Flutter Entertainment PLC $FLUT Shares Purchased by Samlyn Capital LLC

Key Points

• Samlyn Capital LLC increased its stake in Flutter Entertainment PLC by 98.5% in Q1, acquiring an additional 262,588 shares and bringing its total ownership to 529,102 shares valued at $117.2 million.
• Flutter Entertainment reported $2.95 EPS for the last quarter, exceeding analysts' estimates, with revenue up 16.0% year-over-year at $4.19 billion.
• The company initiated a share repurchase program allowing it to repurchase up to $245 million in shares, reflecting management's belief that the stock is undervalued.

Samlyn Capital LLC grew its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 98.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 529,102 shares of the company's stock after purchasing an additional 262,588 shares during the quarter. Flutter Entertainment makes up approximately 1.7% of Samlyn Capital LLC's holdings, making the stock its 19th biggest position. Samlyn Capital LLC owned about 0.30% of Flutter Entertainment worth $117,223,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its stake in shares of 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 valued at $715,737,000 after acquiring an additional 167,621 shares during the period. Egerton Capital UK LLP boosted its stake in Flutter Entertainment by 16.9% in 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 period. BNP Paribas Financial Markets boosted its position in shares of Flutter Entertainment by 196.5% during the 1st quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company's stock valued at $441,916,000 after acquiring an additional 1,322,016 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Flutter Entertainment by 52.2% during the 1st quarter. Deutsche Bank AG now owns 1,849,769 shares of the company's stock valued at $409,816,000 after acquiring an additional 634,497 shares during the last quarter. Finally, Amundi boosted its position in shares of Flutter Entertainment by 77.3% during the 1st quarter. Amundi now owns 1,421,434 shares of the company's stock valued at $309,332,000 after acquiring an additional 619,625 shares during the last quarter.

Analyst Ratings Changes

Several research firms recently weighed in on FLUT. Stifel Nicolaus increased their price target on Flutter Entertainment from $353.00 to $356.00 and gave the company a "buy" rating in a report on Friday, August 8th. Macquarie increased their price target on Flutter Entertainment from $320.00 to $340.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Canaccord Genuity Group raised their price objective on Flutter Entertainment from $330.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Jefferies Financial Group assumed coverage on Flutter Entertainment in a report on Tuesday, July 8th. They issued a "buy" rating and a $380.00 price target for the company. Finally, Needham & Company LLC raised their price objective on Flutter Entertainment from $340.00 to $355.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Flutter Entertainment presently has an average rating of "Moderate Buy" and an average target price of $332.70.

Insider Buying and Selling

In other 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 transaction of $536,242.56. Following the completion of the transaction, the insider directly 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 legal filing with the SEC, which can be accessed through this link. 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 transaction, the insider directly owned 16,589 shares of the company's stock, valued at approximately $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. Insiders have sold 23,396 shares of company stock worth $6,759,745 in the last quarter. Company insiders own 0.09% of the company's stock.

Flutter Entertainment Trading Up 1.3%

Shares of FLUT stock traded up $3.71 on Tuesday, hitting $291.75. The stock had a trading volume of 177,771 shares, compared to its average volume of 2,262,527. 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 capitalization of $51.38 billion, a P/E ratio of 143.32 and a beta of 2.30. Flutter Entertainment PLC has a 1 year low of $196.88 and a 1 year high of $313.68. The company's 50 day moving average price is $296.27 and its 200-day moving average price is $263.35.

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

Flutter Entertainment declared that its board has initiated a stock buyback 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 shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its stock is undervalued.

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.