Teacher Retirement System of Texas Sells 159,526 Shares of Flutter Entertainment plc (NYSE:FLUT)

Teacher Retirement System of Texas cut its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 22.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 551,821 shares of the company’s stock after selling 159,526 shares during the period. Flutter Entertainment comprises approximately 0.5% of Teacher Retirement System of Texas’ investment portfolio, making the stock its 27th biggest position. Teacher Retirement System of Texas owned 0.31% of Flutter Entertainment worth $142,618,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of FLUT. Royal London Asset Management Ltd. lifted its holdings in shares of Flutter Entertainment by 1.2% in the fourth quarter. Royal London Asset Management Ltd. now owns 140,765 shares of the company’s stock worth $36,381,000 after acquiring an additional 1,655 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Flutter Entertainment during the 4th quarter worth approximately $25,000. Xponance Inc. lifted its stake in Flutter Entertainment by 7.8% in the 4th quarter. Xponance Inc. now owns 9,033 shares of the company’s stock valued at $2,335,000 after purchasing an additional 657 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in Flutter Entertainment in the fourth quarter valued at approximately $137,958,000. Finally, Signaturefd LLC grew its stake in shares of Flutter Entertainment by 2,280.0% during the fourth quarter. Signaturefd LLC now owns 357 shares of the company’s stock worth $92,000 after buying an additional 342 shares during the last quarter.

Insider Activity

In other Flutter Entertainment news, Director Jeremy Peter Jackson sold 25,027 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total value of $6,556,072.92. Following the transaction, the director now owns 21,148 shares of the company’s stock, valued at approximately $5,539,930.08. The trade was a 54.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amy Howe sold 11,814 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the completion of the transaction, the chief executive officer now directly owns 62,941 shares in the company, valued at $16,396,130.50. This trade represents a 15.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT opened at $241.61 on Thursday. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve month high of $299.73. The stock’s 50 day moving average is $263.77 and its 200-day moving average is $252.73. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $42.88 billion and a price-to-earnings ratio of 1,098.24.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Macquarie reissued an “outperform” rating and set a $340.00 price objective on shares of Flutter Entertainment in a report on Wednesday, March 5th. Susquehanna cut their price target on Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating on the stock in a research note on Wednesday, March 5th. The Goldman Sachs Group began coverage on Flutter Entertainment in a research note on Friday, November 22nd. They issued a “buy” rating and a $320.00 price objective for the company. UBS Group lifted their target price on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Finally, JMP Securities upped their price target on shares of Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a research report on Monday, January 6th. Nineteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Flutter Entertainment has a consensus rating of “Buy” and a consensus target price of $311.41.

Flutter Entertainment Company Profile

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.