Pallas Capital Advisors LLC Purchases New Position in Flutter Entertainment PLC $FLUT

Pallas Capital Advisors LLC purchased a new stake in shares of Flutter Entertainment PLC (NYSE:FLUT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,088 shares of the company’s stock, valued at approximately $311,000.

A number of other hedge funds also recently bought and sold shares of FLUT. Massachusetts Financial Services Co. MA boosted its position in Flutter Entertainment by 5.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,230,587 shares of the company’s stock valued at $715,737,000 after acquiring an additional 167,621 shares in the last quarter. Egerton Capital UK LLP boosted its position in Flutter Entertainment by 16.9% during the 1st quarter. Egerton Capital UK LLP now owns 2,193,794 shares of the company’s stock valued at $486,035,000 after acquiring an additional 316,411 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Flutter Entertainment by 196.5% during the 1st quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company’s stock valued at $441,916,000 after acquiring an additional 1,322,016 shares in the last quarter. Deutsche Bank AG boosted its position in Flutter Entertainment by 52.2% during the 1st quarter. Deutsche Bank AG now owns 1,849,769 shares of the company’s stock valued at $409,816,000 after acquiring an additional 634,497 shares in the last quarter. Finally, Amundi boosted its position in Flutter Entertainment by 77.3% during the 1st quarter. Amundi now owns 1,421,434 shares of the company’s stock valued at $309,332,000 after acquiring an additional 619,625 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FLUT. Kepler Capital Markets raised Flutter Entertainment to a “strong-buy” rating in a research report on Thursday, August 28th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Flutter Entertainment in a research report on Friday, August 8th. Hsbc Global Res raised Flutter Entertainment to a “hold” rating in a research report on Wednesday, June 18th. Barclays boosted their price target on Flutter Entertainment from $350.00 to $352.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Finally, Truist Financial boosted their price target on Flutter Entertainment from $280.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $332.70.

Flutter Entertainment Price Performance

Shares of NYSE FLUT opened at $284.72 on Monday. Flutter Entertainment PLC has a twelve month low of $196.88 and a twelve month high of $313.68. The firm has a market cap of $50.14 billion, a P/E ratio of 140.26 and a beta of 2.30. The company has a 50 day moving average of $296.37 and a 200 day moving average of $264.33. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data 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. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company 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% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, research analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment declared that its board has authorized a stock repurchase plan on Friday, August 8th that permits the company to buyback $245.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, insider James Philip Bishop sold 1,904 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $281.64, for a total value of $536,242.56. Following the completion of the transaction, the insider directly owned 4,712 shares in the company, valued at $1,327,087.68. The trade was a 28.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Mark Taylor sold 15,283 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $284.80, for a total value of $4,352,598.40. Following the transaction, the insider directly owned 16,589 shares in the company, valued at $4,724,547.20. The trade was a 47.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,396 shares of company stock valued at $6,759,745 in the last quarter. 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.