Flutter Entertainment (FLUT)

• Market cap: $47.1B
• 1 day: 1.32%
• 5 days: -4.03%
• 1 month: 0.54%
• 3 months: 14.20%
• 6 months: 39.07%
• Year to date: 28.85%
• 1 year: 28.85%
• 5 years: 28.85%
• 10 years: 28.85%
• Sector: Information Technology
• Industry: Computer Programming, Data Processing, Etc.

About: In 2016, Irish company Paddy Power merged with UK firm Betfair to form online gaming operator Flutter Entertainment. Today, Flutter has the top digital revenue share in the us, UK and Ireland, Australia, and many other countries. Some of its main brands are FanDuel in the us, Sky Betting & Gaming and Paddy Power in the UK and Ireland, Sportsbet (acquired by Paddy Power in 2009) in Australia, and Sisal in Italy. As of Dec. 31, 2023, the company offered products in over 100 countries and had 12.3 million average monthly users. In 2023, sports betting was 56% of revenue, online gaming 39%, and fantasy sports, horse racing, and other 5%.

Employees: 23,009

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

667% more call options, than puts

Call options by funds: $612M | Put options by funds: $79.7M

226% more first-time investments, than exits

New positions opened: 140 | Existing positions closed: 43

82% more funds holding in top 10

Funds holding in top 10: 17 [Q2] → 31 (+14) [Q3]

46% more repeat investments, than reductions

Existing positions increased: 121 | Existing positions reduced: 83

42% more capital invested

Capital invested by funds: $24.8B [Q2] → $35.1B (+$10.3B) [Q3]

34% more funds holding

Funds holding: 282 [Q2] → 379 (+97) [Q3]

15.29% more ownership

Funds ownership: 67.52% [Q2] → 82.82% (+15.29%) [Q3]

Research analyst outlook

13 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $275 4% upside
• Avg. target: $306 16% upside
• High target: $350 32% upside

13 analyst ratings

• positive: 13 100%
• neutral: 0 0%
• negative: 0 0%

Macquarie Chad Beynon 60% 1-year accuracy 24 / 40 met price target	28% upside $340	Outperform Initiated	11 Dec 2024
UBS Ben Shelley 50% 1-year accuracy 1 / 2 met price target	21% upside $320	Buy Maintained	26 Nov 2024
Goldman Sachs Ben Andrews 0% 1-year accuracy 0 / 1 met price target	21% upside $320	Buy Initiated	22 Nov 2024
Needham Bernie McTernan 68% 1-year accuracy 90 / 132 met price target	13% upside $300	Buy Maintained	13 Nov 2024
Wells Fargo Daniel Politzer 60% 1-year accuracy 32 / 53 met price target	13% upside $300	Overweight Maintained	13 Nov 2024