Bleakley Financial Group LLC Acquires 996 Shares of DraftKings Inc. (NASDAQ:DKNG)

Bleakley Financial Group LLC grew its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 3.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,023 shares of the company’s stock after acquiring an additional 996 shares during the period. Bleakley Financial Group LLC’s holdings in DraftKings were worth $1,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Sanctuary Advisors LLC bought a new position in DraftKings in the 2nd quarter worth $1,530,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of DraftKings by 63.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 81,979 shares of the company’s stock valued at $3,129,000 after buying an additional 31,880 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of DraftKings during the 1st quarter valued at about $31,000. Atwood & Palmer Inc. raised its position in shares of DraftKings by 4.0% during the 3rd quarter. Atwood & Palmer Inc. now owns 515,075 shares of the company’s stock valued at $20,191,000 after buying an additional 19,887 shares in the last quarter. Finally, CreativeOne Wealth LLC purchased a new stake in shares of DraftKings during the 1st quarter valued at about $297,000. Institutional investors own 37.70% of the company’s stock.

Insider Buying and Selling

In other DraftKings news, insider Paul Liberman sold 643,654 shares of DraftKings stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $41.24, for a total transaction of $26,544,290.96. Following the completion of the sale, the insider now directly owns 137,308 shares of the company’s stock, valued at $5,662,581.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $30.72, for a total value of $6,144,000.00. Following the completion of the sale, the insider now directly owns 2,699,815 shares of the company’s stock, valued at approximately $82,938,316.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Liberman sold 643,654 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $41.24, for a total value of $26,544,290.96. Following the completion of the sale, the insider now directly owns 137,308 shares of the company’s stock, valued at $5,662,581.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,132,095 shares of company stock valued at $42,890,328 in the last three months. 51.19% of the stock is owned by corporate insiders.

DraftKings Stock Performance

Shares of DKNG stock opened at $38.46 on Monday. DraftKings Inc. has a 52 week low of $25.73 and a 52 week high of $49.57. The stock has a market capitalization of $33.43 billion, a PE ratio of -32.59 and a beta of 1.81. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.97. The firm has a 50 day moving average of $36.78 and a two-hundred day moving average of $38.60.

DraftKings (NASDAQ:DKNG) last released its earnings results on Thursday, August 1st. The company reported $0.12 EPS for the quarter, topping 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 firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the firm posted ($0.17) EPS. DraftKings’s revenue for the quarter was up 26.2% on a year-over-year basis. On average, research analysts predict that DraftKings Inc. will post -0.31 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on DKNG shares. Stifel Nicolaus reissued a “buy” rating and issued a $48.00 price objective (down from $50.00) on shares of DraftKings in a research report on Monday, August 5th. The Goldman Sachs Group reduced their price objective on shares of DraftKings from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Morgan Stanley reissued an “overweight” rating and issued a $47.00 price objective on shares of DraftKings in a research report on Wednesday, September 11th. Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of DraftKings in a research note on Monday, September 23rd. Finally, Oppenheimer dropped their target price on shares of DraftKings from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.19.

About DraftKings

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.