6,201 Shares in DraftKings Inc. (NASDAQ:DKNG) Bought by HB Wealth Management LLC

HB Wealth Management LLC purchased a new stake in DraftKings Inc. (NASDAQ:DKNGFree Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,201 shares of the company’s stock, valued at approximately $282,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new stake in DraftKings during the third quarter valued at $45,000. Natixis Advisors L.P. boosted its stake in shares of DraftKings by 7.7% during the 3rd quarter. Natixis Advisors L.P. now owns 20,686 shares of the company’s stock worth $609,000 after acquiring an additional 1,476 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of DraftKings by 3,355.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 22,354 shares of the company’s stock valued at $658,000 after acquiring an additional 21,707 shares during the period. Gotham Asset Management LLC increased its stake in shares of DraftKings by 200.4% in the 3rd quarter. Gotham Asset Management LLC now owns 42,828 shares of the company’s stock valued at $1,261,000 after purchasing an additional 28,573 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in DraftKings by 345.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,440,494 shares of the company’s stock worth $130,742,000 after purchasing an additional 3,444,107 shares during the period. 37.70% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Harry Sloan sold 250,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $38.15, for a total value of $9,537,500.00. Following the completion of the transaction, the director now owns 250,000 shares of the company’s stock, valued at $9,537,500. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Paul Liberman sold 668,890 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $38.83, for a total value of $25,972,998.70. Following the sale, the insider now directly owns 205,962 shares in the company, valued at $7,997,504.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Harry Sloan sold 250,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $38.15, for a total value of $9,537,500.00. Following the transaction, the director now directly owns 250,000 shares of the company’s stock, valued at $9,537,500. The disclosure for this sale can be found here. Insiders have sold 1,520,340 shares of company stock worth $60,996,583 over the last three months. Company insiders own 48.94% of the company’s stock.

DraftKings Trading Down 1.0 %

NASDAQ:DKNG opened at $37.07 on Friday. DraftKings Inc. has a fifty-two week low of $24.97 and a fifty-two week high of $49.57. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.51. The company has a 50 day moving average price of $40.25 and a 200 day moving average price of $40.59.

DraftKings (NASDAQ:DKNGGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.30) EPS 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 firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the business earned ($0.87) earnings per share. The company’s quarterly revenue was up 52.7% on a year-over-year basis. As a group, equities analysts forecast that DraftKings Inc. will post -0.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DKNG has been the topic of several research analyst reports. Oppenheimer dropped their price objective on DraftKings from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Monday, July 1st. The Goldman Sachs Group assumed coverage on shares of DraftKings in a research report on Tuesday, April 16th. They set a “buy” rating and a $60.00 price objective for the company. Berenberg Bank upgraded shares of DraftKings to a “hold” rating in a research report on Friday, May 31st. Moffett Nathanson boosted their target price on shares of DraftKings from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, Barclays boosted their price objective on DraftKings from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $49.17.

Check Out Our Latest Stock Analysis on DKNG

DraftKings Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for DraftKings (NASDAQ:DKNG)

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