Public Employees Retirement System of Ohio Cuts Holdings in Flutter Entertainment plc (NYSE:FLUT)

Public Employees Retirement System of Ohio trimmed its holdings in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 11.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,311 shares of the company's stock after selling 4,642 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Flutter Entertainment were worth $9,388,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FLUT. Seelaus Asset Management LLC boosted its holdings in Flutter Entertainment by 6.4% in the fourth quarter. Seelaus Asset Management LLC now owns 914 shares of the company's stock valued at $236,000 after acquiring an additional 55 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Flutter Entertainment by 585.7% in the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock worth $25,000 after purchasing an additional 82 shares during the period. IFP Advisors Inc boosted its stake in shares of Flutter Entertainment by 244.1% in the 4th quarter. IFP Advisors Inc now owns 117 shares of the company's stock valued at $31,000 after purchasing an additional 83 shares during the last quarter. State of Wyoming boosted its stake in shares of Flutter Entertainment by 19.1% in the 4th quarter. State of Wyoming now owns 536 shares of the company's stock valued at $139,000 after purchasing an additional 86 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Flutter Entertainment during the fourth quarter worth $25,000.

Insider Transactions at Flutter Entertainment

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the 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 completion of the sale, the director now directly owns 21,148 shares of the company's stock, valued at approximately $5,539,930.08. This represents a 54.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO James Philip Bishop sold 3,000 shares of the firm's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $243.20, for a total value of $729,600.00. Following the transaction, the chief operating officer now owns 4,712 shares in the company, valued at approximately $1,145,958.40. This trade represents a 38.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,156 shares of company stock valued at $10,926,922 over the last three months.

Flutter Entertainment Stock Up 0.7%

Shares of FLUT traded up $1.83 during trading hours on Wednesday, reaching $247.05. The stock had a trading volume of 1,154,561 shares, compared to its average volume of 1,876,747. The firm has a 50-day simple moving average of $234.84 and a 200 day simple moving average of $254.58. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $299.73. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $43.65 billion and a price-to-earnings ratio of 85.48.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.30). Flutter Entertainment had a negative return on equity of 4.52% and a negative net margin of 6.86%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the previous year, the company posted $0.10 EPS. The business's quarterly revenue was up 7.9% on a year-over-year basis. Equities research analysts predict that Flutter Entertainment plc will post 4.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FLUT shares. BTIG Research dropped their target price on shares of Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Macquarie reissued an "outperform" rating and issued a $340.00 price objective (up from $330.00) on shares of Flutter Entertainment in a research report on Thursday, May 8th. Benchmark restated a "buy" rating and set a $300.00 target price on shares of Flutter Entertainment in a research report on Monday, April 21st. Truist Financial decreased their target price on Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company lifted their target price on Flutter Entertainment from $285.00 to $300.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Twenty analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $306.28.

Flutter Entertainment 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.