At Extreme Investor Network, we strive to provide our readers with unique and valuable insights into the world of investing. Today, we are excited to discuss ValueAct Capital’s recent unveiling of a stake in Flutter Entertainment, the parent company of sports betting firm FanDuel.
ValueAct Capital, led by Mason Morfit, reported a position of approximately 495,000 shares of Flutter, valued at around $78.1 million, according to a securities filing. While ValueAct is known for its activism in the investment world, there has been no public indication that the fund is pushing for specific changes at Flutter at this time.
Interestingly, ValueAct’s position in Flutter equates to less than 1% of the company’s shares outstanding, highlighting the hedge fund’s strategic investment approach. It is worth noting that ValueAct had previously held a position in The Stars Group, which was later acquired by Flutter in 2020.
One key point of interest is UBS’s reported stake in Flutter, signaling potential collaboration between the two investment firms. This partnership could indicate a longer-term interest in Flutter, according to Gordon Haskett analyst Don Bilson.
This news comes on the heels of Flutter listing its shares on the New York Stock Exchange earlier this year, with plans to make it the company’s primary listing by the end of May. This move is expected to enhance liquidity in the stock and attract more investors to the company.
In addition to Flutter, ValueAct made notable moves in the first quarter, including closing out positions in Seagate Technology Holdings and Paycom Software. For more information on ValueAct’s top holdings as of March 31, stay tuned to our updates on Extreme Investor Network.
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