Flutter Entertainment PLC $FLUT Shares Sold by Arizona State Retirement System

Arizona State Retirement System lessened its stake in shares of Flutter Entertainment PLC (NYSE:FLUT) by 12.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,871 shares of the company’s stock after selling 6,443 shares during the quarter. Arizona State Retirement System’s holdings in Flutter Entertainment were worth $9,864,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ORG Partners LLC raised its position in Flutter Entertainment by 43.0% during the third quarter. ORG Partners LLC now owns 143 shares of the company’s stock worth $36,000 after acquiring an additional 43 shares during the last quarter. MML Investors Services LLC boosted its stake in shares of Flutter Entertainment by 0.6% in the second quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock valued at $2,024,000 after purchasing an additional 45 shares during the period. OneDigital Investment Advisors LLC boosted its stake in shares of Flutter Entertainment by 1.2% in the third quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock valued at $1,030,000 after purchasing an additional 49 shares during the period. Versant Capital Management Inc boosted its stake in Flutter Entertainment by 5.6% during the 3rd quarter. Versant Capital Management Inc now owns 943 shares of the company’s stock valued at $240,000 after acquiring an additional 50 shares during the last quarter. Finally, Stratos Wealth Partners LTD. lifted its position in shares of Flutter Entertainment by 5.7% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company’s stock worth $273,000 after buying an additional 58 shares during the last quarter.

Insider Transactions at Flutter Entertainment

In other news, CEO Jeremy Peter Jackson sold 4,326 shares of Flutter Entertainment stock in a transaction that occurred on Wednesday, March 11th. The shares were 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 of the company’s stock, valued at $3,973,104. The trade was a 10.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Robert Coldrake sold 4,613 shares of Flutter Entertainment stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $106.45, for a total transaction of $491,053.85. Following the completion of the transaction, the chief financial officer directly owned 10,006 shares in the company, valued at $1,065,138.70. This represents a 31.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 17,834 shares of company stock valued at $1,900,331 in the last quarter. Insiders own 0.09% of the company’s stock.

Flutter Entertainment Stock Up 5.3%

Flutter Entertainment stock opened at $111.68 on Friday. The stock has a market cap of $19.48 billion, a price-to-earnings ratio of -62.04, a PEG ratio of 0.77 and a beta of 1.93. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.31. The company’s 50-day moving average price is $109.78 and its two-hundred day moving average price is $173.59. Flutter Entertainment PLC has a 52 week low of $98.88 and a 52 week high of $313.68.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Friday, February 27th. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.37). The company had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.87 billion. Flutter Entertainment had a negative net margin of 1.89% and a positive return on equity of 12.12%. The firm’s quarterly revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.94 EPS. On average, analysts expect that Flutter Entertainment PLC will post 5.14 EPS for the current fiscal year.

Flutter Entertainment declared that its board has authorized a stock repurchase program on Wednesday, March 11th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

FLUT has been the topic of several recent research reports. Kepler Capital Markets downgraded shares of Flutter Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Zacks Research downgraded shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Benchmark cut their price objective on shares of Flutter Entertainment from $285.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. UBS Group cut their price objective on shares of Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Finally, Moffett Nathanson cut shares of Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 target price on the stock. in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Flutter Entertainment has an average rating of “Moderate Buy” and an average target price of $209.29.

About Flutter Entertainment

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.