Arkadios Wealth Advisors lessened its stake in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) by 56.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,533 shares of the company's stock after selling 53,198 shares during the period. Arkadios Wealth Advisors' holdings in DraftKings were worth $876,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its stake in DraftKings by 49.1% during the first quarter. EverSource Wealth Advisors LLC now owns 17,161 shares of the company's stock worth $371,000 after acquiring an additional 5,655 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of DraftKings by 27.1% in the 1st quarter. Empowered Funds LLC now owns 14,214 shares of the company's stock worth $307,000 after acquiring an additional 3,030 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of DraftKings by 272.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 124,989 shares of the company's stock worth $2,702,000 after acquiring an additional 91,436 shares during the last quarter. Infrastructure Capital Advisors LLC boosted its position in shares of DraftKings by 33.0% during the first quarter. Infrastructure Capital Advisors LLC now owns 16,493 shares of the company's stock worth $357,000 after buying an additional 4,093 shares during the period. Finally, Quantinno Capital Management LP lifted its stake in DraftKings by 273.9% during the 1st quarter. Quantinno Capital Management LP now owns 898,241 shares of the company's stock worth $19,420,000 after acquiring an additional 658,006 shares in the last quarter. Institutional investors and hedge funds own 37.70% of the company's stock.
DraftKings Price Performance
Shares of DKNG opened at $21.80 on Thursday. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.02 and a quick ratio of 1.02. DraftKings Inc. has a 1-year low of $20.46 and a 1-year high of $48.78. The stock has a market cap of $10.82 billion, a PE ratio of 363.32 and a beta of 1.66. The firm has a fifty day moving average price of $25.43 and a 200 day moving average price of $25.05.
DraftKings (NASDAQ:DKNG - Get Free Report) last released its quarterly earnings results on Friday, May 8th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.02). The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. DraftKings had a return on equity of 13.51% and a net margin of 0.93%.The company's quarterly revenue was up 16.8% on a year-over-year basis. During the same period last year, the firm earned ($0.07) EPS. As a group, sell-side analysts anticipate that DraftKings Inc. will post 0.54 EPS for the current year.
Wall Street Analyst Weigh In
Several research firms have weighed in on DKNG. Weiss Ratings downgraded DraftKings from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday, May 11th. Northland Securities set a $27.00 price target on shares of DraftKings in a research note on Monday, May 11th. BTIG Research lifted their target price on DraftKings from $28.00 to $30.00 and gave the company a "buy" rating in a report on Friday, May 8th. Susquehanna lowered their target price on DraftKings from $32.00 to $31.00 and set a "positive" rating for the company in a research note on Wednesday, July 1st. Finally, Stephens started coverage on DraftKings in a research note on Friday, April 24th. They issued an "overweight" rating for the company. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $34.37.
View Our Latest Report on DraftKings
Insider Buying and Selling
In other DraftKings news, Director Woodrow Levin sold 34,234 shares of the company's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $25.71, for a total transaction of $880,156.14. Following the completion of the transaction, the director owned 29,820 shares in the company, valued at approximately $766,672.20. This represents a 53.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R Stanton Dodge sold 62,500 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $29.68, for a total value of $1,855,000.00. Following the transaction, the insider owned 556,258 shares in the company, valued at $16,509,737.44. The trade was a 10.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 97,596 shares of company stock worth $2,756,991. Corporate insiders own 47.18% of the company's stock.
About DraftKings
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding DKNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DraftKings Inc. (NASDAQ:DKNG - Free Report).
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