Selkirk Management LLC Has $19 Million Stock Holdings in Flutter Entertainment PLC $FLUT

Key Points

• Selkirk Management LLC increased its stake in Flutter Entertainment PLC by 8.9% during the first quarter, bringing its total holdings to approximately $19 million.
• Several hedge funds have also significantly raised their positions in Flutter Entertainment, with Samlyn Capital LLC leading the charge at a 98.5% increase to hold shares valued at $117 million.
• Flutter Entertainment's stock shows promising analyst ratings, with a consensus of "Moderate Buy" and an average price target of $332.70, following recent earnings that surpassed expectations.

Selkirk Management LLC raised its stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 8.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 85,776 shares of the company's stock after purchasing an additional 7,000 shares during the quarter. Flutter Entertainment accounts for 7.3% of Selkirk Management LLC's portfolio, making the stock its 5th biggest position. Selkirk Management LLC's holdings in Flutter Entertainment were worth $19,004,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the business. Samlyn Capital LLC increased its stake in shares of Flutter Entertainment by 98.5% during the first quarter. Samlyn Capital LLC now owns 529,102 shares of the company's stock valued at $117,223,000 after buying an additional 262,588 shares during the period. Palestra Capital Management LLC raised its position in shares of Flutter Entertainment by 8.1% in the 1st quarter. Palestra Capital Management LLC now owns 724,691 shares of the company's stock worth $160,555,000 after purchasing an additional 53,996 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Flutter Entertainment by 5.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company's stock worth $290,000 after purchasing an additional 69 shares during the last quarter. KADENSA CAPITAL Ltd purchased a new position in shares of Flutter Entertainment in the 1st quarter worth about $17,170,000. Finally, HMI Capital Management L.P. raised its position in shares of Flutter Entertainment by 21.8% in the 1st quarter. HMI Capital Management L.P. now owns 1,015,209 shares of the company's stock worth $224,920,000 after purchasing an additional 181,400 shares during the last quarter.

Insider Buying and Selling

In other news, CEO Amy Howe sold 4,097 shares of the company'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 owned 69,850 shares in the company, valued at $21,367,813.50. This represents a 5.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total value of $617,591.04. Following the completion of the transaction, the chief executive officer directly owned 31,944 shares of the company's stock, valued at $9,341,064.48. The trade was a 6.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,396 shares of company stock worth $6,759,745 over the last ninety days. 0.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FLUT. Barclays increased their price objective on Flutter Entertainment from $350.00 to $352.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Citigroup reaffirmed a "buy" rating on shares of Flutter Entertainment in a research note on Thursday, August 14th. Jefferies Financial Group began coverage on Flutter Entertainment in a research note on Tuesday, July 8th. They issued a "buy" rating and a $380.00 price objective on the stock. Peel Hunt downgraded Flutter Entertainment from an "add" rating to a "hold" rating in a research note on Friday, August 8th. Finally, Macquarie lifted their target price on Flutter Entertainment from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $332.70.

Flutter Entertainment Stock Up 1.0%

Flutter Entertainment stock opened at $295.19 on Friday. 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 simple moving average is $296.23 and its two-hundred day simple moving average is $263.41. The company has a market cap of $51.98 billion, a PE ratio of 145.41, a PEG ratio of 1.43 and a beta of 2.29. Flutter Entertainment PLC has a fifty-two week low of $196.88 and a fifty-two week high of $313.68.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly 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 business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $3.06 billion. The business's revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. Equities analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment declared that its Board of Directors has approved a share repurchase plan on Friday, August 8th that permits the company to buyback $245.00 million in shares. This buyback authorization permits the company to buy up to 0.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are 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.

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