Bridger Management LLC Sells 4,182 Shares of Flutter Entertainment PLC $FLUT

Bridger Management LLC trimmed its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT) by 14.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,484 shares of the company’s stock after selling 4,182 shares during the quarter. Flutter Entertainment comprises about 4.1% of Bridger Management LLC’s holdings, making the stock its 12th largest position. Bridger Management LLC’s holdings in Flutter Entertainment were worth $6,997,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. PARUS FINANCE UK Ltd grew its holdings in shares of Flutter Entertainment by 1.5% during the first quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company’s stock worth $742,000 after purchasing an additional 50 shares in the last quarter. Parallel Advisors LLC lifted its position in Flutter Entertainment by 44.9% during the second quarter. Parallel Advisors LLC now owns 197 shares of the company’s stock valued at $56,000 after purchasing an additional 61 shares during the last quarter. Signaturefd LLC grew its stake in Flutter Entertainment by 98.5% in the 2nd quarter. Signaturefd LLC now owns 129 shares of the company’s stock worth $37,000 after buying an additional 64 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Flutter Entertainment by 5.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after buying an additional 69 shares during the last quarter. Finally, ORG Partners LLC raised its position in shares of Flutter Entertainment by 300.0% during the 2nd quarter. ORG Partners LLC now owns 100 shares of the company’s stock valued at $28,000 after buying an additional 75 shares in the last quarter.

Insider Transactions at Flutter Entertainment

In other Flutter Entertainment news, CEO Amy Howe sold 4,097 shares of the business’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $305.91, for a total value of $1,253,313.27. Following the transaction, the chief executive officer owned 69,850 shares in the company, valued at approximately $21,367,813.50. The trade was a 5.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Macquarie upped their target price on shares of Flutter Entertainment from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. JMP Securities dropped their price target on Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating for the company in a research note on Wednesday, October 1st. Stifel Nicolaus reduced their price objective on Flutter Entertainment from $339.00 to $330.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Citigroup cut Flutter Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Canaccord Genuity Group cut their target price on Flutter Entertainment from $340.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $319.22.

Flutter Entertainment Price Performance

Shares of Flutter Entertainment stock opened at $190.69 on Tuesday. 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 one year low of $190.56 and a one year high of $313.68. The business’s 50 day simple moving average is $251.39 and its two-hundred day simple moving average is $268.28. The stock has a market capitalization of $33.42 billion, a P/E ratio of 93.93 and a beta of 1.84.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Wednesday, November 12th. The company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 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 $3.79 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the prior year, the firm posted $1.27 earnings per share. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. Analysts forecast that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment announced that its board has initiated a stock buyback program on Friday, August 8th that allows the company to repurchase $245.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.