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

Arizona State Retirement System trimmed its position in Flutter Entertainment PLC (NYSE:FLUT) by 11.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,002 shares of the company’s stock after selling 5,419 shares during the period. Arizona State Retirement System’s holdings in Flutter Entertainment were worth $4,087,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in FLUT. Zions Bancorporation National Association UT raised its stake in shares of Flutter Entertainment by 1,685.7% in the 4th quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock worth $27,000 after buying an additional 118 shares in the last quarter. EFG International AG bought a new position in Flutter Entertainment during the fourth quarter valued at about $36,000. IFP Advisors Inc boosted its stake in Flutter Entertainment by 93.8% during the fourth quarter. IFP Advisors Inc now owns 186 shares of the company’s stock valued at $40,000 after buying an additional 90 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in Flutter Entertainment by 83.3% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock worth $42,000 after acquiring an additional 75 shares during the period. Finally, LM Advisors LLC acquired a new position in Flutter Entertainment during the fourth quarter worth about $46,000.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FLUT. Zacks Research downgraded shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Flutter Entertainment in a research note on Thursday, September 3rd. Deutsche Bank Aktiengesellschaft set a $148.00 target price on shares of Flutter Entertainment in a report on Thursday, August 6th. Benchmark cut their target price on shares of Flutter Entertainment from $132.00 to $113.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, Stifel Nicolaus reduced their target price on shares of Flutter Entertainment from $161.00 to $133.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $156.88.

Flutter Entertainment Trading Up 1.9%

NYSE:FLUT opened at $100.58 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.32. Flutter Entertainment PLC has a 1-year low of $89.71 and a 1-year high of $289.60. The firm has a market capitalization of $17.46 billion, a price-to-earnings ratio of -23.39, a price-to-earnings-growth ratio of 2.50 and a beta of 1.26. The stock has a fifty day simple moving average of $102.16 and a 200 day simple moving average of $103.89.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%.The company had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the prior year, the business posted $2.95 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Sell-side analysts forecast that Flutter Entertainment PLC will post 3.48 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Robert Coldrake sold 710 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total value of $69,480.60. Following the completion of the transaction, the chief financial officer owned 22,778 shares of the company’s stock, valued at approximately $2,229,055.08. This trade represents a 3.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO James Bishop sold 741 shares of Flutter Entertainment stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total transaction of $72,514.26. Following the transaction, the chief operating officer owned 16,864 shares in the company, valued at approximately $1,650,311.04. The trade was a 4.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 6,681 shares of company stock valued at $644,214 over the last 90 days. 0.13% of the stock is owned by corporate insiders.

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and online gaming company headquartered in Dublin, Ireland. The company provides customers with sports wagering, casino, poker, bingo and other gaming products through digital platforms, retail betting shops and other distribution channels.

Flutter’s portfolio includes brands such as FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, PokerStars internationally, Sky Betting & Gaming, Sisal and tombola.