DraftKings Inc. $DKNG Stock Holdings Trimmed by First Trust Advisors LP

First Trust Advisors LP lowered its position in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) by 21.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,277,892 shares of the company's stock after selling 338,826 shares during the quarter. First Trust Advisors LP owned about 0.26% of DraftKings worth $27,628,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of DraftKings by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 44,758,204 shares of the company's stock valued at $1,542,368,000 after acquiring an additional 1,354,457 shares during the last quarter. Janus Henderson Group PLC lifted its stake in DraftKings by 50.8% during the fourth quarter. Janus Henderson Group PLC now owns 25,313,909 shares of the company's stock worth $858,893,000 after purchasing an additional 8,524,923 shares during the last quarter. Viking Global Investors LP lifted its stake in DraftKings by 27.4% during the fourth quarter. Viking Global Investors LP now owns 19,119,912 shares of the company's stock worth $658,872,000 after purchasing an additional 4,116,561 shares during the last quarter. Capital World Investors boosted its holdings in DraftKings by 181.4% in the fourth quarter. Capital World Investors now owns 18,626,429 shares of the company's stock worth $641,867,000 after purchasing an additional 12,008,357 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in DraftKings by 41.0% in the fourth quarter. AQR Capital Management LLC now owns 16,474,009 shares of the company's stock worth $567,694,000 after purchasing an additional 4,788,337 shares during the period. Institutional investors own 37.70% of the company's stock.

DraftKings Stock Performance

Shares of DKNG opened at $24.62 on Wednesday. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.02 and a current ratio of 1.02. DraftKings Inc. has a 1 year low of $20.46 and a 1 year high of $48.78. The firm has a fifty day moving average of $25.61 and a 200-day moving average of $25.53. The company has a market cap of $12.21 billion, a price-to-earnings ratio of 410.33 and a beta of 1.65.

DraftKings (NASDAQ:DKNG - Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.02). The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. DraftKings had a net margin of 0.93% and a return on equity of 13.51%. The company's revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.07) earnings per share. As a group, equities analysts anticipate that DraftKings Inc. will post 0.54 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on DKNG. Benchmark reissued a "buy" rating on shares of DraftKings in a report on Monday, July 20th. Citizens Jmp lifted their price target on shares of DraftKings from $34.00 to $36.00 and gave the company a "market outperform" rating in a report on Thursday, June 25th. HSBC raised shares of DraftKings from a "hold" rating to a "hold" rating in a report on Friday, April 24th. Wells Fargo & Company lowered their price objective on shares of DraftKings from $32.00 to $29.00 and set an "overweight" rating for the company in a research report on Monday, July 20th. Finally, Stifel Nicolaus dropped their price objective on shares of DraftKings from $40.00 to $38.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. One research 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, DraftKings currently has an average rating of "Moderate Buy" and a consensus target price of $34.37.

Insider Activity at DraftKings

In other news, Director Woodrow Levin sold 34,234 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $25.71, for a total transaction of $880,156.14. Following the completion of the transaction, the director directly owned 29,820 shares in the company, valued at approximately $766,672.20. The trade was a 53.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider R Stanton Dodge sold 62,500 shares of the 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 completion of the transaction, the insider directly owned 556,258 shares of the company's stock, valued at $16,509,737.44. This trade represents a 10.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 97,596 shares of company stock worth $2,756,991 in the last 90 days. 47.18% of the stock is owned by company insiders.

About DraftKings

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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