Public Employees Retirement System of Ohio Buys 7,790 Shares of Flutter Entertainment PLC $FLUT

Public Employees Retirement System of Ohio lifted its stake in Flutter Entertainment PLC (NYSE:FLUT) by 9.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 89,704 shares of the company’s stock after buying an additional 7,790 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Flutter Entertainment were worth $9,145,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Flutter Entertainment by 5.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock valued at $290,000 after acquiring an additional 69 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Flutter Entertainment during the second quarter valued at $405,000. Creative Planning bought a new position in shares of Flutter Entertainment during the second quarter valued at $296,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Flutter Entertainment by 246.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock valued at $53,000 after purchasing an additional 133 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Flutter Entertainment by 74.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock valued at $71,000 after purchasing an additional 106 shares in the last quarter.

Analyst Upgrades and Downgrades

FLUT has been the subject of a number of recent analyst reports. Moffett Nathanson cut shares of Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 target price for the company. in a research report on Friday, April 24th. BTIG Research reduced their price target on shares of Flutter Entertainment from $137.00 to $126.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Citizens Jmp decreased their price objective on shares of Flutter Entertainment from $165.00 to $159.00 and set a “market outperform” rating on the stock in a research note on Wednesday, July 8th. Needham & Company LLC dropped their price objective on shares of Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Finally, Zacks Research upgraded shares of Flutter Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $176.26.

Insider Buying and Selling

In other news, CEO Jeremy Peter Jackson sold 3,084 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $98.13, for a total transaction of $302,632.92. Following the sale, the chief executive officer directly owned 74,326 shares of the company’s stock, valued at $7,293,610.38. This represents a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO James Philip Bishop purchased 1,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average cost of $99.75 per share, with a total value of $99,750.00. Following the acquisition, the chief operating officer owned 17,605 shares of the company’s stock, valued at $1,756,098.75. This represents a 6.02% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders purchased 10,453 shares of company stock valued at $1,045,526 and sold 5,994 shares valued at $577,293. Insiders own 0.13% of the company’s stock.

Flutter Entertainment Stock Performance

Flutter Entertainment stock opened at $105.72 on Tuesday. The stock has a 50-day simple moving average of $103.60 and a 200 day simple moving average of $119.46. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. Flutter Entertainment PLC has a 12-month low of $91.52 and a 12-month high of $313.68. The stock has a market capitalization of $18.39 billion, a price-to-earnings ratio of -49.40, a P/E/G ratio of 1.39 and a beta of 1.31.

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 the consensus estimate of $1.09 by $0.13. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The business had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the company earned $1.59 EPS. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. On average, research analysts anticipate that Flutter Entertainment PLC will post 4.72 earnings per share for the current fiscal year.

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.