Thornburg Investment Management Inc. Sells 4,529 Shares of Flutter Entertainment PLC (NYSE:FLUT)

Key Points

• Thornburg Investment Management Inc. reduced its stake in Flutter Entertainment PLC by 4.1%, now holding approximately 105,787 shares valued at $23.4 million.
• Flutter Entertainment reported $1.59 EPS for the last quarter, missing analysts' expectations but achieving higher revenue of $3.67 billion, up 7.9% year-over-year.
• Analysts have positive outlooks on Flutter, with several firms raising their price targets and a consensus rating of "Moderate Buy".

Thornburg Investment Management Inc. decreased its position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 105,787 shares of the company's stock after selling 4,529 shares during the quarter. Thornburg Investment Management Inc. owned about 0.06% of Flutter Entertainment worth $23,437,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. GPS Wealth Strategies Group LLC lifted its holdings in shares of Flutter Entertainment by 1,375.0% during the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock worth $26,000 after buying an additional 110 shares during the last quarter. Parallel Advisors LLC grew its position in Flutter Entertainment by 78.9% in the first quarter. Parallel Advisors LLC now owns 136 shares of the company's stock valued at $30,000 after acquiring an additional 60 shares during the period. Tower Research Capital LLC TRC bought a new stake in shares of Flutter Entertainment during the fourth quarter worth $33,000. TD Waterhouse Canada Inc. bought a new stake in shares of Flutter Entertainment during the fourth quarter worth $36,000. Finally, Harbor Investment Advisory LLC increased its position in Flutter Entertainment by 43.8% in the first quarter. Harbor Investment Advisory LLC now owns 184 shares of the company's stock worth $41,000 after purchasing an additional 56 shares during the period.

Flutter Entertainment Stock Down 0.9%

NYSE:FLUT traded down $2.69 on Friday, hitting $299.57. The stock had a trading volume of 2,003,913 shares, compared to its average volume of 2,327,073. The company has a market cap of $52.93 billion and a PE ratio of 103.66. Flutter Entertainment PLC has a 52 week low of $175.59 and a 52 week high of $309.77. The business's fifty day moving average is $276.60 and its 200 day moving average is $258.67. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.67.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.30). The company had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.06 billion. Flutter Entertainment had a return on equity of 11.76% and a net margin of 4.17%. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. On average, equities research analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Insider Transactions at Flutter Entertainment

In related news, Director Holly K. Koeppel sold 267 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $245.36, for a total transaction of $65,511.12. Following the completion of the sale, the director directly owned 2,556 shares of the company's stock, valued at approximately $627,140.16. This trade represents a 9.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christine M. Mccarthy sold 264 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $244.12, for a total value of $64,447.68. Following the sale, the director directly owned 559 shares of the company's stock, valued at $136,463.08. The trade was a 32.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,770 shares of company stock valued at $1,894,934.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Needham & Company LLC raised their price target on Flutter Entertainment from $310.00 to $340.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Jefferies Financial Group assumed coverage on Flutter Entertainment in a research report on Tuesday, July 8th. They set a "buy" rating and a $380.00 price target on the stock. Sanford C. Bernstein started coverage on Flutter Entertainment in a report on Wednesday, June 4th. They issued a "market perform" rating and a $275.00 price objective for the company. Canaccord Genuity Group started coverage on Flutter Entertainment in a report on Wednesday, June 25th. They set a "buy" rating and a $330.00 price target for the company. Finally, Macquarie reaffirmed an "outperform" rating and issued a $340.00 target price (up previously from $330.00) on shares of Flutter Entertainment in a report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of "Moderate Buy" and a consensus price target of $322.10.

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.