Flutter Entertainment PLC $FLUT Shares Sold by Rip Road Capital Partners LP

Key Points

• Rip Road Capital Partners LP reduced its stake in Flutter Entertainment PLC by 32.9%, selling 7,715 shares during the first quarter, now holding 15,736 shares worth approximately $3.49 million.
• Flutter's stock repurchase plan has been approved, allowing the company to buy back $245 million worth of its shares, indicating confidence in its long-term value.
• In its most recent earnings report, Flutter reported an earnings per share (EPS) of $2.95, significantly beating estimates and achieving a 16% year-over-year revenue growth.

Rip Road Capital Partners LP lessened its holdings in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 32.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,736 shares of the company's stock after selling 7,715 shares during the period. Flutter Entertainment comprises about 3.8% of Rip Road Capital Partners LP's portfolio, making the stock its 12th largest holding. Rip Road Capital Partners LP's holdings in Flutter Entertainment were worth $3,486,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC increased its stake in Flutter Entertainment by 1,375.0% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock worth $26,000 after buying an additional 110 shares in the last quarter. SVB Wealth LLC acquired a new position in Flutter Entertainment in the first quarter valued at approximately $27,000. Parallel Advisors LLC lifted its holdings in 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 acquiring an additional 60 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in Flutter Entertainment in the fourth quarter valued at approximately $33,000. Finally, Harbor Investment Advisory LLC lifted its holdings in Flutter Entertainment by 43.8% in the first quarter. Harbor Investment Advisory LLC now owns 184 shares of the company's stock valued at $41,000 after acquiring an additional 56 shares during the last quarter.

Flutter Entertainment Price Performance

Shares of Flutter Entertainment stock traded up $3.64 during trading on Tuesday, hitting $291.68. 177,771 shares of the company were exchanged, compared to its average volume of 2,262,527. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Flutter Entertainment PLC has a fifty-two week low of $196.88 and a fifty-two week high of $313.68. The stock has a market capitalization of $51.37 billion, a price-to-earnings ratio of 143.32 and a beta of 2.30. The firm has a 50 day moving average price of $296.27 and a 200 day moving average price of $263.35.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $2.95 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.06 billion. The firm's quarterly revenue was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, equities analysts expect that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has authorized a stock buyback plan on Friday, August 8th that allows the company to repurchase $245.00 million in shares. This repurchase authorization allows the company to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

FLUT has been the topic of a number of research reports. Macquarie upped their price target on Flutter Entertainment from $320.00 to $340.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. JMP Securities raised their price target on Flutter Entertainment from $323.00 to $345.00 and gave the company a "market outperform" rating in a research note on Friday, August 8th. Barclays raised their price objective on Flutter Entertainment from $350.00 to $352.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Bank of America raised their price objective on Flutter Entertainment from $295.00 to $330.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of Flutter Entertainment in a report on Friday, August 8th. One equities 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 MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $332.70.

Insider Buying and Selling

In related news, CEO Amy Howe sold 4,097 shares of Flutter Entertainment stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $305.91, for a total transaction of $1,253,313.27. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel Mark Taylor sold 15,283 shares of Flutter Entertainment stock in a transaction that occurred on 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 transaction, the insider owned 16,589 shares of the company's stock, valued at $4,724,547.20. This represents a 47.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,396 shares of company stock valued at $6,759,745. 0.09% of the stock is currently owned by company insiders.

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.