Twin Tree Management LP Purchases New Position in Flutter Entertainment PLC $FLUT

Key Points

• Twin Tree Management LP acquired a stake in Flutter Entertainment PLC, purchasing 15,581 shares valued at approximately $3.45 million during the 1st quarter.
• Several institutional investors have increased their holdings in Flutter, with Harbor Investment Advisory LLC notably raising its position by 43.8%.
• Flutter's recent financial performance was strong, with an earnings per share (EPS) of $2.95, surpassing estimates, and the company also announced a share repurchase plan of $245 million.

Twin Tree Management LP purchased a new position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 15,581 shares of the company's stock, valued at approximately $3,452,000.

Several other large investors also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA increased its holdings in Flutter Entertainment by 5.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,230,587 shares of the company's stock worth $715,737,000 after buying an additional 167,621 shares in the last quarter. Egerton Capital UK LLP grew its stake in shares of Flutter Entertainment by 16.9% during the 1st quarter. Egerton Capital UK LLP now owns 2,193,794 shares of the company's stock valued at $486,035,000 after purchasing an additional 316,411 shares during the period. BNP Paribas Financial Markets grew its stake 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 purchasing an additional 1,322,016 shares during the period. Deutsche Bank AG grew its stake 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 purchasing an additional 634,497 shares during the period. Finally, Nuveen LLC bought a new position in shares of Flutter Entertainment in the first quarter worth about $289,627,000.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, CEO Amy Howe sold 4,097 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $305.91, for a total transaction of $1,253,313.27. Following the completion of the sale, the chief executive officer directly owned 69,850 shares of the company's stock, valued at approximately $21,367,813.50. This represents a 5.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 sale, the insider directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,396 shares of company stock worth $6,759,745. Company insiders own 0.09% of the company's stock.

Flutter Entertainment Trading Up 1.0%

Flutter Entertainment stock traded up $2.81 during midday trading on Friday, reaching $295.19. The stock had a trading volume of 1,926,671 shares, compared to its average volume of 1,792,129. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Flutter Entertainment PLC has a 52-week low of $196.88 and a 52-week high of $313.68. The firm has a market cap of $51.98 billion, a price-to-earnings ratio of 145.41, a price-to-earnings-growth ratio of 1.42 and a beta of 2.29. The company has a fifty day moving average of $296.23 and a 200 day moving average of $263.61.

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 for the quarter, topping analysts' consensus estimates of $2.08 by $0.87. The company had revenue of $4.19 billion for the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The firm's revenue for the quarter was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, analysts anticipate that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Flutter Entertainment announced that its board has approved a stock repurchase plan on Friday, August 8th that allows the company to repurchase $245.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

FLUT has been the subject of a number of recent research reports. Sanford C. Bernstein reiterated a "market perform" rating on shares of Flutter Entertainment in a research note on Friday, August 8th. Oppenheimer boosted their price objective on Flutter Entertainment from $310.00 to $350.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Jefferies Financial Group initiated coverage on Flutter Entertainment in a research note on Tuesday, July 8th. They set a "buy" rating and a $380.00 price objective for the company. Stifel Nicolaus boosted their price objective on Flutter Entertainment from $353.00 to $356.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Finally, Citigroup reiterated a "buy" rating on shares of Flutter Entertainment in a research note on Thursday, August 14th. One 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. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $332.70.

About Flutter Entertainment

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.