California Public Employees Retirement System Sells 13,519 Shares of Flutter Entertainment PLC $FLUT

California Public Employees Retirement System lessened its holdings in Flutter Entertainment PLC (NYSE:FLUT) by 6.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 200,924 shares of the company’s stock after selling 13,519 shares during the period. California Public Employees Retirement System owned approximately 0.12% of Flutter Entertainment worth $20,484,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FLUT. MassMutual Private Wealth & Trust FSB raised its position in shares of Flutter Entertainment by 219.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock valued at $25,000 after buying an additional 79 shares in the last quarter. Zions Bancorporation National Association UT increased its stake in Flutter Entertainment by 1,685.7% during the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock worth $27,000 after acquiring an additional 118 shares during the last quarter. EFG International AG purchased a new stake in Flutter Entertainment during the fourth quarter valued at approximately $36,000. IFP Advisors Inc lifted its stake in shares of Flutter Entertainment by 93.8% in the 4th quarter. IFP Advisors Inc now owns 186 shares of the company’s stock valued at $40,000 after purchasing an additional 90 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in shares of Flutter Entertainment by 83.3% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock valued at $42,000 after purchasing an additional 75 shares during the last quarter.

Flutter Entertainment Stock Down 1.0%

Shares of FLUT opened at $99.94 on Thursday. The firm has a fifty day moving average price of $103.11 and a 200-day moving average price of $121.93. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $17.39 billion, a P/E ratio of -46.70, a P/E/G ratio of 1.35 and a beta of 1.31. Flutter Entertainment PLC has a 12-month low of $91.52 and a 12-month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.09 by $0.13. The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.59 EPS. Equities research analysts expect that Flutter Entertainment PLC will post 4.83 earnings per share for the current year.

Insider Activity

In other news, CEO Daniel Mark Taylor bought 1,611 shares of the stock in a transaction on Tuesday, May 12th. The stock was acquired at an average cost of $94.29 per share, for a total transaction of $151,901.19. Following the acquisition, the chief executive officer owned 34,584 shares of the company’s stock, valued at $3,260,925.36. This represents a 4.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeremy Peter Jackson sold 3,084 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $98.13, for a total value of $302,632.92. Following the transaction, the chief executive officer directly owned 74,326 shares in the company, valued at $7,293,610.38. The trade was a 3.98% 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. In the last ninety days, insiders have purchased 10,453 shares of company stock valued at $1,045,526 and have sold 5,994 shares valued at $577,293. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on FLUT shares. Stifel Nicolaus decreased their price target on Flutter Entertainment from $170.00 to $161.00 and set a “buy” rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $167.00 price objective on shares of Flutter Entertainment in a research report on Friday, May 8th. BNP Paribas Exane assumed coverage on shares of Flutter Entertainment in a research note on Thursday, May 14th. They issued an “underperform” rating and a $80.00 target price on the stock. Oppenheimer lowered their target price on shares of Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Finally, Freedom Capital raised shares of Flutter Entertainment to a “hold” rating in a research note on Monday, June 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.26.

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.