worth $50,681,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the stock. L1 Capital Pty Ltd grew its position in shares of Flutter Entertainment by 61.0% in the first quarter. L1 Capital Pty Ltd now owns 494,603 shares of the company's stock valued at $109,579,000 after purchasing an additional 187,471 shares during the period. Alpine Global Management LLC acquired a new stake in shares of Flutter Entertainment in the first quarter valued at about $2,199,000. Twin Tree Management LP acquired a new stake in shares of Flutter Entertainment in the first quarter valued at about $3,452,000. Ardmore Road Asset Management LP grew its position in shares of Flutter Entertainment by 16.0% in the first quarter. Ardmore Road Asset Management LP now owns 220,000 shares of the company's stock valued at $48,741,000 after purchasing an additional 30,406 shares during the period. Finally, OLD Mission Capital LLC acquired a new stake in shares of Flutter Entertainment in the first quarter valued at about $2,913,000.
Wall Street Analysts Forecast Growth
FLUT has been the topic of a number of recent research reports. Hsbc Global Res upgraded shares of Flutter Entertainment to a "hold" rating in a research report on Wednesday, June 18th. Peel Hunt lowered shares of Flutter Entertainment from an "add" rating to a "hold" rating in a research report on Friday, August 8th. Truist Financial boosted their price target 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. Citigroup restated a "buy" rating on shares of Flutter Entertainment in a research report on Thursday, August 14th. Finally, Benchmark restated a "buy" rating and set a $365.00 price target (up from $300.00) on shares of Flutter Entertainment in a research report on Friday, August 8th. One research 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 stock presently has an average rating of "Moderate Buy" and an average target price of $332.70.
Check Out Our Latest Report on Flutter Entertainment
Insider Activity at Flutter Entertainment
In other news, insider Daniel Mark Taylor sold 15,283 shares of the business's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $284.80, for a total value of $4,352,598.40. Following the sale, the insider directly owned 16,589 shares of the company's stock, valued at approximately $4,724,547.20. The trade was a 47.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amy Howe sold 4,097 shares of the business'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 transaction 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 $21,367,813.50. This trade represents a 5.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,396 shares of company stock valued at $6,759,745 over the last 90 days. Insiders own 0.09% of the company's stock.
Flutter Entertainment Trading Up 1.0%
NYSE:FLUT traded up $2.81 on Friday, hitting $295.19. The stock had a trading volume of 1,926,671 shares, compared to its average volume of 1,792,129. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock has a market cap of $51.98 billion, a price-to-earnings ratio of 145.41, a PEG ratio of 1.42 and a beta of 2.29. The company has a fifty day moving average price of $296.23 and a two-hundred day moving average price of $263.61. 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 earnings results on Thursday, August 7th. The company reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.87. The company had revenue of $4.19 billion for the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The firm's 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 expect that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.
Flutter Entertainment announced that its board has initiated a share repurchase plan on Friday, August 8th that authorizes the company to repurchase $245.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.
Flutter Entertainment Company Profile
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Free Report)
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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