Teacher Retirement System of Texas Sells 62,975 Shares of Flutter Entertainment PLC $FLUT

Teacher Retirement System of Texas trimmed its position in Flutter Entertainment PLC (NYSE:FLUT) by 21.1% in the 3rd quarter, Holdings Channel reports. The firm owned 235,599 shares of the company’s stock after selling 62,975 shares during the quarter. Teacher Retirement System of Texas’ holdings in Flutter Entertainment were worth $59,842,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of FLUT. Bank of New York Mellon Corp increased its stake in Flutter Entertainment by 120.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 454,660 shares of the company’s stock worth $129,924,000 after acquiring an additional 248,109 shares during the last quarter. Parvus Asset Management Jersey Ltd purchased a new position in shares of Flutter Entertainment during the second quarter worth about $2,231,266,000. Massachusetts Financial Services Co. MA increased its position in shares of Flutter Entertainment by 2.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,864,681 shares of the company’s stock worth $727,629,000 after purchasing an additional 68,186 shares during the last quarter. Gunderson Capital Management Inc. raised its stake in Flutter Entertainment by 17.8% in the second quarter. Gunderson Capital Management Inc. now owns 15,646 shares of the company’s stock valued at $4,471,000 after purchasing an additional 2,364 shares in the last quarter. Finally, Corton Capital Inc. bought a new stake in Flutter Entertainment during the second quarter valued at approximately $556,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on FLUT shares. Wells Fargo & Company reissued an “equal weight” rating and set a $228.00 price objective (down from $248.00) on shares of Flutter Entertainment in a report on Wednesday, January 14th. Stifel Nicolaus lowered their price objective on shares of Flutter Entertainment from $339.00 to $330.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Canaccord Genuity Group reduced their target price on shares of Flutter Entertainment from $340.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Bank of America lowered their price target on shares of Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Citigroup reaffirmed an “outperform” rating on shares of Flutter Entertainment in a research note on Monday, January 5th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $289.81.

Flutter Entertainment Price Performance

FLUT stock opened at $181.17 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.27. The firm’s 50-day moving average price is $208.00 and its two-hundred day moving average price is $251.89. The stock has a market capitalization of $31.74 billion, a price-to-earnings ratio of -139.36 and a beta of 1.88. Flutter Entertainment PLC has a 12-month low of $179.01 and a 12-month high of $313.68.

About Flutter Entertainment

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.