TimesSquare Capital Management LLC Buys New Stake in Flutter Entertainment PLC $FLUT

TimesSquare Capital Management LLC bought a new position in shares of Flutter Entertainment PLC (NYSE:FLUT) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 96,142 shares of the company’s stock, valued at approximately $27,474,000. TimesSquare Capital Management LLC owned about 0.05% of Flutter Entertainment at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PARUS FINANCE UK Ltd increased its position in Flutter Entertainment by 1.5% in the 1st quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company’s stock worth $742,000 after buying an additional 50 shares during the period. Parallel Advisors LLC grew its stake in shares of Flutter Entertainment by 44.9% in the second quarter. Parallel Advisors LLC now owns 197 shares of the company’s stock worth $56,000 after acquiring an additional 61 shares during the last quarter. Signaturefd LLC increased its position in Flutter Entertainment by 98.5% during the second quarter. Signaturefd LLC now owns 129 shares of the company’s stock worth $37,000 after acquiring an additional 64 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Flutter Entertainment by 5.6% during the 1st 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 during the last quarter. Finally, ORG Partners LLC raised its stake in 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 purchasing an additional 75 shares during the last quarter.

Flutter Entertainment Stock Performance

Flutter Entertainment stock opened at $231.78 on Wednesday. The firm has a market capitalization of $40.82 billion, a P/E ratio of 114.18 and a beta of 1.84. The stock has a fifty day moving average price of $258.33 and a two-hundred day moving average price of $269.22. Flutter Entertainment PLC has a 52-week low of $196.88 and a 52-week high of $313.68. 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 declared that its board has initiated a stock repurchase plan on Friday, August 8th that permits the company to repurchase $245.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have recently issued reports on FLUT shares. Oppenheimer dropped their price objective on shares of Flutter Entertainment from $350.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, October 14th. Macquarie boosted their price target on Flutter Entertainment from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Truist Financial reduced their price objective on Flutter Entertainment from $350.00 to $335.00 and set a “buy” rating for the company in a research report on Tuesday, October 21st. Needham & Company LLC lifted their price objective on Flutter Entertainment from $340.00 to $355.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Finally, Benchmark cut their target price on Flutter Entertainment from $365.00 to $310.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $330.47.

Insiders Place Their Bets

In other Flutter Entertainment news, CEO Amy Howe sold 4,097 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $305.91, for a total value of $1,253,313.27. Following the transaction, the chief executive officer directly owned 69,850 shares in the company, valued at approximately $21,367,813.50. This trade represents a 5.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeremy Peter Jackson sold 2,112 shares of Flutter Entertainment stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total value of $617,591.04. Following the completion of the sale, the chief executive officer directly owned 31,944 shares of the company’s stock, valued at $9,341,064.48. This trade represents a 6.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.09% of the stock is currently owned by insiders.

Flutter Entertainment 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.