FLUT
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Another bite out of the float
Flutter Entertainment is back in the market buying its own stock, this time redeeming and canceling 1,798 ordinary shares on April 13 at a volume-weighted average price of $100.6980. Tiny number? Sure. But in buyback land, it’s the drumbeat that matters — not the single beat.
The bigger machine underneath
This repurchase is part of a fresh 10-week plan to buy back up to $250 million worth of shares, which itself rolls up into Flutter’s previously announced $5 billion buyback program from September 25, 2024. Translation: management is still in “we like our own stock” mode.
Why you should care
When a company keeps retiring shares, the remaining pie gets split into fewer slices. That can support earnings per share over time, and it can also telegraph confidence — or at least a sense that the cash has better use here than sitting on the sidelines.
The fine print-ish stuff
After this transaction, Flutter says it has 174,170,958 ordinary shares outstanding. Goldman Sachs & Co. LLC handled the repurchase, because of course this kind of thing doesn’t happen without a Wall Street middleman in the mix.
Big picture: buybacks don’t magically fix a business, but they do tell you management thinks the engine is still worth tuning up.