Dorsal Capital Management LP Sells 125,000 Shares of Flutter Entertainment PLC $FLUT

Dorsal Capital Management LP lessened its position in shares of Flutter Entertainment PLC (NYSE:FLUT) by 23.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 400,000 shares of the company’s stock after selling 125,000 shares during the period. Flutter Entertainment makes up about 2.7% of Dorsal Capital Management LP’s portfolio, making the stock its 15th largest holding. Dorsal Capital Management LP’s holdings in Flutter Entertainment were worth $101,600,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Makena Capital Management LLC purchased a new position in Flutter Entertainment in the third quarter worth $11,517,000. TimesSquare Capital Management LLC lifted its holdings in shares of Flutter Entertainment by 294.1% during the 3rd quarter. TimesSquare Capital Management LLC now owns 378,878 shares of the company’s stock valued at $96,235,000 after purchasing an additional 282,736 shares during the last quarter. AGF Management Ltd. purchased a new stake in shares of Flutter Entertainment during the 3rd quarter valued at $9,519,000. Mutual of America Capital Management LLC acquired a new stake in shares of Flutter Entertainment in the 3rd quarter worth $2,173,000. Finally, Federated Hermes Inc. purchased a new position in Flutter Entertainment during the 3rd quarter worth $169,777,000.

Key Stories Impacting Flutter Entertainment

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 Price Performance

Shares of NYSE:FLUT opened at $108.26 on Friday. Flutter Entertainment PLC has a twelve month low of $99.96 and a twelve month high of $313.68. The company’s 50 day moving average is $152.49 and its 200 day moving average is $210.38. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.31. The company has a market cap of $18.98 billion, a PE ratio of -60.14, a price-to-earnings-growth ratio of 0.74 and a beta of 2.30.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings results on Thursday, February 26th. The company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the prior year, the business posted $2.94 earnings per share. The business’s quarterly revenue was up 24.9% compared to the same quarter last year. On average, sell-side analysts forecast that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment announced that its board has approved a stock repurchase program on Wednesday, March 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Benchmark reduced their target price on Flutter Entertainment from $285.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Canaccord Genuity Group dropped their price target on Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Morgan Stanley cut their price objective on shares of Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating on the stock in a report on Friday, December 12th. Oppenheimer lowered their target price on shares of Flutter Entertainment from $280.00 to $210.00 and set an “outperform” rating for the company in a research note on Thursday, February 26th. Finally, Susquehanna reissued a “positive” rating and set a $228.00 target price on shares of Flutter Entertainment in a research report on Tuesday, January 27th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $234.65.

Insider Buying and Selling

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 4,326 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $108.00, for a total value of $467,208.00. Following the sale, the chief executive officer directly owned 36,788 shares of the company’s stock, valued at approximately $3,973,104. This represents a 10.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert Coldrake sold 4,613 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $106.45, for a total value of $491,053.85. Following the sale, the chief financial officer directly owned 10,006 shares in the company, valued at $1,065,138.70. This represents a 31.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 17,834 shares of company stock valued at $1,900,331 over the last 90 days. Insiders own 0.09% of the company’s stock.

Flutter Entertainment 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.