PointState Capital LP Sells 260,497 Shares of Flutter Entertainment PLC $FLUT

PointState Capital LP reduced its stake in shares of Flutter Entertainment PLC (NYSE:FLUT) by 32.4% in the 1st quarter, Holdings Channel reports. The firm owned 544,704 shares of the company’s stock after selling 260,497 shares during the quarter. Flutter Entertainment accounts for 1.7% of PointState Capital LP’s investment portfolio, making the stock its 15th largest holding. PointState Capital LP’s holdings in Flutter Entertainment were worth $120,679,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. GPS Wealth Strategies Group LLC raised its position 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 during the last quarter. SVB Wealth LLC bought a new position in Flutter Entertainment during the 1st quarter worth $27,000. Parallel Advisors LLC raised its position in Flutter Entertainment by 78.9% during the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company’s stock worth $30,000 after purchasing an additional 60 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in Flutter Entertainment during the 4th quarter worth $33,000. Finally, Harbor Investment Advisory LLC raised its position in shares of Flutter Entertainment by 43.8% in the 1st quarter. Harbor Investment Advisory LLC now owns 184 shares of the company’s stock worth $41,000 after acquiring an additional 56 shares in the last quarter.

Flutter Entertainment Stock Performance

Shares of Flutter Entertainment stock opened at $295.19 on Friday. Flutter Entertainment PLC has a one year low of $196.88 and a one year high of $313.68. The firm has a market capitalization of $51.98 billion, a price-to-earnings ratio of 145.41, a PEG ratio of 1.42 and a beta of 2.29. The business has a 50-day simple moving average of $296.23 and a 200 day simple moving average of $263.61. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results 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 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 analyst estimates of $3.06 billion. Flutter Entertainment’s revenue was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has approved a share repurchase program on Friday, August 8th that authorizes the company to buyback $245.00 million in shares. This buyback authorization authorizes the company to purchase up to 0.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

FLUT has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on Flutter Entertainment in a research report on Tuesday, July 8th. They issued a “buy” rating and a $380.00 price objective for the company. Benchmark reissued a “buy” rating and issued a $365.00 price objective (up from $300.00) on shares of Flutter Entertainment in a research report on Friday, August 8th. Bank of America lifted their price objective on Flutter Entertainment from $295.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. JMP Securities lifted their price objective on Flutter Entertainment from $323.00 to $345.00 and gave the stock a “market outperform” rating in a research report on Friday, August 8th. Finally, Stifel Nicolaus lifted their price objective on Flutter Entertainment from $353.00 to $356.00 and gave the stock a “buy” rating in a research report 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $332.70.

Insider Transactions at Flutter Entertainment

In related news, insider James Philip Bishop sold 1,904 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $281.64, for a total value of $536,242.56. Following the completion of the sale, the insider directly owned 4,712 shares of the company’s stock, valued at $1,327,087.68. The trade was a 28.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Amy Howe sold 4,097 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $305.91, for a total value of $1,253,313.27. Following the sale, the chief executive officer directly owned 69,850 shares of the company’s stock, valued at $21,367,813.50. This represents a 5.54% 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 valued at $6,759,745. 0.09% of the stock is currently owned by corporate insiders.

Flutter Entertainment Company 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.