Fernbridge Capital Management LP Decreases Stake in Flutter Entertainment PLC $FLUT

Fernbridge Capital Management LP trimmed its position in shares of Flutter Entertainment PLC (NYSE:FLUT) by 43.2% during the third quarter, Holdings Channel reports. The institutional investor owned 178,577 shares of the company’s stock after selling 135,890 shares during the quarter. Flutter Entertainment comprises about 2.2% of Fernbridge Capital Management LP’s portfolio, making the stock its 13th largest holding. Fernbridge Capital Management LP’s holdings in Flutter Entertainment were worth $45,359,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Flutter Entertainment by 5.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after acquiring an additional 69 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Flutter Entertainment in the 2nd quarter valued at approximately $405,000. Savant Capital LLC purchased a new stake in shares of Flutter Entertainment in the 2nd quarter valued at approximately $909,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Flutter Entertainment in the 2nd quarter valued at $848,000. Finally, Allworth Financial LP lifted its position in shares of Flutter Entertainment by 116.4% during the 2nd quarter. Allworth Financial LP now owns 145 shares of the company’s stock worth $41,000 after purchasing an additional 78 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Zacks Research downgraded shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Craig Hallum cut Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a research report on Wednesday, January 21st. Texas Capital upgraded Flutter Entertainment to a “strong-buy” rating in a report on Thursday, January 8th. HSBC raised Flutter Entertainment from a “hold” rating to a “buy” rating and cut their target price for the stock from $265.00 to $228.00 in a research report on Monday, November 24th. Finally, UBS Group decreased their target price on Flutter Entertainment from $320.00 to $300.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $234.65.

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

Flutter Entertainment Stock Performance

NYSE FLUT opened at $108.26 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.95 and a quick ratio of 0.95. Flutter Entertainment PLC has a 1 year low of $99.96 and a 1 year high of $313.68. The company has a market capitalization of $18.98 billion, a PE ratio of -60.14, a P/E/G ratio of 0.72 and a beta of 2.30. The company has a fifty day moving average of $152.49 and a two-hundred day moving average of $211.01.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Thursday, February 26th. The company reported $1.74 earnings per share (EPS) 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 analysts’ expectations of $4.87 billion. During the same period in the previous year, the business posted $2.94 EPS. The business’s revenue for the quarter was up 24.9% compared to the same quarter last year. As a group, analysts expect that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its Board of Directors has authorized a share buyback program on Wednesday, March 11th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, 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 transaction of $491,053.85. Following the transaction, the chief financial officer owned 10,006 shares of the company’s stock, valued at $1,065,138.70. The trade was a 31.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Amy Howe sold 8,895 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $105.91, for a total value of $942,069.45. Following the completion of the sale, the chief executive officer owned 78,889 shares of the company’s stock, valued at approximately $8,355,133.99. This represents a 10.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 17,834 shares of company stock valued at $1,900,331 in the last three months. 0.09% of the stock is currently owned by company 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.