Atlanta Consulting Group Advisors LLC Takes $225,000 Position in DraftKings Inc. $DKNG

Atlanta Consulting Group Advisors LLC purchased a new stake in shares of DraftKings Inc. (NASDAQ:DKNG) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 5,248 shares of the company’s stock, valued at approximately $225,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in DraftKings by 2,138.9% in the 1st quarter. AQR Capital Management LLC now owns 4,696,244 shares of the company’s stock valued at $155,962,000 after buying an additional 4,486,488 shares during the last quarter. Eminence Capital LP lifted its stake in shares of DraftKings by 195.2% in the first quarter. Eminence Capital LP now owns 5,178,083 shares of the company’s stock worth $171,964,000 after acquiring an additional 3,423,909 shares in the last quarter. Nuveen LLC acquired a new position in shares of DraftKings in the first quarter worth about $107,739,000. AGF Management Ltd. purchased a new position in DraftKings in the first quarter valued at about $83,622,000. Finally, Baillie Gifford & Co. boosted its holdings in DraftKings by 26.5% in the first quarter. Baillie Gifford & Co. now owns 8,390,236 shares of the company’s stock valued at $278,640,000 after purchasing an additional 1,756,778 shares during the last quarter. Hedge funds and other institutional investors own 37.70% of the company’s stock.

DraftKings Price Performance

Shares of NASDAQ:DKNG opened at $31.51 on Thursday. The company has a market cap of $15.68 billion, a PE ratio of -55.28, a P/E/G ratio of 1.02 and a beta of 1.86. DraftKings Inc. has a fifty-two week low of $26.23 and a fifty-two week high of $53.61. The firm has a 50-day simple moving average of $36.86 and a 200 day simple moving average of $39.38. The company has a quick ratio of 1.34, a current ratio of 1.10 and a debt-to-equity ratio of 2.51.

DraftKings (NASDAQ:DKNG) last issued its earnings results on Thursday, November 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.40 billion. DraftKings had a negative return on equity of 22.84% and a negative net margin of 4.90%.The business’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.60) EPS. DraftKings has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that DraftKings Inc. will post 0.64 EPS for the current year.

Insiders Place Their Bets

In related news, Director Gregory Westin Wendt bought 10,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were bought at an average cost of $30.27 per share, for a total transaction of $302,700.00. Following the completion of the purchase, the director owned 10,000 shares of the company’s stock, valued at $302,700. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ryan R. Moore sold 76,390 shares of the business’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $45.92, for a total transaction of $3,507,828.80. Following the transaction, the director directly owned 402 shares of the company’s stock, valued at approximately $18,459.84. This trade represents a 99.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 337,916 shares of company stock worth $14,118,881. 51.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on DKNG. Stifel Nicolaus restated a “buy” rating and set a $46.00 price objective (down from $50.00) on shares of DraftKings in a report on Monday. Sanford C. Bernstein decreased their price target on shares of DraftKings from $50.00 to $41.00 and set an “outperform” rating for the company in a research report on Monday. Needham & Company LLC restated a “buy” rating and issued a $52.00 price target on shares of DraftKings in a research note on Monday. Oppenheimer reduced their price objective on shares of DraftKings from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 1st. Finally, Jefferies Financial Group set a $52.00 price objective on shares of DraftKings in a report on Monday, October 6th. Twenty-six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, DraftKings currently has an average rating of “Moderate Buy” and an average target price of $48.66.

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.