DraftKings Inc. $DKNG Shares Acquired by Sei Investments Co.

Sei Investments Co. boosted its holdings in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 260.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 387,483 shares of the company's stock after purchasing an additional 280,033 shares during the quarter. Sei Investments Co. owned about 0.08% of DraftKings worth $8,377,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of DKNG. Integrated Wealth Concepts LLC boosted its stake in shares of DraftKings by 5.9% during the first quarter. Integrated Wealth Concepts LLC now owns 9,460 shares of the company's stock worth $314,000 after buying an additional 524 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of DraftKings by 1,141.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,044 shares of the company's stock worth $1,463,000 after buying an additional 40,495 shares during the last quarter. Empowered Funds LLC increased its position in DraftKings by 18.0% in the 1st quarter. Empowered Funds LLC now owns 9,115 shares of the company's stock valued at $303,000 after acquiring an additional 1,391 shares during the period. Sivia Capital Partners LLC acquired a new position in DraftKings in the 2nd quarter valued at about $603,000. Finally, Daiwa Securities Group Inc. raised its stake in DraftKings by 2.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 44,102 shares of the company's stock valued at $1,892,000 after acquiring an additional 968 shares during the last quarter. Institutional investors and hedge funds own 37.70% of the company's stock.

DraftKings Price Performance

Shares of DKNG opened at $23.48 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.03. The stock's 50 day moving average is $25.53 and its two-hundred day moving average is $25.29. DraftKings Inc. has a twelve month low of $20.46 and a twelve month high of $48.78. The firm has a market capitalization of $11.65 billion, a PE ratio of 391.33 and a beta of 1.65.

DraftKings (NASDAQ:DKNG - Get Free Report) last issued its earnings results on Friday, May 8th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.22 by ($0.02). The business had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.63 billion. DraftKings had a return on equity of 13.51% and a net margin of 0.93%.The business's quarterly revenue was up 16.8% on a year-over-year basis. During the same period last year, the company posted ($0.07) earnings per share. Research analysts anticipate that DraftKings Inc. will post 0.54 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider R Stanton Dodge sold 62,500 shares of the company's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $29.68, for a total transaction of $1,855,000.00. Following the transaction, the insider owned 556,258 shares of the company's stock, valued at $16,509,737.44. This represents a 10.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Woodrow Levin sold 34,234 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $25.71, for a total value of $880,156.14. Following the completion of the transaction, the director owned 29,820 shares of the company's stock, valued at $766,672.20. The trade was a 53.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 97,596 shares of company stock worth $2,756,991 in the last ninety days. 47.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DKNG shares. Barclays lifted their target price on DraftKings from $33.00 to $35.00 and gave the company an "overweight" rating in a research note on Monday, May 11th. Roth Capital upgraded DraftKings from a "sell" rating to a "buy" rating in a research note on Friday, April 24th. New Street Research set a $29.00 price target on DraftKings in a report on Monday, June 1st. BTIG Research increased their price target on DraftKings from $28.00 to $30.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Finally, Northland Securities set a $27.00 price objective on shares of DraftKings in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $34.37.

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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