Eleva Capital SAS Takes $145.29 Million Position in Flutter Entertainment PLC $FLUT

Eleva Capital SAS acquired a new position in shares of Flutter Entertainment PLC (NYSE:FLUT) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 508,574 shares of the company’s stock, valued at approximately $145,285,000. Flutter Entertainment makes up about 31.3% of Eleva Capital SAS’s investment portfolio, making the stock its 2nd largest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. ORG Partners LLC lifted 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 worth $28,000 after buying an additional 75 shares during the last quarter. Barrett & Company Inc. bought a new position in Flutter Entertainment in the second quarter valued at about $29,000. SVB Wealth LLC bought a new position in Flutter Entertainment in the first quarter valued at about $27,000. Signaturefd LLC raised its position in Flutter Entertainment by 98.5% in the second quarter. Signaturefd LLC now owns 129 shares of the company’s stock valued at $37,000 after purchasing an additional 64 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in Flutter Entertainment by 44.9% in 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.

Insiders Place Their Bets

In related news, CEO Amy Howe sold 4,097 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $305.91, for a total transaction of $1,253,313.27. Following the completion of the sale, the chief executive officer owned 69,850 shares of the company’s stock, valued at $21,367,813.50. This trade represents a 5.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daniel Mark Taylor sold 15,283 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $284.80, for a total value of $4,352,598.40. Following the sale, the insider directly owned 16,589 shares of the company’s stock, valued at $4,724,547.20. This represents a 47.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 23,396 shares of company stock worth $6,759,745. Company insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

FLUT has been the subject of several research reports. Barclays increased their target price on Flutter Entertainment from $350.00 to $352.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Stifel Nicolaus dropped their target price on Flutter Entertainment from $356.00 to $339.00 and set a “buy” rating for the company in a research report on Monday, October 27th. Bank of America increased their target price on Flutter Entertainment from $295.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Needham & Company LLC increased their target price on Flutter Entertainment from $340.00 to $355.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Flutter Entertainment in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $334.95.

Flutter Entertainment Trading Up 0.7%

Shares of FLUT stock opened at $232.50 on Friday. The stock has a market cap of $40.94 billion, a price-to-earnings ratio of 114.53 and a beta of 1.91. The stock has a 50-day moving average of $269.48 and a 200-day moving average of $269.11. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95. Flutter Entertainment PLC has a 1-year low of $196.88 and a 1-year high of $313.68.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Thursday, August 7th. The company reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.87. The company had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The company’s revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

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

Flutter Entertainment Company Profile

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.