SG Americas Securities LLC Purchases 84,476 Shares of DraftKings Inc. (NASDAQ:DKNG)

SG Americas Securities LLC boosted its position in DraftKings Inc. (NASDAQ:DKNG – Get Rating) by 357.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 108,137 shares of the company’s stock after purchasing an additional 84,476 shares during the quarter. SG Americas Securities LLC’s holdings in DraftKings were worth $2,105,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cornerstone Advisory LLC acquired a new position in shares of DraftKings during the fourth quarter valued at about $39,000. Paradigm Financial Advisors LLC increased its holdings in shares of DraftKings by 6.3% during the fourth quarter. Paradigm Financial Advisors LLC now owns 25,995 shares of the company’s stock valued at $714,000 after acquiring an additional 1,540 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of DraftKings by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,012,824 shares of the company’s stock valued at $27,822,000 after acquiring an additional 35,901 shares in the last quarter. Ropes Wealth Advisors LLC acquired a new position in shares of DraftKings during the fourth quarter valued at about $5,695,000. Finally, Titleist Asset Management LTD. acquired a new position in shares of DraftKings during the fourth quarter valued at about $436,000. 33.91% of the stock is currently owned by institutional investors.

DraftKings Trading Down 5.2 %

Shares of NASDAQ:DKNG opened at $13.53 on Monday. DraftKings Inc. has a 1 year low of $9.77 and a 1 year high of $64.58. The firm has a market capitalization of $10.85 billion, a price-to-earnings ratio of -3.34 and a beta of 2.06. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.96 and a quick ratio of 2.96. The business’s 50 day moving average price is $12.96 and its 200-day moving average price is $16.89.

DraftKings (NASDAQ:DKNG – Get Rating) last announced its earnings results on Friday, May 6th. The company reported ($1.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.08. The firm had revenue of $417.21 million for the quarter, compared to analyst estimates of $404.20 million. DraftKings had a negative return on equity of 86.40% and a negative net margin of 117.39%. On average, equities research analysts forecast that DraftKings Inc. will post -3.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DKNG. Loop Capital cut their price objective on shares of DraftKings from $35.00 to $25.00 in a report on Monday, May 9th. Truist Financial cut their price target on shares of DraftKings from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Wednesday, July 20th. JMP Securities started coverage on shares of DraftKings in a report on Tuesday, June 28th. They issued an “outperform” rating and a $25.00 price target on the stock. Needham & Company LLC cut their price target on shares of DraftKings from $32.00 to $25.00 in a report on Monday, May 9th. Finally, Craig Hallum cut their price target on shares of DraftKings from $40.00 to $30.00 in a report on Monday, May 9th. Eleven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.52.

DraftKings Profile

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DraftKings Inc operates a digital sports entertainment and gaming company. It offers multi-channel sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. The company operates iGaming through its DraftKings brand in 5 states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand in 3 states.