Kera Capital Partners Inc. Takes Position in DraftKings Inc. $DKNG

Key Points

• Kera Capital Partners Inc. has acquired 7,427 shares of DraftKings Inc. valued at approximately $319,000, marking a new position in the company.
• DraftKings reported a quarterly earnings per share of $0.30, exceeding analysts' expectations, with revenues of $1.51 billion, a year-over-year increase of 36.9%.
• Institutional investors own approximately 37.70% of DraftKings' stock, with multiple firms adjusting their stakes, indicating increased interest in the company.

Kera Capital Partners Inc. acquired a new stake in DraftKings Inc. (NASDAQ:DKNG - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 7,427 shares of the company's stock, valued at approximately $319,000.

A number of other institutional investors have also added to or reduced their stakes in DKNG. OMERS ADMINISTRATION Corp raised its stake in DraftKings by 21.1% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 17,735 shares of the company's stock worth $660,000 after buying an additional 3,088 shares during the period. Nissay Asset Management Corp Japan ADV raised its stake in DraftKings by 0.3% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 77,696 shares of the company's stock worth $2,946,000 after buying an additional 217 shares during the period. Quantinno Capital Management LP raised its stake in DraftKings by 30.2% during the 4th quarter. Quantinno Capital Management LP now owns 21,991 shares of the company's stock worth $818,000 after buying an additional 5,105 shares during the period. Point72 Hong Kong Ltd acquired a new position in DraftKings during the 4th quarter worth approximately $355,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in DraftKings during the 4th quarter worth approximately $28,000. 37.70% of the stock is owned by institutional investors and hedge funds.

DraftKings Stock Performance

Shares of DKNG opened at $43.98 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a 50 day moving average price of $45.03 and a two-hundred day moving average price of $39.66. The firm has a market capitalization of $21.83 billion, a P/E ratio of -67.66, a P/E/G ratio of 1.09 and a beta of 1.73. DraftKings Inc. has a 52 week low of $29.64 and a 52 week high of $53.61.

DraftKings (NASDAQ:DKNG - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.14. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.39 billion. DraftKings had a negative return on equity of 30.06% and a negative net margin of 5.63%.The company's revenue for the quarter was up 36.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.12 EPS. DraftKings has set its FY 2025 guidance at EPS. Equities analysts forecast that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on DKNG shares. Wall Street Zen downgraded DraftKings from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Benchmark upped their price target on DraftKings from $50.00 to $53.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Citigroup reaffirmed a "buy" rating on shares of DraftKings in a research note on Friday, July 11th. JMP Securities decreased their price objective on DraftKings from $54.00 to $50.00 and set a "market outperform" rating for the company in a report on Thursday, June 5th. Finally, Deutsche Bank Aktiengesellschaft set a $47.00 price objective on DraftKings and gave the stock a "hold" rating in a report on Friday, August 8th. Twenty-four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, DraftKings has a consensus rating of "Moderate Buy" and a consensus target price of $55.12.

Insider Activity at DraftKings

In related news, Director Ryan R. Moore sold 76,390 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $45.92, for a total transaction of $3,507,828.80. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jocelyn Moore sold 4,861 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $43.21, for a total value of $210,043.81. Following the sale, the director directly owned 1,461 shares of the company's stock, valued at $63,129.81. The trade was a 76.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 816,662 shares of company stock valued at $35,460,274 in the last ninety days. Insiders own 51.19% of the company's stock.

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.

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