Flutter Entertainment PLC $FLUT Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System trimmed its position in Flutter Entertainment PLC (NYSE:FLUT) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 260,427 shares of the company’s stock after selling 6,171 shares during the period. California State Teachers Retirement System’s holdings in Flutter Entertainment were worth $26,551,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Flutter Entertainment by 5.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock valued at $290,000 after acquiring an additional 69 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Flutter Entertainment during the second quarter worth about $405,000. Creative Planning acquired a new stake in Flutter Entertainment in the second quarter valued at about $296,000. Northwestern Mutual Wealth Management Co. lifted its position in Flutter Entertainment by 246.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock valued at $53,000 after purchasing an additional 133 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in Flutter Entertainment by 74.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock valued at $71,000 after purchasing an additional 106 shares in the last quarter.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT opened at $104.39 on Friday. The business’s 50 day simple moving average is $104.29 and its 200-day simple moving average is $117.08. The firm has a market capitalization of $18.16 billion, a price-to-earnings ratio of -48.78, a price-to-earnings-growth ratio of 1.43 and a beta of 1.31. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. Flutter Entertainment PLC has a 12 month low of $91.52 and a 12 month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The business had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the prior year, the firm posted $1.59 EPS. The company’s revenue was up 17.4% compared to the same quarter last year. As a group, equities analysts forecast that Flutter Entertainment PLC will post 4.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on FLUT. Benchmark dropped their target price on Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. BNP Paribas Exane initiated coverage on Flutter Entertainment in a report on Thursday, May 14th. They issued an “underperform” rating and a $80.00 price target for the company. Moffett Nathanson downgraded Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price target on the stock. in a research note on Friday, April 24th. Freedom Capital raised Flutter Entertainment to a “hold” rating in a report on Monday, June 22nd. Finally, Truist Financial dropped their price objective on Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Flutter Entertainment currently has an average rating of “Moderate Buy” and an average price target of $176.00.

Insider Activity at Flutter Entertainment

In other news, CEO Daniel Mark Taylor bought 1,611 shares of the stock in a transaction on Tuesday, May 12th. The shares were bought at an average price of $94.29 per share, with a total value of $151,901.19. Following the completion of the acquisition, the chief executive officer owned 34,584 shares of the company’s stock, valued at approximately $3,260,925.36. This trade represents a 4.89% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Don H. Liu sold 1,259 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $93.37, for a total value of $117,552.83. Following the completion of the transaction, the insider owned 21,006 shares of the company’s stock, valued at approximately $1,961,330.22. This represents a 5.65% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders bought 10,453 shares of company stock valued at $1,045,526 and sold 5,994 shares valued at $577,293. 0.13% of the stock is owned by company insiders.

Flutter Entertainment Profile

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company’s primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter’s brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.