Persistent Asset Partners Ltd Acquires Shares of 1,469 Flutter Entertainment PLC (NYSE:FLUT)

Key Points

• Persistent Asset Partners Ltd acquired 1,469 shares of Flutter Entertainment PLC valued at approximately $325,000, marking a significant investment in the company.
• Flutter Entertainment reported a quarterly earnings result of $2.95 EPS, exceeding the consensus estimate of $2.08, with a revenue increase of 16.0% year-over-year.
• The company has initiated a $245 million share repurchase program, indicating management's belief that its stock may be undervalued.

Persistent Asset Partners Ltd acquired a new stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,469 shares of the company's stock, valued at approximately $325,000.

A number of other institutional investors have also recently bought and sold shares of FLUT. PARUS FINANCE UK Ltd raised its position in shares of Flutter Entertainment by 1.5% in the 1st quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company's stock valued at $742,000 after buying an additional 50 shares in the last quarter. Sequoia Financial Advisors LLC increased its position 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 purchasing an additional 53 shares in the last quarter. Harbor Investment Advisory LLC increased its position in Flutter Entertainment by 43.8% during the 1st quarter. Harbor Investment Advisory LLC now owns 184 shares of the company's stock worth $41,000 after purchasing an additional 56 shares in the last quarter. Parallel Advisors LLC increased its position in Flutter Entertainment by 78.9% during the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company's stock worth $30,000 after purchasing an additional 60 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in Flutter Entertainment by 1.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company's stock worth $1,060,000 after purchasing an additional 67 shares in the last quarter.

Insider Transactions at Flutter Entertainment

In other Flutter Entertainment news, Director Carolan Lennon sold 430 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total value of $105,655.30. Following the completion of the transaction, the director directly owned 769 shares of the company's stock, valued at approximately $188,950.99. The trade was a 35.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alfred F. Hurley, Jr. sold 265 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $243.94, for a total value of $64,644.10. Following the transaction, the director directly owned 3,518 shares of the company's stock, valued at approximately $858,180.92. The trade was a 7.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,455 shares of company stock valued at $601,632 over the last three months. 0.09% of the stock is currently owned by corporate insiders.

Flutter Entertainment Stock Performance

Shares of Flutter Entertainment stock opened at $284.75 on Tuesday. The stock has a market cap of $50.14 billion, a price-to-earnings ratio of 140.27, a PEG ratio of 1.12 and a beta of 2.31. The firm's 50-day moving average is $283.92 and its 200 day moving average is $260.32. Flutter Entertainment PLC has a 1 year low of $183.18 and a 1 year high of $313.68. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, beating the consensus estimate of $2.08 by $0.87. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The firm had revenue of $4.19 billion during the quarter, compared to analyst estimates of $3.06 billion. The company's revenue was up 16.0% compared to the same quarter last year. Sell-side analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment declared that its board has authorized a share repurchase program on Friday, August 8th that allows the company to buyback $245.00 million in shares. This buyback authorization allows the company to purchase up to 0.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have issued reports on FLUT shares. Citigroup restated an "outperform" rating on shares of Flutter Entertainment in a research report on Friday. Bank of America increased their target price on shares of Flutter Entertainment from $295.00 to $330.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. UBS Group reissued a "buy" rating and set a $360.00 target price (up from $340.00) on shares of Flutter Entertainment in a research note on Friday. Benchmark reaffirmed a "buy" rating and issued a $365.00 price objective (up from $300.00) on shares of Flutter Entertainment in a research note on Friday. Finally, BTIG Research dropped their price objective on shares of Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $328.62.

Flutter Entertainment Company 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.

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