Arizona State Retirement System Has $4.09 Million Holdings in Flutter Entertainment PLC $FLUT

Arizona State Retirement System lessened its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT) by 11.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,002 shares of the company’s stock after selling 5,419 shares during the quarter. Arizona State Retirement System’s holdings in Flutter Entertainment were worth $4,087,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. AlphaGrep UK Ltd acquired a new stake in shares of Flutter Entertainment during the second quarter worth approximately $203,000. TD Waterhouse Canada Inc. increased its stake in Flutter Entertainment by 65.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 630 shares of the company’s stock valued at $67,000 after buying an additional 250 shares during the period. CTC Alternative Strategies Ltd. acquired a new position in Flutter Entertainment in the 2nd quarter valued at approximately $235,000. Public Employees Retirement System of Ohio acquired a new position in Flutter Entertainment in the 2nd quarter valued at approximately $9,881,000. Finally, Parvus Asset Management Jersey Ltd purchased a new stake in Flutter Entertainment in the 2nd quarter worth approximately $1,552,097,267.

Analyst Ratings Changes

A number of brokerages have issued reports on FLUT. New Street Research set a $110.00 target price on shares of Flutter Entertainment in a research note on Thursday, September 3rd. Benchmark dropped their price target on shares of Flutter Entertainment from $132.00 to $113.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Wall Street Zen lowered Flutter Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Wolfe Research began coverage on Flutter Entertainment in a research report on Wednesday, September 2nd. They set an “outperform” rating and a $150.00 price objective for the company. Finally, BTIG Research lowered their target price on Flutter Entertainment from $120.00 to $113.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $156.88.

Flutter Entertainment Stock Performance

FLUT stock opened at $100.58 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $17.46 billion, a price-to-earnings ratio of -23.39, a P/E/G ratio of 2.50 and a beta of 1.26. Flutter Entertainment PLC has a 12 month low of $89.71 and a 12 month high of $289.60. The firm has a 50 day moving average of $102.16 and a two-hundred day moving average of $103.89.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%.The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.95 earnings per share. As a group, equities analysts anticipate that Flutter Entertainment PLC will post 3.48 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jeremy Jackson sold 1,762 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total value of $172,429.32. Following the completion of the sale, the chief executive officer directly owned 70,452 shares in the company, valued at approximately $6,894,432.72. The trade was a 2.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Robert Coldrake sold 710 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total value of $69,480.60. Following the transaction, the chief financial officer owned 22,778 shares in the company, valued at approximately $2,229,055.08. This trade represents a 3.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 6,681 shares of company stock valued at $644,214. 0.13% of the stock is owned by corporate insiders.

About Flutter Entertainment

Flutter Entertainment plc is a global sports betting and online gaming company headquartered in Dublin, Ireland. The company provides customers with sports wagering, casino, poker, bingo and other gaming products through digital platforms, retail betting shops and other distribution channels.

Flutter’s portfolio includes brands such as FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, PokerStars internationally, Sky Betting & Gaming, Sisal and tombola.