Core Insights - Flutter Entertainment is the world leader in online sports betting and igaming, with 13.9 million average monthly players globally in 2024 [1] - The company has a market cap of $33.8 billion and reported $15.43 billion in revenue over the past four quarters [2] - The online sports betting market is projected to grow from $53.78 billion in 2023 to $93.31 billion by 2030, reflecting a five-year CAGR of 11.65% [4] Company Performance - Flutter's stock has seen a significant decline, dropping 37% since late August and 25% year-to-date, attributed to increased investment spending, regulatory changes, and unfavorable sporting event outcomes [7] - In Q3 2025, Flutter reported revenue of $3.79 billion, a 17% year-over-year increase, and adjusted EPS of $1.64, exceeding analyst expectations [8] - As of September 30, Flutter had $1.73 billion in cash and liquid assets [8] Analyst Recommendations - Analyst Trey Bowers from Wells Fargo maintains an optimistic long-term outlook for Flutter, citing its strong market position and cash generation capabilities [9] - Bowers rates Flutter shares as Overweight (Buy) with a price target of $272, indicating a potential upside of 41% [9] - Flutter has a Strong Buy consensus rating based on 24 recent analyst reviews, with an average target price of $311.43, suggesting a one-year gain of 61% [10] Industry Trends - The online sports betting sector is experiencing rapid growth, leading to a shift in investor sentiment away from traditional casino companies [4] - Sportradar, a key player in the sports tech industry, provides essential data services for the online betting market, enhancing engagement and betting activities [12] - Sportradar's revenue for Q3 2025 was €292 million, up 14.5% year-over-year, with a profit of €22 million [14]

Core Insights - Flutter Entertainment plc (NYSE:FLUT) is experiencing a competitive environment for account openings, leading to a decline in stock performance despite being a strong company [1] - The company reported mixed earnings, with soft revenue attributed to adverse gambling outcomes, but higher than expected earnings [1] - Flutter is expanding into the predictions market with the launch of FanDuel Predicts in partnership with the CME Group [1] Company Overview - Flutter Entertainment operates well-known brands in sports betting and online gaming, including FanDuel, PokerStars, Betfair, and Paddy Power [1] - The company is navigating a challenging market environment characterized by intense competition [1] Financial Performance - The latest earnings report indicated soft revenue due to unfavorable gambling outcomes [1] - Despite the revenue challenges, Flutter achieved higher than expected earnings [1] Strategic Initiatives - Flutter is entering the predictions market, similar to recent moves by competitors like DraftKings [1] - The launch of FanDuel Predicts is set for next month, indicating a proactive approach to market expansion [1]

Core Insights - Institutional investors, such as Vanguard Group, provide valuable insights through their 13F filings, revealing significant investment moves and strategies [1][2] - Vanguard's recent $4.9 billion investment in Flutter Entertainment indicates a strong belief in the company's potential despite its current stock decline [3][4] Company Overview - Flutter Entertainment is a leader in online sports betting and iGaming, with a diverse portfolio including brands like FanDuel, Paddy Power, and PokerStars [4][5] - The company holds a 43% market share in the U.S. gross gaming revenue, significantly outperforming competitors like DraftKings [4] - Flutter operates in 22 U.S. states for sportsbooks and has a strong presence in the U.K., Ireland, Australia, and Italy, generating over $14.8 billion in annual revenues [5] Market Position and Growth Potential - The ongoing regulation of online gambling in various regions, including Brazil and potential U.S. expansions, positions Flutter favorably for future growth [6] - The company's scale and ability to cross-sell across its brands enhance its competitive edge in the market [6] Stock Performance and Challenges - Despite its market leadership, Flutter's stock has declined significantly, down 26% from its 52-week high, attributed to broader economic pressures affecting consumer spending [4][7] - The decline in stock price raises questions about whether this presents a buying opportunity or indicates deeper issues within the company [4]

Core Insights - Flutter Entertainment will release its third quarter 2025 update on November 12, 2025, after market close [1] - A conference call will be held on the same day at 4:30 p.m. EST to discuss the results and answer questions [2] - Flutter is a leading online sports betting and iGaming operator with a strong market position in the US and globally [3] Company Overview - Flutter operates a diverse portfolio of brands including FanDuel, Sky Betting & Gaming, Sportsbet, PokerStars, Paddy Power, and others [4] - The company aims to leverage its size and innovative mindset to drive long-term growth and promote sustainability through its Positive Impact Plan [3] Investor Information - Analysts and investors can participate in the conference call by dialing specific numbers and using conference ID 20251 [3] - A public audio webcast of the call will be available for those unable to attend live, with a replay accessible approximately one hour after the call concludes [2]

Core Viewpoint - Flutter Entertainment plc is recognized for its strong profitability outlook and is included in the list of stocks expected to double in value over the next five years [1]. Financial Performance - Flutter Entertainment is valued at $49 billion and reported a robust second-quarter 2025 performance, achieving a 15.63% year-over-year revenue growth to $14.89 billion and an EBITDA of $2.2 billion [3]. - The company's diversified portfolio and strong margins support sustained revenue and earnings growth, instilling confidence in both current performance and future upside potential [4]. Market Position and Strategy - JMP Securities reaffirmed its Market Outperform rating on Flutter with a price objective of $345, highlighting the company's solid fundamentals and resilience against competitive pressures [2]. - Flutter is expanding its FanDuel operations in the United States while enhancing its international presence in markets such as Italy and Brazil [2]. - Innovations like the "Your Way" parlay mix and entry into prediction markets, along with strategic acquisitions, further bolster Flutter's long-term growth trajectory [3]. Brand Portfolio - Flutter operates a diverse range of brands including FanDuel, PokerStars, Paddy Power, Sportsbet, Betfair, and TVG, positioning itself as a significant player in the sports betting and gaming industry across multiple regions including the U.S., UK, Ireland, and Australia [4].

Core Viewpoint - Growth stocks are regaining popularity among investors due to decreased market volatility and optimism surrounding artificial intelligence and economic conditions, with the S&P 500 recovering all losses from previous trade tariff shocks [2][3] Group 1: Market Trends - The Cboe Volatility Index has decreased from a peak of 60 in April to 17, indicating market stabilization [2] - U.S. small-cap equities have slightly outperformed European counterparts, with the S&P 500 increasing by 7% in the last quarter [3] - Weekly inflows into U.S. stock funds reached approximately $58 billion, marking a year-to-date high and reflecting strong investor demand [3] Group 2: Investment Methodology - The evaluation of companies for potential doubling in value over the next five years is based on current-year EPS growth, five-year EPS growth, and hedge fund sentiment [5] - Hedge fund sentiment is gauged using Q2 2025 13F filings from over 900 hedge funds, focusing on companies with significant earnings growth and growing institutional interest [5] Group 3: Featured Stocks Flutter Entertainment plc (NYSE:FLUT) - Flutter has 87 hedge fund holders, with an EPS growth this year of 3,498.60% and expected 5-year EPS growth of 154.77% [7] - The company reported a strong Q2 2025 performance with 15.63% year-over-year revenue growth to $14.89 billion and EBITDA of $2.2 billion [10] - Flutter is expanding its operations in the U.S. and strengthening its international positions, supported by innovations and strategic acquisitions [9][11] Carvana Co. (NYSE:CVNA) - Carvana has 91 hedge fund holders, with an EPS growth this year of 216.91% and expected 5-year EPS growth of 51.40% [12] - The company raised its price target to $425, citing strong fundamentals and market share expansion despite facing challenges [13] - Carvana operates an online marketplace for buying and selling used automobiles, offering various services including financing and logistics [14] EQT Corporation (NYSE:EQT) - EQT has 96 hedge fund holders, with an EPS growth this year of 609.89% and expected 5-year EPS growth of 51.40% [15] - The company announced the sale of GlobalConnect, expected to be valued at approximately €8 billion, reinforcing its growth potential [16] - EQT produces and transmits natural gas and liquids in the Appalachian Basin, benefiting from favorable pricing conditions and strong financial health [17]

Core Viewpoint - Flutter Entertainment plc has announced a share repurchase program with a maximum consideration of up to $245 million, aimed at reducing its share capital [1][2]. Group 1: Buyback Details - The buyback will commence on October 1, 2025, and conclude no later than December 31, 2025 [2]. - This buyback represents the fourth tranche of a multi-year share repurchase program totaling up to $5 billion, with an expected return of approximately $1 billion to shareholders in 2025 [2]. - Davy Securities UC will execute the buyback independently, with a maximum acquisition of 17,674,003 ordinary shares, adjusted for previous tranches [3]. Group 2: Regulatory Compliance - The buyback will adhere to U.S. Securities Exchange Act rules and EU Market Abuse Regulation, ensuring compliance with legal standards [4]. Group 3: Future Considerations - Future buyback decisions will depend on the ongoing assessment of the company's capital needs and market conditions [5]. Group 4: Company Overview - Flutter is recognized as the world's leading online sports betting and iGaming operator, with a diverse portfolio of brands including FanDuel, PokerStars, and Paddy Power [7][8].

Core Insights - Flutter Entertainment reported strong Q2 2025 results, with adjusted EPS at $2.95, exceeding the $2.24 consensus, and GAAP revenue at $4.187 billion, surpassing the $4.13 billion estimate [1][2] - The company upgraded its full-year 2025 guidance for revenue and adjusted EBITDA, reflecting robust growth, particularly in the U.S. and key international markets [1][11] Financial Performance - Adjusted EPS (Non-GAAP) was $2.95, a 45% increase year-over-year from $2.04 [2] - GAAP revenue reached $4.19 billion, a 16% increase from $3.61 billion in Q2 2024 [2] - Adjusted EBITDA was $919 million, up 24.5% from $738 million [2] - Free Cash Flow (Non-GAAP) was $156 million, down 9% compared to Q2 2024 [2][10] Market Expansion and Strategic Focus - Flutter operates leading brands in online sports betting and gaming across over 100 countries, focusing on scale, geographic reach, and proprietary technology [3] - The company has prioritized market expansion, regulatory compliance, and technological innovation, completing significant acquisitions in Italy and Brazil [4] U.S. Market Performance - U.S. revenue increased by 17%, with segment revenues from sports betting operations at $1.79 billion [5] - U.S. adjusted EBITDA rose 54% to $400 million, driven by a 42% increase in iGaming revenue [5] International Operations - International segment revenue grew by 15%, with Flutter holding a 30.2% share of the online market in Italy and a 144% revenue increase in Brazil [6] - iGaming revenues rose 27% internationally [6] Challenges and Regulatory Environment - GAAP net income dropped 88% year-over-year due to non-cash charges and higher tax expenses [7] - The company faces regulatory challenges, including a new wager fee in Illinois and evolving gambling laws in the U.K., Ireland, Brazil, and India [9] Future Outlook - Management raised FY2025 revenue guidance to $17.26 billion and adjusted EBITDA to $3.295 billion, with U.S. revenue expected to reach $7.58 billion [11] - Investors will monitor the integration of recent acquisitions, regulatory impacts, and the company's balance sheet leverage [12]

Core Viewpoint - Flutter Entertainment is set to release its second quarter 2025 update on August 7, 2025, after market close, with all related materials available on its website [1] Group 1: Financial Update - The second quarter 2025 update will be released at 4:05 p.m. EDT (9:05 p.m. BST) on August 7, 2025 [1] - A conference call will be held on the same day at 4:30 p.m. EDT (9:30 p.m. BST) to review the results and answer questions [2] Group 2: Participation Details - Analysts and investors can participate in the live conference call by dialing specific numbers and using conference ID 20251, with a recommendation to join 10 minutes early [3] Group 3: Company Overview - Flutter is recognized as the world's leading online sports betting and iGaming operator, with a strong market position in the US and globally [3] - The company aims to leverage its size and innovative mindset to drive long-term growth while promoting sustainability through its Positive Impact Plan [3] Group 4: Brand Portfolio - Flutter operates a diverse portfolio of well-known online sports betting and iGaming brands, including FanDuel, Sky Betting & Gaming, Sportsbet, PokerStars, Paddy Power, and others [4]

Core Viewpoint - Flutter Entertainment plc has announced the launch of a third tranche of its share repurchase program, with a maximum consideration of up to $225 million on the New York Stock Exchange [1][2]. Group 1: Share Repurchase Program - The Buyback will commence on July 1, 2025, and conclude no later than September 30, 2025, aimed at reducing Flutter's share capital [2]. - This Buyback is part of a multi-year share repurchase program totaling up to $5 billion, initially announced on September 25, 2024, with an expected return of approximately $1 billion to shareholders in 2025 [2]. - Davy Securities Unlimited Company will conduct the Buyback independently, with a maximum of 17,739,905 ordinary shares to be acquired, adjusted for shares bought in previous tranches [3]. Group 2: Regulatory Compliance - The Buyback will adhere to U.S. Securities Exchange Act rules and EU Market Abuse Regulation, ensuring compliance with legal standards [4]. - Repurchased shares will be cancelled following the Buyback [4]. Group 3: Future Considerations - Future buyback decisions will depend on ongoing assessments of the company's capital needs and general market conditions [5]. Group 4: Company Overview - Flutter is recognized as the world's leading online sports betting and iGaming operator, with a diverse portfolio of brands including FanDuel, PokerStars, and Paddy Power [7][8]. - The company aims to leverage its scale and competitive advantages to foster long-term growth and sustainability [7].