Amova Asset Management Americas Inc. Has $121.93 Million Stake in DraftKings Inc. $DKNG

Amova Asset Management Americas Inc. grew its position in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 17.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,538,389 shares of the company's stock after purchasing an additional 523,570 shares during the quarter. DraftKings comprises approximately 1.4% of Amova Asset Management Americas Inc.'s investment portfolio, making the stock its 20th biggest position. Amova Asset Management Americas Inc. owned about 0.71% of DraftKings worth $121,933,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of DraftKings by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 44,758,204 shares of the company's stock valued at $1,542,368,000 after buying an additional 1,354,457 shares during the period. Capital World Investors boosted its stake in shares of DraftKings by 181.4% in the fourth quarter. Capital World Investors now owns 18,626,429 shares of the company's stock valued at $641,867,000 after buying an additional 12,008,357 shares during the period. Viking Global Investors LP bought a new stake in shares of DraftKings in the third quarter valued at approximately $561,125,000. AQR Capital Management LLC boosted its stake in shares of DraftKings by 63.5% in the third quarter. AQR Capital Management LLC now owns 11,685,672 shares of the company's stock valued at $437,044,000 after buying an additional 4,538,007 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of DraftKings by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 9,494,860 shares of the company's stock valued at $326,394,000 after buying an additional 192,160 shares during the period. Institutional investors and hedge funds own 37.70% of the company's stock.

Insider Transactions at DraftKings

In other DraftKings news, Director Jocelyn Moore sold 2,150 shares of the stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $25.60, for a total transaction of $55,040.00. Following the completion of the sale, the director directly owned 1,406 shares in the company, valued at approximately $35,993.60. This trade represents a 60.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Woodrow Levin sold 34,234 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $25.71, for a total value of $880,156.14. Following the sale, the director owned 29,820 shares of the company's stock, valued at approximately $766,672.20. The trade was a 53.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 37,246 shares of company stock valued at $957,031. Company insiders own 47.18% of the company's stock.

Analyst Ratings Changes

DKNG has been the subject of several recent analyst reports. UBS Group upped their target price on DraftKings from $43.00 to $49.00 and gave the stock a "buy" rating in a research note on Friday. JPMorgan Chase & Co. cut their target price on DraftKings from $32.00 to $31.00 and set an "overweight" rating for the company in a research note on Thursday, April 16th. HSBC upgraded DraftKings from a "hold" rating to a "hold" rating in a research note on Friday, April 24th. BNP Paribas Exane initiated coverage on DraftKings in a research note on Thursday, May 14th. They set an "underperform" rating and a $20.00 target price for the company. Finally, Northland Securities set a $27.00 target price on DraftKings in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, DraftKings presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.21.

DraftKings Stock Performance

NASDAQ DKNG opened at $27.59 on Wednesday. The company has a market capitalization of $13.69 billion, a price-to-earnings ratio of 459.83 and a beta of 1.66. DraftKings Inc. has a twelve month low of $20.46 and a twelve month high of $48.78. The stock has a fifty day simple moving average of $24.01 and a 200 day simple moving average of $27.56. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.03.

DraftKings (NASDAQ:DKNG - Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($0.02). DraftKings had a net margin of 0.93% and a return on equity of 13.51%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the company earned ($0.07) earnings per share. The business's revenue for the quarter was up 16.8% on a year-over-year basis. Sell-side analysts expect that DraftKings Inc. will post 0.6 EPS for the current year.

Key Headlines Impacting DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: DraftKings said annualized consumer trading volume on its prediction-markets platform reached $1.3 billion, with total volume up 34% to $3.1 billion and consumer volume up 24% to $1.3 billion, signaling strong traction in a high-growth new business line. DraftKings Sees $1.3 Billion in Prediction Market Trading. The Stock Is Soaring.
• Positive Sentiment: Multiple reports noted that trading volume and call-option activity surged, suggesting increased investor speculation and momentum around DKNG’s prediction-markets growth. Call Traders Target DraftKings Stock Amid Strong Volume Growth
• Positive Sentiment: News that CEO Jason Robins will participate in an upcoming investor conference may keep attention on the stock and give management another chance to discuss growth opportunities and the company’s “super app” strategy. DraftKings Announces Jason Robins' Participation in Upcoming Event
• Neutral Sentiment: DraftKings was also mentioned in a market-movers roundup and in an announcement about a CEO chat, but these items add little new fundamental information beyond keeping DKNG in the spotlight. Stocks making the biggest moves midday: Apple, Micron Technology, Coherent, DraftKings, J.M. Smucker & more
• Neutral Sentiment: A short-interest update showed 0 shares reported, which does not provide a meaningful new signal for investors. DraftKings stock jumps 11% as prediction markets volume surges

DraftKings Company Profile

DraftKings Inc is a leading digital sports entertainment and gaming company specializing in daily fantasy sports, sports betting and iGaming products. The company provides an integrated platform where users can participate in daily fantasy contests, place wagers on professional sports events, and enjoy a range of online casino-style games. DraftKings' proprietary technology supports real-time odds, live scoring and advanced analytics to enhance the user experience across mobile and desktop applications.

Founded in 2012 by co-founders Jason Robins, Matthew Kalish and Paul Liberman, DraftKings began as a daily fantasy sports provider and rapidly expanded into regulated sports betting following legislative changes in the United States.

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