California Public Employees Retirement System Has $145.48 Million Stake in Flutter Entertainment PLC $FLUT

California Public Employees Retirement System increased its stake in shares of Flutter Entertainment PLC (NYSE:FLUT) by 101.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 572,770 shares of the company’s stock after purchasing an additional 288,922 shares during the quarter. California Public Employees Retirement System owned about 0.33% of Flutter Entertainment worth $145,484,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FLUT. Makena Capital Management LLC acquired a new position in shares of Flutter Entertainment during the third quarter valued at $11,517,000. TimesSquare Capital Management LLC increased its position in Flutter Entertainment by 294.1% in the third quarter. TimesSquare Capital Management LLC now owns 378,878 shares of the company’s stock worth $96,235,000 after purchasing an additional 282,736 shares during the period. AGF Management Ltd. acquired a new stake in Flutter Entertainment in the third quarter worth about $9,519,000. Mutual of America Capital Management LLC bought a new stake in Flutter Entertainment during the 3rd quarter worth about $2,173,000. Finally, Federated Hermes Inc. bought a new stake in Flutter Entertainment during the 3rd quarter worth about $169,777,000.

Flutter Entertainment Stock Performance

Shares of NYSE:FLUT opened at $108.26 on Monday. The firm’s 50 day simple moving average is $152.49 and its 200 day simple moving average is $209.71. Flutter Entertainment PLC has a fifty-two week low of $99.96 and a fifty-two week high of $313.68. The company has a market capitalization of $18.98 billion, a price-to-earnings ratio of -60.14, a P/E/G ratio of 0.74 and a beta of 2.32. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.95 and a quick ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Thursday, February 26th. The company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.37). Flutter Entertainment had a negative net margin of 1.89% and a positive return on equity of 12.12%. The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same quarter in the prior year, the firm posted $2.94 EPS. The firm’s revenue for the quarter was up 24.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its Board of Directors has approved a stock repurchase program on Wednesday, March 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Flutter Entertainment

In related news, CEO Amy Howe sold 8,895 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $105.91, for a total transaction of $942,069.45. Following the sale, the chief executive officer owned 78,889 shares of the company’s stock, valued at approximately $8,355,133.99. This trade represents a 10.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeremy Peter Jackson sold 4,326 shares of Flutter Entertainment stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $108.00, for a total value of $467,208.00. Following the transaction, the chief executive officer owned 36,788 shares in the company, valued at approximately $3,973,104. This represents a 10.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 17,834 shares of company stock valued at $1,900,331 over the last three months. 0.09% of the stock is currently owned by corporate insiders.

Flutter Entertainment News Roundup

Here are the key news stories impacting Flutter Entertainment this week:

• Positive Sentiment: Board authorizes buyback — The Board approved a $250 million share repurchase program (up to ~1.3% of shares), which reduces float and signals management thinks shares are undervalued; buybacks often support near-term stock demand. Flutter Entertainment (NYSE:FLUT) Announces Stock Buyback Program
• Positive Sentiment: Prediction markets & product investment — Management is expanding FanDuel Predicts and treating prediction markets as incremental TAM; company plans material investment to scale the product ahead of major sports seasons, which could drive revenue growth and engagement. 3 Stocks Betting Big on Prediction Markets This March Madness
• Positive Sentiment: Analyst/market write-ups lift valuation narrative — Recent commentary argues FLUT’s valuation has improved on updates and investor focus on scale/EBITDA could support multiple expansion if growth re-accelerates. Flutter Entertainment (NYSE:FLUT) Valuation Climbs Higher Following Latest Market Update
• Neutral Sentiment: Long-term opportunity debate — Commentary examines whether the recent multi-quarter share price decline creates a buy-the-dip chance; useful for investors weighing fundamentals vs. macro/sector headwinds. Has Flutter Entertainment (NYSE:FLUT) Share Price Slump Created A Long Term Opportunity?
• Neutral Sentiment: Director RSUs granted — The company issued restricted stock units to an independent director (standard governance/compensation action); modest dilution/expense but routine. Flutter grants RSUs to independent director Stefan Bomhard
• Negative Sentiment: Institutional trimming — Los Angeles-based Capital Group reduced its holding, a high-profile institutional seller that can pressure sentiment and indicate waning confidence from a major shareholder. Los Angeles fund Capital Group reduces Flutter Entertainment holding
• Negative Sentiment: Executive insider selling — Multiple senior executives disclosed large stock sales (CEO(s) and CFO reduced positions last week), which markets often view negatively even if sales are for diversification/liquidity. SEC Filing — Amy Howe Form 4

Analysts Set New Price Targets

Several brokerages have recently commented on FLUT. Truist Financial lowered their price target on shares of Flutter Entertainment from $260.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Citigroup restated an “outperform” rating on shares of Flutter Entertainment in a report on Monday, January 5th. Texas Capital raised shares of Flutter Entertainment to a “strong-buy” rating in a research note on Thursday, January 8th. Canaccord Genuity Group lowered their target price on shares of Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $228.00 target price (down from $248.00) on shares of Flutter Entertainment in a research report on Wednesday, January 14th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $234.65.

Flutter Entertainment Company 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.