International Assets Investment Management LLC Has $10.68 Million Holdings in DraftKings Inc. (NASDAQ:DKNG)

International Assets Investment Management LLC grew its stake in DraftKings Inc. (NASDAQ:DKNG) by 4,495.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 272,479 shares of the company’s stock after buying an additional 266,550 shares during the quarter. International Assets Investment Management LLC’s holdings in DraftKings were worth $10,681,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HB Wealth Management LLC bought a new stake in shares of DraftKings in the first quarter worth $282,000. Private Advisor Group LLC lifted its position in shares of DraftKings by 40.4% in the first quarter. Private Advisor Group LLC now owns 116,240 shares of the company’s stock worth $5,278,000 after purchasing an additional 33,462 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of DraftKings in the first quarter worth $205,000. Janney Montgomery Scott LLC lifted its position in shares of DraftKings by 4.8% in the first quarter. Janney Montgomery Scott LLC now owns 235,305 shares of the company’s stock worth $10,685,000 after purchasing an additional 10,698 shares in the last quarter. Finally, Capstone Investment Advisors LLC raised its position in DraftKings by 64.8% during the first quarter. Capstone Investment Advisors LLC now owns 42,489 shares of the company’s stock worth $1,929,000 after acquiring an additional 16,713 shares in the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

Wall Street Analyst Weigh In

DKNG has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price target on shares of DraftKings from $48.00 to $54.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. JMP Securities reaffirmed a “market outperform” rating and set a $51.00 price target on shares of DraftKings in a research report on Monday, October 14th. Susquehanna upped their price target on shares of DraftKings from $48.00 to $50.00 and gave the stock a “positive” rating in a research report on Monday, October 7th. Oppenheimer dropped their price target on shares of DraftKings from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Finally, Benchmark reaffirmed a “buy” rating and set a $44.00 price target on shares of DraftKings in a research report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.22.

DraftKings Trading Up 0.3 %

Shares of DraftKings stock opened at $36.87 on Thursday. The company has a market capitalization of $32.39 billion, a price-to-earnings ratio of -41.43 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. DraftKings Inc. has a 12-month low of $26.42 and a 12-month high of $49.57. The firm’s 50-day moving average price is $37.35 and its two-hundred day moving average price is $38.17.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.13. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate 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 prior year, the company posted ($0.17) earnings per share. On average, analysts forecast that DraftKings Inc. will post -0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DraftKings news, insider Paul Liberman sold 88,441 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $35.64, for a total transaction of $3,152,037.24. Following the sale, the insider now directly owns 2,498,483 shares in the company, valued at $89,045,934.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Paul Liberman sold 88,441 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $35.64, for a total value of $3,152,037.24. Following the completion of the transaction, the insider now owns 2,498,483 shares of the company’s stock, valued at approximately $89,045,934.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason Robins sold 200,000 shares of the 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 completion of the transaction, the insider now directly owns 2,678,082 shares of the company’s stock, valued at $94,402,390.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,220,536 shares of company stock worth $46,110,465 over the last ninety days. Corporate insiders own 48.94% of the company’s stock.

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.