Thornburg Investment Management Inc. Reduces Stock Position in Flutter Entertainment plc (NYSE:FLUT)

Thornburg Investment Management Inc. trimmed its holdings in Flutter Entertainment plc (NYSE:FLUT) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,316 shares of the company’s stock after selling 2,578 shares during the period. Thornburg Investment Management Inc. owned approximately 0.06% of Flutter Entertainment worth $28,511,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harvest Fund Management Co. Ltd purchased a new stake in shares of Flutter Entertainment in the fourth quarter worth $25,000. Farther Finance Advisors LLC raised its holdings 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 valued at $25,000 after acquiring an additional 82 shares in the last quarter. BOCHK Asset Management Ltd bought a new stake in shares of Flutter Entertainment during the 4th quarter valued at about $26,000. Raleigh Capital Management Inc. bought a new stake in shares of Flutter Entertainment during the 4th quarter valued at about $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 worth $31,000 after purchasing an additional 83 shares in the last quarter.

Insiders Place Their Bets

In other Flutter Entertainment news, COO James Philip Bishop sold 3,000 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $243.20, for a total transaction 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 represents a 38.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Amy Howe sold 2,315 shares of Flutter Entertainment stock in a transaction on Friday, May 9th. The shares were sold at an average price of $243.50, for a total transaction of $563,702.50. Following the completion of the sale, the chief executive officer now directly owns 73,947 shares in the company, valued at $18,006,094.50. This represents a 3.04% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,156 shares of company stock valued at $10,926,922.

Flutter Entertainment Price Performance

FLUT opened at $249.23 on Friday. The company has a market capitalization of $44.04 billion and a price-to-earnings ratio of 86.24. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. Flutter Entertainment plc has a 12-month low of $174.03 and a 12-month high of $299.73. The business’s fifty day simple moving average is $233.96 and its 200-day simple moving average is $254.17.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the prior year, the company earned $0.10 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities research analysts anticipate that Flutter Entertainment plc will post 4.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

FLUT has been the topic of a number of recent research reports. Wells Fargo & Company increased their price target on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Macquarie reaffirmed an “outperform” rating and set a $340.00 target price (up previously from $330.00) on shares of Flutter Entertainment in a report on Thursday, May 8th. Peel Hunt raised shares of Flutter Entertainment from a “hold” rating to an “add” rating in a research note on Monday, March 10th. Stifel Nicolaus reduced their price objective on Flutter Entertainment from $320.00 to $315.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Finally, UBS Group lifted their price objective on Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Twenty investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $306.28.

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.