Flutter Entertainment PLC $FLUT Stake Raised by Senator Investment Group LP

Senator Investment Group LP grew its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT) by 19.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 256,290 shares of the company’s stock after buying an additional 41,686 shares during the period. Flutter Entertainment accounts for about 3.0% of Senator Investment Group LP’s investment portfolio, making the stock its 11th biggest holding. Senator Investment Group LP owned 0.15% of Flutter Entertainment worth $56,781,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. GPS Wealth Strategies Group LLC raised its holdings in Flutter Entertainment by 1,375.0% during the first 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. Parallel Advisors LLC raised its holdings in Flutter Entertainment by 78.9% during the first quarter. Parallel Advisors LLC now owns 136 shares of the company’s stock worth $30,000 after purchasing an additional 60 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in Flutter Entertainment during the fourth quarter worth approximately $33,000. TD Waterhouse Canada Inc. bought a new stake in Flutter Entertainment during the fourth quarter worth approximately $36,000. Finally, Harbor Investment Advisory LLC raised its holdings in Flutter Entertainment by 43.8% during the first quarter. Harbor Investment Advisory LLC now owns 184 shares of the company’s stock worth $41,000 after purchasing an additional 56 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. UBS Group reaffirmed a “buy” rating and issued a $360.00 price target (up previously from $340.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Jefferies Financial Group assumed coverage on Flutter Entertainment in a report on Tuesday, July 8th. They issued a “buy” rating and a $380.00 price target on the stock. Barclays upped their price target on Flutter Entertainment from $350.00 to $352.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Needham & Company LLC upped their price target on Flutter Entertainment from $340.00 to $355.00 and gave the company a “buy” rating in a report on Friday, August 8th. Finally, Stifel Nicolaus upped their price target on Flutter Entertainment from $353.00 to $356.00 and gave the company a “buy” rating in a report on Friday, August 8th. Three investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $328.62.

Flutter Entertainment Stock Up 0.3%

Flutter Entertainment stock opened at $294.05 on Tuesday. The firm has a market cap of $51.78 billion, a price-to-earnings ratio of 144.85, a P/E/G ratio of 1.22 and a beta of 2.31. 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 PLC has a fifty-two week low of $196.88 and a fifty-two week high of $313.68. The firm has a fifty day moving average price of $288.17 and a two-hundred day moving average price of $261.18.

Flutter Entertainment (NYSE:FLUT) last released its earnings results 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 firm 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% on a year-over-year basis. As a group, analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

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

Insider Buying and Selling at Flutter Entertainment

In other news, Director Nancy Cruickshank sold 281 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total transaction of $69,044.51. Following the completion of the transaction, the director owned 1,797 shares of the company’s stock, valued at approximately $441,540.87. This represents a 13.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carolan Lennon sold 430 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total transaction of $105,655.30. Following the transaction, the director directly owned 769 shares of the company’s stock, valued at $188,950.99. This represents a 35.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,642 shares of company stock valued at $5,490,473 in the last three months. Company 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.