Thornburg Investment Management Inc. Trims Stake in Flutter Entertainment plc (NYSE:FLUT)

Thornburg Investment Management Inc. cut its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 2.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 110,316 shares of the company’s stock after selling 2,578 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Flutter Entertainment were worth $28,511,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. UMB Bank n.a. lifted its position in shares of Flutter Entertainment by 58.8% during the fourth quarter. UMB Bank n.a. now owns 135 shares of the company’s stock worth $35,000 after purchasing an additional 50 shares in the last quarter. Harbor Investment Advisory LLC grew its holdings in shares of Flutter Entertainment by 64.1% in the fourth quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock valued at $33,000 after purchasing an additional 50 shares in the last quarter. Seelaus Asset Management LLC lifted its holdings in Flutter Entertainment by 6.4% during the 4th quarter. Seelaus Asset Management LLC now owns 914 shares of the company’s stock worth $236,000 after buying an additional 55 shares in the last quarter. Ritholtz Wealth Management boosted its position in Flutter Entertainment by 3.5% in the 4th quarter. Ritholtz Wealth Management now owns 1,725 shares of the company’s stock valued at $446,000 after buying an additional 59 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in 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 buying an additional 82 shares during the period.

Flutter Entertainment Stock Up 2.1%

NYSE FLUT opened at $249.23 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. Flutter Entertainment plc has a fifty-two week low of $174.03 and a fifty-two week high of $299.73. The business has a 50 day moving average price of $233.96 and a two-hundred day moving average price of $254.17. The stock has a market cap of $44.04 billion and a PE ratio of 86.24.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results 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 net margin of 6.86% and a negative return on equity of 4.52%. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter last year, the company posted $0.10 earnings per share. Flutter Entertainment’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, sell-side analysts predict that Flutter Entertainment plc will post 4.17 EPS for the current fiscal year.

Insider Activity

In other news, CEO Amy Howe sold 2,315 shares of the company’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $243.50, for a total value of $563,702.50. Following the sale, the chief executive officer now owns 73,947 shares in the company, valued at approximately $18,006,094.50. This represents a 3.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the transaction, the director now directly owns 21,148 shares in the company, valued at $5,539,930.08. The trade was a 54.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,156 shares of company stock worth $10,926,922 over the last ninety days.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FLUT shares. Barclays reduced their price target on Flutter Entertainment from $300.00 to $293.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Susquehanna reduced their target price on shares of Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating on the stock in a report on Wednesday, March 5th. Citigroup reiterated an “outperform” rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. Truist Financial dropped their price objective on shares of Flutter Entertainment from $330.00 to $280.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Finally, Citizens Jmp decreased their price objective on shares of Flutter Entertainment from $328.00 to $317.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Twenty investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Flutter Entertainment 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.