Whitebark Investors LP Has $42.13 Million Stock Position in Flutter Entertainment PLC $FLUT

Key Points

• Whitebark Investors LP reduced its stake in Flutter Entertainment by 6.4%, now holding approximately 147,434 shares worth about $42.13 million, making it their largest investment.
• Flutter Entertainment's stock recently reported a 10.7% decline, with current trading at $253.01, having a market capitalization of $44.56 billion and a P/E ratio of 124.64.
• The company announced a $245 million stock buyback program, indicating confidence from leadership in the undervaluation of its stock.

Whitebark Investors LP lessened its position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 6.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,434 shares of the company's stock after selling 10,000 shares during the period. Flutter Entertainment comprises 26.6% of Whitebark Investors LP's holdings, making the stock its largest position. Whitebark Investors LP owned approximately 0.08% of Flutter Entertainment worth $42,131,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC increased its holdings in Flutter Entertainment by 1,375.0% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock worth $26,000 after purchasing an additional 110 shares in the last quarter. SVB Wealth LLC bought a new position in shares of Flutter Entertainment in the 1st quarter valued at about $27,000. ORG Partners LLC grew its holdings in shares of Flutter Entertainment by 300.0% in the 2nd quarter. ORG Partners LLC now owns 100 shares of the company's stock valued at $28,000 after acquiring an additional 75 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Flutter Entertainment by 78.9% in the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company's stock valued at $30,000 after acquiring an additional 60 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Flutter Entertainment by 98.5% in the 2nd quarter. Signaturefd LLC now owns 129 shares of the company's stock valued at $37,000 after acquiring an additional 64 shares in the last quarter.

Flutter Entertainment Trading Down 10.7%

Flutter Entertainment stock opened at $253.01 on Wednesday. Flutter Entertainment PLC has a 52 week low of $196.88 and a 52 week high of $313.68. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $44.56 billion, a P/E ratio of 124.64 and a beta of 2.29. The stock has a 50-day simple moving average of $293.27 and a 200 day simple moving average of $266.22.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.87. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.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% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. Analysts expect that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its Board of Directors has initiated a stock buyback program on Friday, August 8th that authorizes the company to buyback $245.00 million in shares. This buyback authorization authorizes the company to repurchase up to 0.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

FLUT has been the subject of several analyst reports. Zacks Research upgraded Flutter Entertainment from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Hsbc Global Res upgraded Flutter Entertainment to a "hold" rating in a report on Wednesday, June 18th. Jefferies Financial Group initiated coverage on Flutter Entertainment in a report on Tuesday, July 8th. They issued a "buy" rating and a $380.00 price objective for the company. Needham & Company LLC raised their price objective on Flutter Entertainment from $340.00 to $355.00 and gave the company a "buy" rating in a report on Friday, August 8th. Finally, Macquarie raised their price objective on Flutter Entertainment from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of "Moderate Buy" and an average price target of $335.74.

Insiders Place Their Bets

In other Flutter Entertainment news, CEO Amy Howe sold 4,097 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at $21,367,813.50. This trade represents a 5.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Daniel Mark Taylor sold 15,283 shares of the firm's 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 owned 16,589 shares of the company's stock, valued at $4,724,547.20. This trade represents a 47.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,396 shares of company stock worth $6,759,745. Company insiders own 0.09% of the company's stock.

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.

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