Thornburg Investment Management Inc. Sells 2,578 Shares of Flutter Entertainment plc (NYSE:FLUT)

Thornburg Investment Management Inc. trimmed its position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities & 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 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of FLUT. Jennison Associates LLC acquired a new stake in shares of Flutter Entertainment during the 4th quarter worth approximately $239,306,000. DJE Kapital AG bought a new stake in Flutter Entertainment during the fourth quarter worth $442,000. Bank of New York Mellon Corp boosted its holdings in shares of Flutter Entertainment by 68.3% in the 4th quarter. Bank of New York Mellon Corp now owns 199,813 shares of the company's stock valued at $51,642,000 after purchasing an additional 81,101 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Flutter Entertainment by 6.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 661,301 shares of the company's stock valued at $170,913,000 after purchasing an additional 38,800 shares in the last quarter. Finally, Plato Investment Management Ltd increased its stake in shares of Flutter Entertainment by 244.4% in the 4th quarter. Plato Investment Management Ltd now owns 3,265 shares of the company's stock valued at $847,000 after purchasing an additional 2,317 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FLUT shares. BTIG Research decreased their target price on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company lifted their price target on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Barclays dropped their price objective on shares of Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Citizens Jmp decreased their target price on shares of Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Finally, JMP Securities lowered their price target on shares of Flutter Entertainment from $328.00 to $317.00 and set a "market outperform" rating for the company in a report on Monday, April 14th. Twenty investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Flutter Entertainment has a consensus rating of "Buy" and a consensus price target of $306.28.

Flutter Entertainment Trading Down 2.7%

FLUT stock traded down $6.62 during trading on Wednesday, hitting $240.27. The company had a trading volume of 1,773,744 shares, compared to its average volume of 1,870,791. The stock has a market cap of $42.45 billion and a PE ratio of 83.14. The business has a 50-day moving average of $234.56 and a 200-day moving average of $254.40. 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 one year low of $174.03 and a one year high of $299.73.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 EPS for the quarter, missing analysts' consensus estimates of $1.89 by ($0.30). The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a negative net margin of 6.86% and a negative return on equity of 4.52%. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 earnings per share. Research analysts predict that Flutter Entertainment plc will post 4.17 earnings per share for the current fiscal year.

Insider Activity

In other Flutter Entertainment news, Director Jeremy Peter Jackson sold 25,027 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $261.96, for a total value of $6,556,072.92. Following the completion of the sale, the director now directly owns 21,148 shares in the company, valued at approximately $5,539,930.08. This trade represents a 54.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the completion of the sale, the chief executive officer now directly owns 62,941 shares of the company's stock, valued at approximately $16,396,130.50. This trade represents a 15.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,156 shares of company stock valued at $10,926,922 in the last ninety days.

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.