California Public Employees Retirement System Lowers Stake in Flutter Entertainment PLC $FLUT

California Public Employees Retirement System lowered its stake in shares of Flutter Entertainment PLC (NYSE:FLUT) by 6.3% during the first quarter, Holdings Channel.com reports. The firm owned 200,924 shares of the company’s stock after selling 13,519 shares during the quarter. California Public Employees Retirement System’s holdings in Flutter Entertainment were worth $20,484,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FLUT. Cibc World Markets Corp purchased a new position in Flutter Entertainment during the 4th quarter worth $1,678,841,000. Hsbc Holdings PLC raised its position in Flutter Entertainment by 33,988.7% during the 1st quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock worth $575,185,000 after buying an additional 5,589,099 shares during the last quarter. Capital International Investors raised its holdings in shares of Flutter Entertainment by 146.8% during the fourth quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock worth $1,728,772,000 after purchasing an additional 4,782,302 shares during the last quarter. Norges Bank acquired a new position in shares of Flutter Entertainment in the 4th quarter valued at about $694,009,000. Finally, Durable Capital Partners LP boosted its position in Flutter Entertainment by 274.2% in the 3rd quarter. Durable Capital Partners LP now owns 1,243,988 shares of the company’s stock worth $315,973,000 after purchasing an additional 911,507 shares in the last quarter.

Insider Buying and Selling

In other Flutter Entertainment news, COO James Philip Bishop bought 1,000 shares of the stock in a transaction on Monday, May 11th. The shares were bought at an average price of $99.75 per share, with a total value of $99,750.00. Following the purchase, the chief operating officer directly owned 17,605 shares in the company, valued at $1,756,098.75. This trade represents a 6.02% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Don H. Liu bought 1,459 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were acquired at an average cost of $102.78 per share, with a total value of $149,956.02. Following the acquisition, the insider directly owned 22,265 shares of the company’s stock, valued at approximately $2,288,396.70. This represents a 7.01% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 10,453 shares of company stock worth $1,045,526 and have sold 5,994 shares worth $577,293. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FLUT shares. Stifel Nicolaus dropped their price target on shares of Flutter Entertainment from $170.00 to $161.00 and set a “buy” rating on the stock in a research report on Wednesday. Oppenheimer lowered their target price on shares of Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Truist Financial reduced their target price on Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Needham & Company LLC decreased their target price on Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. 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 given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Flutter Entertainment presently has an average rating of “Moderate Buy” and an average price target of $176.26.

Flutter Entertainment Price Performance

Shares of Flutter Entertainment stock opened at $99.94 on Thursday. The stock has a market capitalization of $17.39 billion, a P/E ratio of -46.70, a PEG ratio of 1.35 and a beta of 1.31. The business has a 50 day simple moving average of $103.11 and a two-hundred day simple moving average of $121.93. Flutter Entertainment PLC has a 12 month low of $91.52 and a 12 month high of $313.68. 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 (NYSE:FLUT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) 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 firm had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the company posted $1.59 earnings per share. The business’s revenue was up 17.4% on a year-over-year basis. As a group, analysts predict that Flutter Entertainment PLC will post 4.83 EPS for the current fiscal year.

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.