Sycale Advisors NY LLC Buys New Position in Flutter Entertainment PLC $FLUT

Key Points

• Sycale Advisors NY LLC opened a new position in Flutter Entertainment, buying 67,200 shares worth about $14.45 million. The stake now represents roughly 4.5% of Sycale’s holdings and is its 10th-largest position.
• Flutter’s latest earnings beat expectations, with $1.22 EPS and $4.30 billion in revenue, both above analyst estimates. Revenue also rose 17.4% year over year, and the company later approved a $250 million share buyback.
• The company is drawing attention from both insiders and analysts: CEO Daniel Mark Taylor and COO James Philip Bishop recently bought shares, while the stock has a consensus “Moderate Buy” rating with an average target price of $189.57. Flutter also plans to delist from the London Stock Exchange and concentrate trading in New York.

Sycale Advisors NY LLC bought a new stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 67,200 shares of the company's stock, valued at approximately $14,451,000. Flutter Entertainment makes up about 4.5% of Sycale Advisors NY LLC's holdings, making the stock its 10th largest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Makena Capital Management LLC acquired a new position in Flutter Entertainment during the third quarter worth about $11,517,000. TimesSquare Capital Management LLC grew its holdings in Flutter Entertainment by 294.1% during the third quarter. TimesSquare Capital Management LLC now owns 378,878 shares of the company's stock worth $96,235,000 after acquiring an additional 282,736 shares during the period. Norges Bank acquired a new position in Flutter Entertainment during the fourth quarter worth about $694,009,000. CenterBook Partners LP grew its holdings in Flutter Entertainment by 723.5% during the third quarter. CenterBook Partners LP now owns 13,967 shares of the company's stock worth $3,548,000 after acquiring an additional 12,271 shares during the period. Finally, Peregrine Capital Management LLC grew its holdings in Flutter Entertainment by 34.2% during the fourth quarter. Peregrine Capital Management LLC now owns 150,979 shares of the company's stock worth $32,467,000 after acquiring an additional 38,469 shares during the period.

Insider Transactions at Flutter Entertainment

In related news, CEO Daniel Mark Taylor purchased 1,611 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average price of $94.29 per share, with a total value of $151,901.19. Following the purchase, the chief executive officer owned 34,584 shares of the company's stock, valued at $3,260,925.36. This trade represents a 4.89% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO James Philip Bishop acquired 1,000 shares of the firm's stock in a transaction on Monday, May 11th. The shares were acquired at an average price of $99.75 per share, with a total value of $99,750.00. Following the completion of the transaction, the chief operating officer directly owned 17,605 shares in the company, valued at approximately $1,756,098.75. This trade represents a 6.02% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have bought 10,453 shares of company stock worth $1,045,526 and have sold 5,994 shares worth $577,293. Company insiders own 0.13% of the company's stock.

Analyst Ratings Changes

FLUT has been the topic of a number of research analyst reports. Kepler Capital Markets lowered Flutter Entertainment from a "strong-buy" rating to a "hold" rating in a report on Monday, March 16th. BNP Paribas Exane assumed coverage on Flutter Entertainment in a report on Thursday, May 14th. They set an "underperform" rating and a $80.00 target price on the stock. Sanford C. Bernstein cut their price objective on Flutter Entertainment from $125.00 to $115.00 and set a "market perform" rating for the company in a research report on Thursday, May 7th. Stifel Nicolaus cut their price objective on Flutter Entertainment from $216.00 to $189.00 and set a "buy" rating for the company in a research report on Thursday, April 9th. Finally, Truist Financial cut their price objective on Flutter Entertainment from $140.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $189.57.

Flutter Entertainment Trading Up 0.1%

Shares of FLUT opened at $110.73 on Monday. The business's 50-day moving average price is $103.24 and its 200 day moving average price is $143.51. The stock has a market capitalization of $19.26 billion, a P/E ratio of -51.74, a P/E/G ratio of 1.43 and a beta of 1.40. Flutter Entertainment PLC has a 1-year low of $91.52 and a 1-year high of $313.68. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.13. The firm had revenue of $4.30 billion for the quarter, compared to analysts' expectations of $4.24 billion. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.Flutter Entertainment's revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the business posted $1.59 EPS. Analysts expect that Flutter Entertainment PLC will post 5 earnings per share for the current year.

Flutter Entertainment announced that its Board of Directors has approved a share buyback program on Wednesday, March 11th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Flutter Entertainment News Summary

Here are the key news stories impacting Flutter Entertainment this week:

• Positive Sentiment: Flutter said it will delist from the London Stock Exchange in August and concentrate all trading in New York, a move aimed at lowering costs and simplifying its listing structure. WSJ article
• Positive Sentiment: Investors are also encouraged by World Cup-related optimism, with several reports highlighting Flutter as a potential beneficiary of a betting surge during the tournament and management expecting very strong customer activity. Barron's article
• Positive Sentiment: Flutter was also mentioned alongside other stocks that could benefit from the World Cup betting boom, reinforcing the market’s view that the company has a major near-term catalyst in its FanDuel-led U.S. business. Invezz article
• Neutral Sentiment: Other coverage focused on the mechanics of the delisting, including the final London trading date and the company’s shift to a sole New York venue, which is important strategically but not a direct earnings update. Proactive Investors article
• Neutral Sentiment: Market commentary before the open also noted Flutter’s delisting news among broader headlines, helping keep the stock in focus with investors. Investopedia article
• Negative Sentiment: Some coverage framed the London exit as another setback for U.K. markets, which could create a modest reputational overhang even though the move is intended to benefit Flutter shareholders. Guardian article

Flutter Entertainment Profile

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company's primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter's brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.

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