Employees Retirement System of Texas Buys 55,313 Shares of Flutter Entertainment PLC $FLUT

Employees Retirement System of Texas boosted its stake in shares of Flutter Entertainment PLC (NYSE:FLUT) by 26.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 262,000 shares of the company’s stock after purchasing an additional 55,313 shares during the quarter. Employees Retirement System of Texas’ holdings in Flutter Entertainment were worth $66,548,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. JFS Wealth Advisors LLC acquired a new stake in Flutter Entertainment in the 3rd quarter worth $27,000. JCIC Asset Management Inc. bought a new position in shares of Flutter Entertainment during the 3rd quarter worth about $32,000. Atlantic Union Bankshares Corp acquired a new position in shares of Flutter Entertainment during the third quarter valued at about $34,000. ORG Partners LLC lifted its stake in shares of Flutter Entertainment by 43.0% in the third quarter. ORG Partners LLC now owns 143 shares of the company’s stock valued at $36,000 after buying an additional 43 shares during the period. Finally, Allworth Financial LP lifted its stake in shares of Flutter Entertainment by 116.4% in the second quarter. Allworth Financial LP now owns 145 shares of the company’s stock valued at $41,000 after buying an additional 78 shares during the period.

Analyst Ratings Changes

Several equities analysts recently issued reports on FLUT shares. Morgan Stanley lowered their price target on Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, December 12th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $228.00 price objective (down from $248.00) on shares of Flutter Entertainment in a research report on Wednesday, January 14th. Benchmark decreased their price objective on Flutter Entertainment from $285.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Sanford C. Bernstein restated a “market perform” rating and set a $170.00 price objective on shares of Flutter Entertainment in a research report on Friday, February 6th. Finally, Citizens Jmp cut their target price on Flutter Entertainment from $275.00 to $195.00 and set a “market outperform” rating for the company in a research note on Friday, February 27th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $234.65.

Flutter Entertainment Stock Down 3.6%

NYSE FLUT opened at $105.64 on Friday. Flutter Entertainment PLC has a 1-year low of $99.96 and a 1-year high of $313.68. The company has a market capitalization of $18.52 billion, a price-to-earnings ratio of -58.69, a PEG ratio of 0.75 and a beta of 2.30. The stock’s 50 day moving average is $154.69 and its two-hundred day moving average is $212.34. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.31.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Thursday, February 26th. The company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.37). The company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.87 billion. Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.The company’s quarterly revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.94 earnings per share. Equities analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has initiated a share buyback plan on Wednesday, March 11th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.