Magnetar Financial LLC Purchases New Position in Flutter Entertainment PLC $FLUT

Magnetar Financial LLC acquired a new stake in Flutter Entertainment PLC (NYSE:FLUT) in the first quarter, according to its most recent filing with the SEC. The fund acquired 26,823 shares of the company’s stock, valued at approximately $5,943,000.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Flutter Entertainment by 326.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,243 shares of the company’s stock valued at $742,000 after purchasing an additional 2,483 shares in the last quarter. Whalen Wealth Management Inc. bought a new position in Flutter Entertainment in the 1st quarter worth about $380,000. Rubicon Global Capital Ltd grew its holdings in Flutter Entertainment by 56.1% during the 1st quarter. Rubicon Global Capital Ltd now owns 70,250 shares of the company’s stock valued at $15,564,000 after buying an additional 25,250 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Flutter Entertainment by 0.6% during the first quarter. Bessemer Group Inc. now owns 397,297 shares of the company’s stock valued at $88,021,000 after buying an additional 2,478 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Flutter Entertainment by 1.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company’s stock worth $1,060,000 after buying an additional 67 shares in the last quarter.

Analysts Set New Price Targets

FLUT has been the subject of several recent analyst reports. Oppenheimer boosted their price objective on shares of Flutter Entertainment from $310.00 to $350.00 and gave the company an “outperform” rating in a research note on Tuesday, July 22nd. Citigroup restated a “buy” rating on shares of Flutter Entertainment in a research report on Thursday, August 14th. Macquarie upped their price target on shares of Flutter Entertainment from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Truist Financial lifted their price objective on Flutter Entertainment from $280.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Finally, Zacks Research upgraded Flutter Entertainment from a “strong sell” rating to a “hold” rating in a research report on Friday, August 15th. Twenty analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $332.70.

Flutter Entertainment Stock Down 0.3%

Shares of NYSE:FLUT opened at $307.73 on Friday. The firm has a market capitalization of $54.19 billion, a PE ratio of 151.59, a price-to-earnings-growth ratio of 1.50 and a beta of 2.31. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current 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 fifty day moving average of $293.72 and a 200 day moving average of $263.35.

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

Flutter Entertainment declared that its Board of Directors has initiated a share buyback plan on Friday, August 8th that authorizes the company to buyback $245.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 0.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Flutter Entertainment news, insider Daniel Mark Taylor sold 15,283 shares of the company’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 value of $4,352,598.40. Following the completion of the sale, the insider owned 16,589 shares of the company’s stock, valued at $4,724,547.20. This represents a 47.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christine M. Mccarthy sold 264 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $244.12, for a total transaction of $64,447.68. Following the transaction, the director owned 559 shares in the company, valued at $136,463.08. The trade was a 32.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,851 shares of company stock worth $7,361,377 over the last ninety days. Corporate insiders own 0.09% of the company’s stock.

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.