Teacher Retirement System of Texas Sells 159,526 Shares of Flutter Entertainment plc (NYSE:FLUT)

Teacher Retirement System of Texas decreased its stake in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 22.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 551,821 shares of the company's stock after selling 159,526 shares during the quarter. Flutter Entertainment comprises approximately 0.5% of Teacher Retirement System of Texas' investment portfolio, making the stock its 27th largest holding. Teacher Retirement System of Texas owned about 0.31% of Flutter Entertainment worth $142,618,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new position in shares of Flutter Entertainment in the 4th quarter worth $25,000. Farther Finance Advisors LLC raised its holdings in Flutter Entertainment by 585.7% during the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock worth $25,000 after buying an additional 82 shares during the last quarter. Raleigh Capital Management Inc. bought a new position in shares of Flutter Entertainment in the fourth quarter valued at $26,000. BOCHK Asset Management Ltd bought a new position in shares of Flutter Entertainment in the fourth quarter valued at $26,000. Finally, IFP Advisors Inc grew its holdings in shares of Flutter Entertainment by 244.1% during the fourth quarter. IFP Advisors Inc now owns 117 shares of the company's stock valued at $31,000 after buying an additional 83 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FLUT. Needham & Company LLC raised their price target on shares of Flutter Entertainment from $300.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. BTIG Research set a $323.00 price objective on Flutter Entertainment in a research note on Monday, February 3rd. Barclays upped their target price on shares of Flutter Entertainment from $301.00 to $308.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Stifel Nicolaus assumed coverage on shares of Flutter Entertainment in a research report on Friday, January 17th. They issued a "buy" rating and a $320.00 price objective for the company. Finally, Wells Fargo & Company increased their price target on Flutter Entertainment from $285.00 to $300.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Nineteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $311.41.

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Flutter Entertainment Price Performance

Shares of FLUT stock traded up $6.02 during trading hours on Monday, reaching $247.02. The stock had a trading volume of 2,411,063 shares, compared to its average volume of 1,471,915. The stock's fifty day simple moving average is $263.22 and its 200 day simple moving average is $253.43. 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 firm has a market capitalization of $43.84 billion and a PE ratio of 1,122.80. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $299.73.

Insider Buying and Selling

In other news, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $261.96, for a total transaction 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. The trade was a 54.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Amy Howe sold 11,814 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $260.50, for a total value of $3,077,547.00. Following the completion of the transaction, the chief executive officer now directly owns 62,941 shares in the company, valued at approximately $16,396,130.50. This represents a 15.80 % decrease in their position. The disclosure for this sale can be found here.

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.