Traynor Capital Management Inc. lifted its holdings in DraftKings Inc. (NASDAQ:DKNG – Free Report) by 27.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,417 shares of the company’s stock after buying an additional 2,858 shares during the quarter. Traynor Capital Management Inc.’s holdings in DraftKings were worth $609,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of DKNG. PNC Financial Services Group Inc. boosted its position in DraftKings by 20.8% during the third quarter. PNC Financial Services Group Inc. now owns 56,997 shares of the company’s stock worth $1,678,000 after purchasing an additional 9,820 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in DraftKings during the third quarter worth $795,000. Kestra Advisory Services LLC boosted its position in DraftKings by 35.0% during the third quarter. Kestra Advisory Services LLC now owns 47,353 shares of the company’s stock worth $1,394,000 after purchasing an additional 12,283 shares in the last quarter. Korea Investment CORP purchased a new stake in DraftKings during the third quarter worth $484,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in DraftKings during the third quarter worth $529,000. 37.70% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at DraftKings
In related news, insider Jason Robins sold 200,000 shares of the stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $40.91, for a total value of $8,182,000.00. Following the completion of the transaction, the insider now owns 3,043,231 shares of the company’s stock, valued at $124,498,580.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jocelyn Moore sold 1,450 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $35.92, for a total value of $52,084.00. Following the completion of the transaction, the director now owns 6,814 shares of the company’s stock, valued at $244,758.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason Robins sold 200,000 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $40.91, for a total value of $8,182,000.00. Following the completion of the transaction, the insider now directly owns 3,043,231 shares of the company’s stock, valued at approximately $124,498,580.21. The disclosure for this sale can be found here. Insiders sold 851,450 shares of company stock valued at $35,023,584 over the last quarter. Company insiders own 48.94% of the company’s stock.
Analysts Set New Price Targets
View Our Latest Report on DKNG
DraftKings Trading Down 4.7 %
Shares of NASDAQ DKNG opened at $40.01 on Tuesday. DraftKings Inc. has a 1-year low of $24.67 and a 1-year high of $49.57. The business has a 50-day moving average of $41.04 and a 200-day moving average of $40.57. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.51.
DraftKings (NASDAQ:DKNG – Get Free Report) last issued its earnings results on Thursday, May 2nd. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.02). DraftKings had a negative return on equity of 62.74% and a negative net margin of 13.45%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the company earned ($0.87) EPS. DraftKings’s quarterly revenue was up 52.7% on a year-over-year basis. As a group, equities analysts anticipate that DraftKings Inc. will post -0.21 EPS for the current year.
DraftKings Company 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.
Read More
- Five stocks we like better than DraftKings
- How to Calculate Options Profits
- Tesla Stock: The Pay Package Battle and Its Impact on Investors
- Utilities Stocks Explained – How and Why to Invest in Utilities
- Call Option Interest Soars in These 3 Stocks
- What Are Dividend Contenders? Investing in Dividend Contenders
- Top 3 Dividend Stocks Trading Close to 52-Week Low Prices
Want to see what other hedge funds are holding DKNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DraftKings Inc. (NASDAQ:DKNG – Free Report).
Receive News & Ratings for DraftKings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DraftKings and related companies with MarketBeat.com's FREE daily email newsletter.