L1 Capital Pty Ltd Buys Shares of 138,851 Flutter Entertainment PLC $FLUT

L1 Capital Pty Ltd bought a new stake in Flutter Entertainment PLC (NYSE:FLUT) during the fourth quarter, HoldingsChannel.com reports. The firm bought 138,851 shares of the company’s stock, valued at approximately $29,859,000. Flutter Entertainment comprises about 1.6% of L1 Capital Pty Ltd’s investment portfolio, making the stock its 12th largest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MML Investors Services LLC grew its holdings in shares of Flutter Entertainment by 0.6% during the second quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock worth $2,024,000 after purchasing an additional 45 shares during the last quarter. OneDigital Investment Advisors LLC grew its holdings in shares of Flutter Entertainment by 1.2% during the third quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock worth $1,030,000 after purchasing an additional 49 shares during the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Flutter Entertainment by 5.7% during the third quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company’s stock worth $273,000 after purchasing an additional 58 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Flutter Entertainment by 5.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after purchasing an additional 69 shares during the last quarter. Finally, Truist Financial Corp grew its holdings in shares of Flutter Entertainment by 2.8% during the fourth quarter. Truist Financial Corp now owns 2,602 shares of the company’s stock worth $560,000 after purchasing an additional 72 shares during the last quarter.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $110.73 on Friday. The company has a fifty day moving average of $103.24 and a 200-day moving average of $143.84. The firm has a market capitalization of $19.26 billion, a P/E ratio of -51.74, a P/E/G ratio of 1.43 and a beta of 1.40. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. Flutter Entertainment PLC has a twelve month low of $91.52 and a twelve month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.13. The company had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. Flutter Entertainment’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.59 EPS. As a group, sell-side analysts anticipate that Flutter Entertainment PLC will post 5 EPS for the current year.

Flutter Entertainment declared that its Board of Directors has authorized a share repurchase program on Wednesday, March 11th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Don H. Liu sold 1,259 shares of Flutter Entertainment stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $93.37, for a total value of $117,552.83. Following the completion of the sale, the insider owned 21,006 shares in the company, valued at $1,961,330.22. The trade was a 5.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Daniel Mark Taylor acquired 1,611 shares of the stock in a transaction dated Tuesday, May 12th. The stock was bought at an average price of $94.29 per share, with a total value of $151,901.19. Following the purchase, the chief executive officer directly owned 34,584 shares in the company, valued at $3,260,925.36. This represents a 4.89% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 10,453 shares of company stock worth $1,045,526 and have sold 5,994 shares worth $577,293. 0.13% of the stock is owned by insiders.

More Flutter Entertainment News

Here are the key news stories impacting Flutter Entertainment this week:

• Positive Sentiment: Flutter said it will delist from the London Stock Exchange in August and concentrate all trading in New York, a move aimed at lowering costs and simplifying its listing structure. WSJ article
• Positive Sentiment: Investors are also encouraged by World Cup-related optimism, with several reports highlighting Flutter as a potential beneficiary of a betting surge during the tournament and management expecting very strong customer activity. Barron’s article
• Positive Sentiment: Flutter was also mentioned alongside other stocks that could benefit from the World Cup betting boom, reinforcing the market’s view that the company has a major near-term catalyst in its FanDuel-led U.S. business. Invezz article
• Neutral Sentiment: Other coverage focused on the mechanics of the delisting, including the final London trading date and the company’s shift to a sole New York venue, which is important strategically but not a direct earnings update. Proactive Investors article
• Neutral Sentiment: Market commentary before the open also noted Flutter’s delisting news among broader headlines, helping keep the stock in focus with investors. Investopedia article
• Negative Sentiment: Some coverage framed the London exit as another setback for U.K. markets, which could create a modest reputational overhang even though the move is intended to benefit Flutter shareholders. Guardian article

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. UBS Group reduced their price target on Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Moffett Nathanson cut Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price target on the stock. in a report on Friday, April 24th. Sanford C. Bernstein reduced their price target on Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating on the stock in a report on Thursday, May 7th. BTIG Research reduced their price target on Flutter Entertainment from $137.00 to $126.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Finally, Benchmark reduced their target price on Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.57.

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company’s primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter’s brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.