Soros Capital Management LLC Has $19.16 Million Position in Flutter Entertainment PLC $FLUT

Key Points

• Soros Capital Management LLC reduced its stake in Flutter Entertainment PLC by 1.3%, owning 86,459 shares worth approximately $19.16 million as of the latest SEC filing.
• Flutter Entertainment reported quarterly earnings of $2.95 per share, surpassing analysts' expectations, and revenue of $4.19 billion, which was significantly above the estimated $3.06 billion.
• The company has initiated a share repurchase program allowing for up to $245 million in share repurchases, indicating management's confidence in the stock's valuation.

Soros Capital Management LLC cut its stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,459 shares of the company's stock after selling 1,127 shares during the quarter. Flutter Entertainment makes up 4.9% of Soros Capital Management LLC's portfolio, making the stock its 5th biggest holding. Soros Capital Management LLC's holdings in Flutter Entertainment were worth $19,155,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Freedom Investment Management Inc. acquired a new position in Flutter Entertainment during the first quarter worth $517,000. ICONIQ Capital LLC increased its position in Flutter Entertainment by 31.6% during the first quarter. ICONIQ Capital LLC now owns 1,167 shares of the company's stock worth $259,000 after buying an additional 280 shares during the last quarter. Jump Financial LLC acquired a new position in Flutter Entertainment during the first quarter worth $12,764,000. SVB Wealth LLC acquired a new position in Flutter Entertainment during the first quarter worth $27,000. Finally, Allstate Corp increased its position in Flutter Entertainment by 26.3% during the first quarter. Allstate Corp now owns 6,691 shares of the company's stock worth $1,482,000 after buying an additional 1,392 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FLUT shares. Benchmark reissued a "buy" rating and set a $365.00 target price (up from $300.00) on shares of Flutter Entertainment in a research report on Friday, August 8th. Oppenheimer increased their target price on shares of Flutter Entertainment from $310.00 to $350.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Canaccord Genuity Group increased their target price on shares of Flutter Entertainment from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Hsbc Global Res raised shares of Flutter Entertainment to a "hold" rating in a research report on Wednesday, June 18th. Finally, Stifel Nicolaus raised their price target on Flutter Entertainment from $353.00 to $356.00 and gave the company a "buy" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $332.70.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT traded down $0.87 during mid-day trading on Friday, hitting $307.73. The company had a trading volume of 1,282,229 shares, compared to its average volume of 1,970,213. 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 business's 50-day simple moving average is $293.72 and its 200-day simple moving average is $263.25. Flutter Entertainment PLC has a 12 month low of $196.88 and a 12 month high of $313.68. The firm has a market cap of $54.19 billion, a P/E ratio of 151.59, a PEG ratio of 1.49 and a beta of 2.31.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its 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 net margin of 2.96% and a return on equity of 12.15%. The business had revenue of $4.19 billion during the quarter, compared to analysts' expectations 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. As a group, analysts predict 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 approved 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 buy up to 0.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Christine M. Mccarthy sold 264 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $244.12, for a total value of $64,447.68. Following the completion of the sale, the director owned 559 shares in the company, valued at approximately $136,463.08. This trade represents a 32.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James Philip Bishop sold 1,904 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $281.64, for a total transaction of $536,242.56. Following the completion of the sale, the insider owned 4,712 shares of the company's stock, valued at approximately $1,327,087.68. The trade was a 28.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,851 shares of company stock valued at $7,361,377 in the last quarter. 0.09% of the stock is currently owned by 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.