Alliancebernstein L.P. Purchases 118,422 Shares of Flutter Entertainment PLC $FLUT

Alliancebernstein L.P. increased its position in shares of Flutter Entertainment PLC (NYSE:FLUT) by 10.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,240,066 shares of the company’s stock after acquiring an additional 118,422 shares during the period. Alliancebernstein L.P. owned about 0.71% of Flutter Entertainment worth $314,977,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 valued at $290,000 after purchasing an additional 69 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Flutter Entertainment during the second quarter worth about $405,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Flutter Entertainment in the second quarter valued at approximately $848,000. Allworth Financial LP increased its stake in shares of Flutter Entertainment by 116.4% in the second quarter. Allworth Financial LP now owns 145 shares of the company’s stock valued at $41,000 after buying an additional 78 shares during the period. Finally, Vise Technologies Inc. bought a new position in Flutter Entertainment in the 2nd quarter valued at approximately $355,000.

Flutter Entertainment News Roundup

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

• Positive Sentiment: Board authorizes buyback — The Board approved a $250 million share repurchase program (up to ~1.3% of shares), which reduces float and signals management thinks shares are undervalued; buybacks often support near-term stock demand. Flutter Entertainment (NYSE:FLUT) Announces Stock Buyback Program
• Positive Sentiment: Prediction markets & product investment — Management is expanding FanDuel Predicts and treating prediction markets as incremental TAM; company plans material investment to scale the product ahead of major sports seasons, which could drive revenue growth and engagement. 3 Stocks Betting Big on Prediction Markets This March Madness
• Positive Sentiment: Analyst/market write-ups lift valuation narrative — Recent commentary argues FLUT’s valuation has improved on updates and investor focus on scale/EBITDA could support multiple expansion if growth re-accelerates. Flutter Entertainment (NYSE:FLUT) Valuation Climbs Higher Following Latest Market Update
• Neutral Sentiment: Long-term opportunity debate — Commentary examines whether the recent multi-quarter share price decline creates a buy-the-dip chance; useful for investors weighing fundamentals vs. macro/sector headwinds. Has Flutter Entertainment (NYSE:FLUT) Share Price Slump Created A Long Term Opportunity?
• Neutral Sentiment: Director RSUs granted — The company issued restricted stock units to an independent director (standard governance/compensation action); modest dilution/expense but routine. Flutter grants RSUs to independent director Stefan Bomhard
• Negative Sentiment: Institutional trimming — Los Angeles-based Capital Group reduced its holding, a high-profile institutional seller that can pressure sentiment and indicate waning confidence from a major shareholder. Los Angeles fund Capital Group reduces Flutter Entertainment holding
• Negative Sentiment: Executive insider selling — Multiple senior executives disclosed large stock sales (CEO(s) and CFO reduced positions last week), which markets often view negatively even if sales are for diversification/liquidity. SEC Filing — Amy Howe Form 4

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. UBS Group cut their target price on shares of Flutter Entertainment from $320.00 to $300.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $228.00 price target (down from $248.00) on shares of Flutter Entertainment in a research note on Wednesday, January 14th. Barclays cut their price target on shares of Flutter Entertainment from $304.00 to $225.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. Zacks Research cut shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Finally, Citigroup restated an “outperform” rating on shares of Flutter Entertainment in a report on Monday, January 5th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $234.65.

Flutter Entertainment Stock Up 2.6%

Flutter Entertainment stock opened at $108.26 on Monday. The firm has a market cap of $18.98 billion, a price-to-earnings ratio of -60.14, a PEG ratio of 0.74 and a beta of 2.32. Flutter Entertainment PLC has a 52-week low of $99.96 and a 52-week high of $313.68. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a 50 day moving average price of $152.49 and a two-hundred day moving average price of $209.71.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings data on Thursday, February 26th. The company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.37). Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same quarter last year, the company earned $2.94 earnings per share. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. Equities analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment announced that its board has authorized a stock repurchase plan on Wednesday, March 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 4,326 shares of Flutter Entertainment stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $108.00, for a total value of $467,208.00. Following the completion of the sale, the chief executive officer directly owned 36,788 shares in the company, valued at approximately $3,973,104. The trade was a 10.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert Coldrake sold 4,613 shares of Flutter Entertainment stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $106.45, for a total value of $491,053.85. Following the completion of the sale, the chief financial officer owned 10,006 shares of the company’s stock, valued at approximately $1,065,138.70. The trade was a 31.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 17,834 shares of company stock valued at $1,900,331. 0.09% of the stock is currently owned by insiders.

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.