DraftKings Inc. (NASDAQ:DKNG) Position Boosted by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale increased its holdings in DraftKings Inc. (NASDAQ:DKNG) by 159.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,849 shares of the company’s stock after buying an additional 46,024 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in DraftKings were worth $2,772,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Nicholas Investment Partners LP grew its holdings in DraftKings by 20.8% in the 2nd quarter. Nicholas Investment Partners LP now owns 40,647 shares of the company’s stock worth $1,551,000 after buying an additional 6,987 shares in the last quarter. BOKF NA lifted its position in shares of DraftKings by 44.2% during the 2nd quarter. BOKF NA now owns 35,947 shares of the company’s stock valued at $1,372,000 after acquiring an additional 11,012 shares during the last quarter. Jupiter Asset Management Ltd. lifted its position in shares of DraftKings by 1,261.7% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 1,612,405 shares of the company’s stock valued at $61,545,000 after acquiring an additional 1,493,995 shares during the last quarter. Qsemble Capital Management LP lifted its position in shares of DraftKings by 28.4% during the 2nd quarter. Qsemble Capital Management LP now owns 56,834 shares of the company’s stock valued at $2,169,000 after acquiring an additional 12,577 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of DraftKings by 2.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 36,986 shares of the company’s stock valued at $1,412,000 after acquiring an additional 1,026 shares during the last quarter. 37.70% of the stock is owned by institutional investors.

Insider Transactions at DraftKings

In other news, insider Paul Liberman sold 63,206 shares of DraftKings stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $39.00, for a total value of $2,465,034.00. Following the transaction, the insider now directly owns 1,716,406 shares in the company, valued at $66,939,834. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Paul Liberman sold 63,206 shares of DraftKings stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $39.00, for a total value of $2,465,034.00. Following the transaction, the insider now directly owns 1,716,406 shares in the company, valued at $66,939,834. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $35.25, for a total value 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 ninety days, insiders have sold 1,220,537 shares of company stock worth $44,784,070. Company insiders own 51.19% of the company’s stock.

DraftKings Trading Down 2.3 %

DraftKings stock opened at $38.07 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.11 and a current ratio of 1.11. The business’s 50-day simple moving average is $35.35 and its 200-day simple moving average is $39.50. The firm has a market capitalization of $33.09 billion, a PE ratio of -32.26 and a beta of 1.80. DraftKings Inc. has a 52 week low of $25.73 and a 52 week high of $49.57.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on DKNG shares. Susquehanna increased their price objective on DraftKings from $47.00 to $48.00 and gave the company a “positive” rating in a research report on Wednesday, September 4th. Berenberg Bank upgraded DraftKings to a “hold” rating in a report on Friday, May 31st. Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of DraftKings in a report on Monday. Wells Fargo & Company reduced their target price on DraftKings from $53.00 to $47.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Finally, BMO Capital Markets reduced their target price on DraftKings from $54.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, DraftKings presently has an average rating of “Moderate Buy” and a consensus 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.