Flutter Entertainment PLC $FLUT Shares Sold by Philosophy Capital Management LLC

Key Points

• Philosophy Capital Management LLC has reduced its stake in Flutter Entertainment PLC by 56.7%, now holding 43,324 shares valued at approximately $9.6 million, making it the firm's 26th largest holding.
• Several hedge funds, including Massachusetts Financial Services and BNP Paribas Financial Markets, have increased their holdings in Flutter Entertainment, with the latter growing its position by 196.5% in the first quarter.
• Flutter Entertainment recently reported a quarterly EPS of $2.95, exceeding expectations by $0.87, and declared a stock repurchase plan allowing for the buyback of up to $245 million worth of shares.

Philosophy Capital Management LLC lessened its stake in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 56.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 43,324 shares of the company's stock after selling 56,776 shares during the period. Flutter Entertainment makes up about 0.7% of Philosophy Capital Management LLC's portfolio, making the stock its 26th biggest position. Philosophy Capital Management LLC's holdings in Flutter Entertainment were worth $9,598,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA grew its position in Flutter Entertainment by 5.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,230,587 shares of the company's stock worth $715,737,000 after purchasing an additional 167,621 shares during the last quarter. Egerton Capital UK LLP grew its position in Flutter Entertainment by 16.9% during the 1st quarter. Egerton Capital UK LLP now owns 2,193,794 shares of the company's stock worth $486,035,000 after purchasing an additional 316,411 shares during the last quarter. BNP Paribas Financial Markets grew its position in Flutter Entertainment by 196.5% during the 1st quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company's stock worth $441,916,000 after purchasing an additional 1,322,016 shares during the last quarter. Deutsche Bank AG grew its position in Flutter Entertainment by 52.2% during the 1st quarter. Deutsche Bank AG now owns 1,849,769 shares of the company's stock worth $409,816,000 after purchasing an additional 634,497 shares during the last quarter. Finally, Amundi grew its position in Flutter Entertainment by 77.3% during the 1st quarter. Amundi now owns 1,421,434 shares of the company's stock worth $309,332,000 after purchasing an additional 619,625 shares during the last quarter.

Flutter Entertainment Stock Performance

Shares of FLUT traded down $7.52 during trading hours on Monday, hitting $287.76. The stock had a trading volume of 2,459,607 shares, compared to its average volume of 1,522,570. The firm has a 50-day moving average price of $296.27 and a 200 day moving average price of $263.35. Flutter Entertainment PLC has a fifty-two week low of $196.88 and a fifty-two week high of $313.68. The firm has a market capitalization of $50.67 billion, a price-to-earnings ratio of 141.75 and a beta of 2.30. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $2.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment's revenue for the quarter was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment declared that its board has authorized a share buyback program 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 stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have weighed in on FLUT shares. Zacks Research raised shares of Flutter Entertainment from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Citigroup reaffirmed a "buy" rating on shares of Flutter Entertainment in a report on Thursday, August 14th. Kepler Capital Markets raised shares of Flutter Entertainment to a "strong-buy" rating in a report on Thursday, August 28th. UBS Group reissued a "buy" rating and set a $360.00 target price (up previously from $340.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Finally, Canaccord Genuity Group raised their target price on shares of Flutter Entertainment from $330.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $332.70.

Insider Activity

In related news, insider James Philip Bishop sold 1,904 shares of the company's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $281.64, for a total value of $536,242.56. Following the completion of the transaction, the insider owned 4,712 shares of the company's stock, valued at approximately $1,327,087.68. This represents a 28.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Mark Taylor sold 15,283 shares of the company's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $284.80, for a total value of $4,352,598.40. Following the completion of the transaction, the insider directly owned 16,589 shares of the company's stock, valued at $4,724,547.20. The trade was a 47.95% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,396 shares of company stock valued at $6,759,745. 0.09% of the stock is currently owned by corporate insiders.

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.