DraftKings Inc. (NASDAQ:DKNG) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co trimmed its stake in DraftKings Inc. (NASDAQ:DKNG) by 13.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 33,098 shares of the company’s stock after selling 5,243 shares during the period. Elo Mutual Pension Insurance Co’s holdings in DraftKings were worth $1,263,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Transcendent Capital Group LLC purchased a new stake in DraftKings in the fourth quarter valued at approximately $26,000. LRI Investments LLC purchased a new stake in shares of DraftKings in the 1st quarter valued at $31,000. LifeSteps Financial Inc. acquired a new position in DraftKings during the 1st quarter worth about $33,000. Concord Wealth Partners boosted its holdings in DraftKings by 140.2% during the 1st quarter. Concord Wealth Partners now owns 776 shares of the company’s stock valued at $35,000 after acquiring an additional 453 shares during the period. Finally, Alta Advisers Ltd acquired a new position in DraftKings in the 2nd quarter valued at about $38,000. 37.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at DraftKings

In related news, insider Paul Liberman sold 668,890 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $38.83, for a total value of $25,972,998.70. Following the transaction, the insider now owns 205,962 shares in the company, valued at approximately $7,997,504.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other DraftKings news, insider Paul Liberman sold 668,890 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $38.83, for a total value of $25,972,998.70. Following the transaction, the insider now directly owns 205,962 shares of the company’s stock, valued at approximately $7,997,504.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $35.25, for a total transaction of $7,050,000.00. Following the transaction, the insider now owns 2,678,082 shares in the company, valued at $94,402,390.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,220,537 shares of company stock worth $44,784,070. Company insiders own 51.19% of the company’s stock.

DraftKings Stock Up 0.0 %

DraftKings stock opened at $39.28 on Friday. The stock has a 50-day simple moving average of $35.42 and a 200-day simple moving average of $39.46. The company has a market capitalization of $34.14 billion, a P/E ratio of -33.29 and a beta of 1.80. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.11 and a current ratio of 1.11. DraftKings Inc. has a fifty-two week low of $25.73 and a fifty-two week high of $49.57.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.13. DraftKings had a negative return on equity of 43.11% and a negative net margin of 9.45%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the company earned ($0.17) earnings per share. The company’s revenue was up 26.2% compared to the same quarter last year. Equities research analysts expect that DraftKings Inc. will post -0.31 earnings per share for the current year.

Analysts Set New Price Targets

DKNG has been the topic of several research reports. Berenberg Bank raised shares of DraftKings to a “hold” rating in a research report on Friday, May 31st. Susquehanna increased their target price on shares of DraftKings from $47.00 to $48.00 and gave the stock a “positive” rating in a report on Wednesday, September 4th. Oppenheimer decreased their price target on shares of DraftKings from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Barclays cut their price objective on DraftKings from $53.00 to $43.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $48.00 target price (down from $50.00) on shares of DraftKings in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.78.

DraftKings Profile

DraftKings Inc operates as a digital sports entertainment and gaming company in the United States and internationally. It provides online sports betting and casino, daily fantasy sports, media, and other consumer products, as well as retails sportsbooks. The company also engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators.