Eleva Capital SAS Makes New $145.29 Million Investment in Flutter Entertainment PLC $FLUT

Eleva Capital SAS purchased a new position in shares of Flutter Entertainment PLC (NYSE:FLUT) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 508,574 shares of the company’s stock, valued at approximately $145,285,000. Flutter Entertainment comprises about 31.3% of Eleva Capital SAS’s investment portfolio, making the stock its 2nd biggest position. Eleva Capital SAS owned about 0.29% of Flutter Entertainment at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in FLUT. SVB Wealth LLC acquired a new position in shares of Flutter Entertainment during the 1st quarter worth approximately $27,000. ORG Partners LLC increased 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 purchasing an additional 75 shares during the last quarter. Barrett & Company Inc. acquired a new position in shares of Flutter Entertainment during the 2nd quarter worth approximately $29,000. Signaturefd LLC increased its position in shares of Flutter Entertainment by 98.5% during the 2nd quarter. Signaturefd LLC now owns 129 shares of the company’s stock worth $37,000 after purchasing an additional 64 shares during the last quarter. Finally, CWM LLC increased its position in shares of Flutter Entertainment by 59.6% during the 1st quarter. CWM LLC now owns 217 shares of the company’s stock worth $48,000 after purchasing an additional 81 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FLUT shares. JMP Securities lowered their price target on Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating on the stock in a research report on Wednesday, October 1st. Citigroup reissued a “buy” rating on shares of Flutter Entertainment in a report on Thursday, August 14th. Stifel Nicolaus decreased their target price on Flutter Entertainment from $356.00 to $339.00 and set a “buy” rating on the stock in a report on Monday, October 27th. Canaccord Genuity Group boosted their target price on Flutter Entertainment from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Finally, Truist Financial decreased their target price on Flutter Entertainment from $350.00 to $335.00 and set a “buy” rating on the stock in a report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $334.95.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT opened at $232.50 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. The stock’s fifty day moving average price is $269.48 and its two-hundred day moving average price is $269.11. Flutter Entertainment PLC has a one year low of $196.88 and a one year high of $313.68. The firm has a market cap of $40.94 billion, a price-to-earnings ratio of 114.53 and a beta of 1.91.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Thursday, August 7th. The company reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.08 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 $4.19 billion for the quarter, compared to analyst estimates of $3.06 billion. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment announced that its board has authorized a share repurchase plan on Friday, August 8th that authorizes the company to buyback $245.00 million in shares. This buyback authorization authorizes the company to repurchase up to 0.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Flutter Entertainment

In other news, insider James Philip Bishop sold 1,904 shares of the company’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $281.64, for a total transaction of $536,242.56. Following the completion of the sale, the insider directly owned 4,712 shares in the company, valued at approximately $1,327,087.68. This represents a 28.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Amy Howe sold 4,097 shares of the company’s stock in a transaction on 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 sale, the chief executive officer owned 69,850 shares of the company’s stock, valued at approximately $21,367,813.50. The trade was a 5.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 23,396 shares of company stock valued at $6,759,745. Corporate insiders own 0.09% of the company’s stock.

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.