Pallas Capital Advisors LLC Takes Position in Flutter Entertainment PLC $FLUT

Key Points

• Pallas Capital Advisors LLC has acquired a new stake in Flutter Entertainment PLC, purchasing 1,088 shares valued at approximately $311,000.
• Despite recent insider selling, analyst ratings for Flutter Entertainment are largely positive, with several firms upgrading their ratings and setting a price target around $332.70.
• Flutter reported better-than-expected earnings, with a net revenue of $4.19 billion in the last quarter, reflecting a year-over-year growth of 16.0%.

Pallas Capital Advisors LLC acquired a new stake in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,088 shares of the company's stock, valued at approximately $311,000.

Other institutional investors also recently bought and sold shares of the company. PARUS FINANCE UK Ltd boosted its holdings in shares of Flutter Entertainment by 1.5% in the first quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company's stock worth $742,000 after buying an additional 50 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in Flutter Entertainment by 3.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,836 shares of the company's stock worth $407,000 after acquiring an additional 53 shares during the period. Harbor Investment Advisory LLC raised its position in shares of 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 last quarter. Parallel Advisors LLC raised its position in shares of Flutter Entertainment by 78.9% during the first quarter. Parallel Advisors LLC now owns 136 shares of the company's stock valued at $30,000 after buying an additional 60 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Flutter Entertainment by 1.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company's stock valued at $1,060,000 after purchasing an additional 67 shares in the last quarter.

Flutter Entertainment Stock Up 0.4%

Shares of FLUT stock traded up $1.00 on Monday, reaching $285.50. 1,751,016 shares of the company's stock traded hands, compared to its average volume of 1,595,368. The company has a market capitalization of $50.28 billion, a P/E ratio of 42.02 and a beta of 2.30. Flutter Entertainment PLC has a 12-month low of $196.88 and a 12-month high of $313.68. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95. The business's 50 day moving average price is $296.17 and its two-hundred day moving average price is $264.60.

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. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The company had revenue of $4.19 billion for the quarter, compared to analyst estimates of $3.06 billion. 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. On average, equities analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

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

Insiders Place Their Bets

In other news, CEO Amy Howe sold 4,097 shares of the business's stock in a transaction dated 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 sale, the chief executive officer directly owned 69,850 shares in the company, valued at $21,367,813.50. The trade was a 5.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James Philip Bishop sold 1,904 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $281.64, for a total value of $536,242.56. Following the completion of the sale, 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. Insiders have sold 23,396 shares of company stock valued at $6,759,745 in the last 90 days. Insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

FLUT has been the subject of a number of recent analyst reports. Benchmark reissued a "buy" rating and set a $365.00 target price (up from $300.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Truist Financial boosted their target price on shares of Flutter Entertainment from $280.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. UBS Group restated a "buy" rating and set a $360.00 price objective (up previously from $340.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Needham & Company LLC upped their price objective on shares of Flutter Entertainment from $340.00 to $355.00 and gave the company a "buy" rating in a report on Friday, August 8th. 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 research report on Tuesday, July 22nd. One 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, the stock 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.