The Canadian Imperial Bank of Commerce is the latest investor to take a punt on the world’s largest online gambling PLC after securing a 5.3% stake in Flutter Entertainment.
A filing to the London Stock Exchange this morning showed that the bank – one of Canada’s “Big Five” alongside the Royal Bank of Canada, Toronto-Dominion Bank, Bank of Montreal and Scotiabank – crossed the threshold on 15 May.
The bank did not have any previous holding in the business before that point, making it the latest to join a series of investors which have recently put faith in the dual-listed business.
Flutter, which is listed on both the London Stock Exchange and the New York Stock Exchange, has seen its investor makeup shift dramatically in the last few months.
Flutter’s changing investor mix
Outgoing FanDuel Chief Executive Officer, Amy Howe, sold off 4,711 of her Flutter shares via JPMorgan, while group CEO Peter Jackson increased his holdings in the company, and Chair John Bryant and Non-Executive Officer Stefan Bomhard bought more shares.
Asset management giant BlackRock recently upped its stake in the company to over 5% and Cayman Islands-domiciled billionaire Kenneth Dart increased his control to 27% last week.
Meanwhile, London-based activist investment fund Parvus Asset Management doubled its stake in Flutter to 10% two months ago; meanwhile Capital Group notably reduced its holding from 14.9% to 9.9%.
All of this movement has come in the midst of an ongoing 10-week $250m share buyback programme which began on 11 March, which is part of a broader $5bn buyback.
Flutter has seen its share price plummet in 2026, with shares dropping by over 55% so far this year to $96.36 at the time of writing.
That may well be the catalyst for the recent flurry of activity that has seen numerous investors up their share, as analysts revealed to SBC News last week that they remain bullish on the Ireland-headquartered firm’s trajectory, despite the dip.
Macquarie analysts have a target price of $190 for the business, citing its strong long-term cash flow potential and leading position across a plethora of international markets.
A potential London delisting is well and truly on the cards for Flutter, after the revelation that it was reviewing its position there came amid its Q1 results.
But the Canadian Imperial Bank of Commerce – like others mentioned – has clearly seen enough to warrant an investment in the business despite the several ongoing and upcoming headwinds.
