Ameritas Advisory Services LLC Acquires Shares of 1,122 DraftKings Inc. $DKNG

Ameritas Advisory Services LLC acquired a new stake in shares of DraftKings Inc. (NASDAQ:DKNG) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,122 shares of the company’s stock, valued at approximately $48,000.

Other large investors have also bought and sold shares of the company. AQR Capital Management LLC boosted its position in shares of DraftKings by 2,138.9% during the first quarter. AQR Capital Management LLC now owns 4,696,244 shares of the company’s stock valued at $155,962,000 after purchasing an additional 4,486,488 shares in the last quarter. Eminence Capital LP boosted its holdings in shares of DraftKings by 195.2% during the 1st quarter. Eminence Capital LP now owns 5,178,083 shares of the company’s stock valued at $171,964,000 after buying an additional 3,423,909 shares in the last quarter. Nuveen LLC bought a new stake in shares of DraftKings during the 1st quarter valued at $107,739,000. AGF Management Ltd. bought a new stake in shares of DraftKings during the 1st quarter valued at $83,622,000. Finally, Baillie Gifford & Co. boosted its holdings in shares of DraftKings by 26.5% during the 1st quarter. Baillie Gifford & Co. now owns 8,390,236 shares of the company’s stock valued at $278,640,000 after buying an additional 1,756,778 shares in the last quarter. 37.70% of the stock is owned by institutional investors.

Insider Activity

In other DraftKings news, Director Ryan R. Moore sold 76,390 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $45.92, for a total value of $3,507,828.80. Following the transaction, the director owned 402 shares of the company’s stock, valued at approximately $18,459.84. This represents a 99.48% 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, CFO Alan Wayne Ellingson sold 44,693 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $44.90, for a total value of $2,006,715.70. Following the completion of the transaction, the chief financial officer directly owned 128,131 shares in the company, valued at approximately $5,753,081.90. This represents a 25.86% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 658,331 shares of company stock worth $29,285,365. Insiders own 47.08% of the company’s stock.

DraftKings Trading Up 2.7%

Shares of NASDAQ:DKNG opened at $33.58 on Tuesday. The company has a market cap of $16.67 billion, a P/E ratio of -51.66, a PEG ratio of 0.70 and a beta of 1.99. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.34 and a quick ratio of 1.34. DraftKings Inc. has a 1 year low of $29.64 and a 1 year high of $53.61. The stock’s fifty day moving average price is $42.97 and its 200-day moving average price is $39.63.

DraftKings (NASDAQ:DKNG) last posted its earnings results on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.14. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.39 billion. DraftKings had a negative net margin of 5.63% and a negative return on equity of 30.06%. The business’s revenue for the quarter was up 36.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 EPS. DraftKings has set its FY 2025 guidance at EPS. Sell-side analysts expect that DraftKings Inc. will post 0.64 earnings per share for the current year.

Wall Street Analyst Weigh In

DKNG has been the topic of several research reports. Mizuho dropped their price objective on shares of DraftKings from $58.00 to $54.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 7th. Susquehanna reissued a “positive” rating and issued a $64.00 price target on shares of DraftKings in a research report on Friday, August 8th. Morgan Stanley reissued an “overweight” rating and issued a $52.00 price target (up from $51.00) on shares of DraftKings in a research report on Friday, July 11th. Wall Street Zen cut DraftKings from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, UBS Group dropped their target price on DraftKings from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, September 24th. Twenty-seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, DraftKings presently has an average rating of “Moderate Buy” and an average price target of $53.17.

About DraftKings

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.