Udine Wealth Management Inc. Has $2.06 Million Holdings in DraftKings Inc. (NASDAQ:DKNG)

Udine Wealth Management Inc. grew its stake in shares of DraftKings Inc. (NASDAQ:DKNG) by 4.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 52,548 shares of the company’s stock after buying an additional 2,073 shares during the quarter. DraftKings makes up 1.5% of Udine Wealth Management Inc.’s holdings, making the stock its 17th biggest holding. Udine Wealth Management Inc.’s holdings in DraftKings were worth $2,060,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Winthrop Advisory Group LLC grew its stake in DraftKings by 2.4% during the first quarter. Winthrop Advisory Group LLC now owns 10,452 shares of the company’s stock worth $475,000 after purchasing an additional 244 shares during the period. ST Germain D J Co. Inc. increased its stake in shares of DraftKings by 26.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 1,200 shares of the company’s stock valued at $54,000 after acquiring an additional 250 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in DraftKings by 21.0% in the second quarter. Hexagon Capital Partners LLC now owns 1,651 shares of the company’s stock worth $63,000 after purchasing an additional 286 shares during the period. Sfmg LLC increased its stake in DraftKings by 3.9% in the first quarter. Sfmg LLC now owns 8,140 shares of the company’s stock valued at $370,000 after purchasing an additional 306 shares in the last quarter. Finally, Brown Lisle Cummings Inc. raised its holdings in shares of DraftKings by 32.5% during the second quarter. Brown Lisle Cummings Inc. now owns 1,325 shares of the company’s stock valued at $51,000 after purchasing an additional 325 shares during the period. Institutional investors own 37.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on DKNG shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $48.00 target price (down from $50.00) on shares of DraftKings in a research report on Monday, August 5th. Truist Financial reaffirmed a “buy” rating and set a $50.00 target price on shares of DraftKings in a research report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price target on shares of DraftKings from $48.00 to $54.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Morgan Stanley restated an “overweight” rating and set a $47.00 price objective on shares of DraftKings in a report on Wednesday, September 11th. Finally, Barclays lifted their price objective on shares of DraftKings from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.89.

DraftKings Stock Down 0.8 %

Shares of DraftKings stock opened at $37.50 on Wednesday. The firm has a market cap of $32.60 billion, a price-to-earnings ratio of -31.78 and a beta of 1.81. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.11 and a quick ratio of 1.11. DraftKings Inc. has a 1 year low of $25.73 and a 1 year high of $49.57. The company has a 50-day moving average of $35.87 and a 200 day moving average of $39.04.

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

Insider Buying and Selling at DraftKings

In related news, insider Paul Liberman sold 643,654 shares of the firm’s stock in a transaction that occurred on 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 approximately $5,662,581.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction on 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 directly owns 2,678,082 shares in the company, valued at $94,402,390.50. 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 through this link. Also, insider Paul Liberman sold 643,654 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $41.24, for a total value of $26,544,290.96. Following the transaction, the insider now owns 137,308 shares in the company, valued at approximately $5,662,581.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,195,301 shares of company stock worth $45,355,362 in the last quarter. 51.19% of the stock is owned by corporate insiders.

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.