State of New Jersey Common Pension Fund D Has $17.16 Million Stock Position in Flutter Entertainment PLC $FLUT

State of New Jersey Common Pension Fund D trimmed its position in Flutter Entertainment PLC (NYSE:FLUT) by 1.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,046 shares of the company’s stock after selling 804 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Flutter Entertainment were worth $17,159,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. SVB Wealth LLC acquired a new stake in shares of Flutter Entertainment in the first quarter worth $27,000. ORG Partners LLC raised its stake in Flutter Entertainment by 300.0% during the 2nd quarter. ORG Partners LLC now owns 100 shares of the company’s stock valued at $28,000 after purchasing an additional 75 shares during the last quarter. Barrett & Company Inc. acquired a new position in Flutter Entertainment during the 2nd quarter valued at $29,000. Signaturefd LLC raised its stake in Flutter Entertainment by 98.5% during the 2nd quarter. Signaturefd LLC now owns 129 shares of the company’s stock valued at $37,000 after purchasing an additional 64 shares during the last quarter. Finally, CWM LLC raised its stake in Flutter Entertainment by 59.6% during the 1st quarter. CWM LLC now owns 217 shares of the company’s stock valued at $48,000 after purchasing an additional 81 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms recently commented on FLUT. Oppenheimer cut their target price on shares of Flutter Entertainment from $350.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, October 14th. Stifel Nicolaus upped their target price on shares of Flutter Entertainment from $353.00 to $356.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Needham & Company LLC upped their target price on shares of Flutter Entertainment from $340.00 to $355.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Kepler Capital Markets upgraded shares of Flutter Entertainment to a “strong-buy” rating in a research note on Thursday, August 28th. Finally, Jefferies Financial Group began coverage on shares of Flutter Entertainment in a research note on Tuesday, July 8th. They set a “buy” rating and a $380.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $336.00.

Flutter Entertainment Trading Down 2.9%

Shares of Flutter Entertainment stock opened at $244.09 on Friday. The firm has a market capitalization of $42.98 billion, a PE ratio of 120.24 and a beta of 1.91. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. The company’s fifty day moving average price is $275.32 and its two-hundred day moving average price is $268.73. Flutter Entertainment PLC has a 52-week low of $196.88 and a 52-week high of $313.68.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings results on Thursday, August 7th. The company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.87. The firm had revenue of $4.19 billion for the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment announced that its Board of Directors has initiated a share repurchase program on Friday, August 8th that permits the company to buyback $245.00 million in shares. This buyback authorization permits the company to buy up to 0.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, insider James Philip Bishop sold 1,904 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $281.64, for a total transaction of $536,242.56. Following the completion of the sale, the insider owned 4,712 shares in the company, valued at $1,327,087.68. This trade represents a 28.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total transaction of $617,591.04. Following the sale, the chief executive officer owned 31,944 shares of the company’s stock, valued at $9,341,064.48. This trade represents a 6.20% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,396 shares of company stock worth $6,759,745. Company insiders own 0.09% of the company’s stock.

Flutter Entertainment Company 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.