Flutter Entertainment PLC $FLUT Shares Bought by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management increased its holdings in Flutter Entertainment PLC by 32% during the first quarter, acquiring an additional 103,132 shares to bring its total to 425,157 shares, valued at approximately $94.19 million.
• Flutter Entertainment exceeded earnings expectations with an EPS of $2.95, significantly surpassing the consensus estimate of $2.08, and achieving a revenue of $4.19 billion for the quarter.
• The company announced a stock repurchase plan authorizing up to $245 million in buybacks, indicating the board's belief that its shares are undervalued.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 32.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 425,157 shares of the company's stock after purchasing an additional 103,132 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.24% of Flutter Entertainment worth $94,194,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Fred Alger Management LLC acquired a new position in shares of Flutter Entertainment during the first quarter worth $3,051,000. CTC Alternative Strategies Ltd. acquired a new position in shares of Flutter Entertainment during the first quarter worth $820,000. Sender Co & Partners Inc. lifted its position in shares of Flutter Entertainment by 186.2% during the first quarter. Sender Co & Partners Inc. now owns 6,082 shares of the company's stock worth $1,347,000 after purchasing an additional 3,957 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its stake in shares of Flutter Entertainment by 92.2% in the first quarter. Dynamic Technology Lab Private Ltd now owns 7,420 shares of the company's stock worth $1,644,000 after buying an additional 3,560 shares during the last quarter. Finally, Theleme Partners LLP bought a new stake in shares of Flutter Entertainment in the first quarter worth $82,312,000.

Analyst Ratings Changes

FLUT has been the subject of a number of research analyst reports. Barclays lifted their price target on shares of Flutter Entertainment from $350.00 to $352.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. UBS Group restated a "buy" rating and issued a $360.00 price target (up previously from $340.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Citigroup restated a "buy" rating on shares of Flutter Entertainment in a research note on Thursday, August 14th. Zacks Research upgraded shares of Flutter Entertainment from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. Finally, Peel Hunt lowered shares of Flutter Entertainment from an "add" rating to a "hold" rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $332.70.

Insider Activity

In other news, CEO Jeremy Peter Jackson sold 2,112 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total transaction of $617,591.04. Following the completion of the transaction, the chief executive officer owned 31,944 shares in the company, valued at approximately $9,341,064.48. This represents a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $1,253,313.27. Following the transaction, the chief executive officer owned 69,850 shares of the company's stock, valued at $21,367,813.50. This represents a 5.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,396 shares of company stock worth $6,759,745 over the last ninety days. Insiders own 0.09% of the company's stock.

Flutter Entertainment Stock Performance

FLUT stock traded up $3.72 during trading on Thursday, hitting $282.70. 1,268,746 shares of the company's stock traded hands, compared to its average volume of 1,535,507. The stock has a fifty day moving average price of $296.48 and a two-hundred day moving average price of $264.20. The stock has a market capitalization of $49.78 billion, a price-to-earnings ratio of 139.26 and a beta of 2.29. 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.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, topping the consensus estimate of $2.08 by $0.87. The business had revenue of $4.19 billion during 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 company's quarterly revenue was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment declared that its board has approved a stock repurchase program 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 stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

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.