Flutter Entertainment PLC $FLUT Stock Position Increased by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its position in Flutter Entertainment PLC (NYSE:FLUT) by 21.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 285,133 shares of the company’s stock after buying an additional 49,534 shares during the quarter. Teacher Retirement System of Texas’ holdings in Flutter Entertainment were worth $61,315,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of FLUT. MassMutual Private Wealth & Trust FSB raised its stake in shares of Flutter Entertainment by 219.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock worth $25,000 after buying an additional 79 shares in the last quarter. JFS Wealth Advisors LLC bought a new stake in shares of Flutter Entertainment in the 3rd quarter worth $27,000. JCIC Asset Management Inc. acquired a new position in shares of Flutter Entertainment in the 3rd quarter worth $32,000. Atlantic Union Bankshares Corp acquired a new position in shares of Flutter Entertainment in the 3rd quarter worth $34,000. Finally, ORG Partners LLC grew its holdings in shares of Flutter Entertainment by 43.0% in the 3rd 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.

Insider Activity

In other news, CFO Robert Coldrake sold 4,613 shares of Flutter Entertainment stock in a transaction 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 transaction, the chief financial officer owned 10,006 shares in the company, valued at approximately $1,065,138.70. The trade was a 31.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Amy Howe sold 8,895 shares of Flutter Entertainment stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $105.91, for a total value of $942,069.45. Following the transaction, the chief executive officer owned 78,889 shares in the company, valued at $8,355,133.99. This represents a 10.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 17,834 shares of company stock worth $1,900,331. 0.09% of the stock is owned by corporate insiders.

Flutter Entertainment Stock Performance

Shares of FLUT stock opened at $106.68 on Thursday. Flutter Entertainment PLC has a 1-year low of $98.88 and a 1-year high of $313.68. 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 has a market capitalization of $18.61 billion, a price-to-earnings ratio of -59.27, a P/E/G ratio of 0.79 and a beta of 1.93. The stock’s fifty day simple moving average is $110.75 and its 200-day simple moving average is $175.46.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Friday, February 27th. The company reported $1.74 earnings per share 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 business had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter in the prior year, the firm posted $2.94 EPS. The business’s quarterly revenue was up 24.9% compared to the same quarter last year. On average, sell-side analysts predict that Flutter Entertainment PLC will post 5.14 earnings per share for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has authorized a share repurchase plan on Wednesday, March 11th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to buy up to 1.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FLUT shares. Barclays decreased their target price on Flutter Entertainment from $225.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, April 16th. Craig Hallum cut Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a report on Wednesday, January 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Flutter Entertainment in a report on Monday, December 29th. Kepler Capital Markets cut Flutter Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Finally, BTIG Research decreased their target price on Flutter Entertainment from $180.00 to $177.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Flutter Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $213.40.

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.