Theleme Partners LLP Makes New Investment in Flutter Entertainment PLC $FLUT

Key Points

• Theleme Partners LLP has acquired a new stake in Flutter Entertainment PLC, purchasing 371,528 shares valued at approximately $82 million, which represents 6.5% of its investment portfolio.
• Several hedge funds have significantly increased their holdings in Flutter, with GPS Wealth Strategies Group raising its ownership by an astonishing 1,375.0% in the first quarter.
• Flutter Entertainment's recent quarterly earnings exceeded analysts' expectations, reporting an EPS of $2.95, alongside a revenue increase of 16% year-over-year, prompting positive adjustments to analyst price targets for the stock.

Theleme Partners LLP acquired a new stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 371,528 shares of the company's stock, valued at approximately $82,312,000. Flutter Entertainment accounts for about 6.5% of Theleme Partners LLP's investment portfolio, making the stock its 8th biggest holding. Theleme Partners LLP owned 0.21% of Flutter Entertainment at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GPS Wealth Strategies Group LLC raised its holdings in Flutter Entertainment by 1,375.0% in the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock valued at $26,000 after acquiring an additional 110 shares in the last quarter. SVB Wealth LLC acquired a new stake in Flutter Entertainment during the first quarter worth approximately $27,000. Tower Research Capital LLC TRC acquired a new stake in Flutter Entertainment during the fourth quarter worth approximately $33,000. Parallel Advisors LLC raised its holdings in Flutter Entertainment by 78.9% during the first quarter. Parallel Advisors LLC now owns 136 shares of the company's stock worth $30,000 after purchasing an additional 60 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Flutter Entertainment by 90.6% in the 1st quarter. Farther Finance Advisors LLC now owns 183 shares of the company's stock valued at $41,000 after acquiring an additional 87 shares during the period.

Analysts Set New Price Targets

A number of brokerages have recently commented on FLUT. JMP Securities lifted their target price on shares of Flutter Entertainment from $323.00 to $345.00 and gave the company a "market outperform" rating in a report on Friday, August 8th. Oppenheimer boosted 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. Sanford C. Bernstein restated a "market perform" rating on shares of Flutter Entertainment in a research report on Friday, August 8th. Canaccord Genuity Group boosted their price objective 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. Finally, Benchmark reissued a "buy" rating and issued a $365.00 target price (up previously from $300.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $332.70.

Insider Buying and Selling at Flutter Entertainment

In related news, insider James Philip Bishop sold 1,904 shares of the stock in a transaction that occurred on 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. This represents a 28.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Mark Taylor sold 15,283 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $284.80, for a total transaction of $4,352,598.40. Following the sale, the insider directly owned 16,589 shares of the company's stock, valued at approximately $4,724,547.20. This trade represents a 47.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 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 1.0%

NYSE FLUT opened at $295.19 on Friday. Flutter Entertainment PLC has a 12 month low of $196.88 and a 12 month high of $313.68. The company has a 50-day moving average of $296.23 and a 200-day moving average of $263.41. 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 company has a market cap of $51.98 billion, a P/E ratio of 145.41, a P/E/G ratio of 1.43 and a beta of 2.29.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $2.95 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.87. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.06 billion. The business's quarterly revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its board has initiated a share buyback 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 shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

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.

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