Mudita Advisors LLP Has $7.83 Million Stock Holdings in Flutter Entertainment PLC $FLUT

Key Points

• Mudita Advisors LLP increased its stake in Flutter Entertainment PLC by 89.3%, now holding $7.83 million worth of stock, making it the firm's 11th largest position.
• Flutter Entertainment received multiple buy ratings from analysts, with target prices ranging from $330 to $365 following a strong earnings report that exceeded expectations.
• The company has announced a $245 million share buyback plan, signaling management's belief that its shares are currently undervalued.

Mudita Advisors LLP boosted its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 89.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,409 shares of the company's stock after buying an additional 16,700 shares during the period. Flutter Entertainment makes up about 4.0% of Mudita Advisors LLP's portfolio, making the stock its 11th largest position. Mudita Advisors LLP's holdings in Flutter Entertainment were worth $7,826,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. GPS Wealth Strategies Group LLC raised its holdings in shares of Flutter Entertainment by 1,375.0% in the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock valued at $26,000 after purchasing an additional 110 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Flutter Entertainment in the first quarter valued at about $27,000. Parallel Advisors LLC raised its holdings in shares of Flutter Entertainment by 78.9% in the first quarter. Parallel Advisors LLC now owns 136 shares of the company's stock valued at $30,000 after purchasing an additional 60 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in Flutter Entertainment during the fourth quarter valued at about $33,000. Finally, Harbor Investment Advisory LLC grew its position in Flutter Entertainment by 43.8% during the first quarter. Harbor Investment Advisory LLC now owns 184 shares of the company's stock valued at $41,000 after buying an additional 56 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Truist Financial raised 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. Benchmark restated a "buy" rating and issued a $365.00 target price (up previously from $300.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Citigroup reiterated a "buy" rating on shares of Flutter Entertainment in a report on Thursday, August 14th. Bank of America lifted their price target on shares of Flutter Entertainment from $295.00 to $330.00 and gave the company a "buy" rating in a report on Friday, July 11th. Finally, Oppenheimer boosted their target price on shares of Flutter Entertainment from $310.00 to $350.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $332.70.

Insider Buying and Selling

In related news, CEO Jeremy Peter Jackson sold 2,112 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total transaction of $617,591.04. Following the completion of the transaction, the chief executive officer directly owned 31,944 shares in the company, valued at approximately $9,341,064.48. The trade was a 6.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Amy Howe sold 4,097 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $305.91, for a total value of $1,253,313.27. Following the completion of the transaction, the chief executive officer owned 69,850 shares of the company's stock, valued at $21,367,813.50. The trade was a 5.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,396 shares of company stock valued at $6,759,745. Insiders own 0.09% of the company's stock.

Flutter Entertainment Price Performance

FLUT opened at $292.06 on Wednesday. Flutter Entertainment PLC has a 1 year low of $196.88 and a 1 year high of $313.68. The stock has a 50-day moving average price of $296.41 and a 200-day moving average price of $263.55. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $51.43 billion, a PE ratio of 143.87 and a beta of 2.29.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $2.95 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.87. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The business had revenue of $4.19 billion during the quarter, compared to analyst estimates of $3.06 billion. The business'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. Sell-side analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has initiated a share buyback plan on Friday, August 8th that authorizes the company to buyback $245.00 million in shares. This buyback authorization authorizes the company to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are 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.

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