UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $50.82 Million Position in DraftKings Inc. $DKNG

Key Points

• UBS AM has increased its stake in DraftKings by 4.5%, now owning approximately 1.53 million shares valued at $50.82 million.
• Research analysts generally maintain a positive outlook on DraftKings, with a consensus rating of "Moderate Buy" and an average target price of $55.12.
• Insider trading activity includes significant sales by directors, with a total of 816,662 shares sold by company insiders over the last 90 days.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,530,232 shares of the company's stock after buying an additional 66,308 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.17% of DraftKings worth $50,819,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Raiffeisen Bank International AG acquired a new position in shares of DraftKings during the fourth quarter worth about $25,000. FNY Investment Advisers LLC acquired a new position in DraftKings during the first quarter valued at approximately $26,000. Smallwood Wealth Investment Management LLC acquired a new position in DraftKings during the first quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in DraftKings during the fourth quarter valued at approximately $28,000. Finally, GPS Wealth Strategies Group LLC boosted its position in DraftKings by 197.9% during the first quarter. GPS Wealth Strategies Group LLC now owns 849 shares of the company's stock valued at $28,000 after purchasing an additional 564 shares during the last quarter. 37.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on DKNG shares. Morgan Stanley reissued an "overweight" rating and set a $52.00 price target (up from $51.00) on shares of DraftKings in a research report on Friday, July 11th. Stifel Nicolaus reduced their price target on DraftKings from $53.00 to $51.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Barclays reissued an "overweight" rating and set a $54.00 price target (up from $51.00) on shares of DraftKings in a research report on Friday, August 8th. JMP Securities reduced their price target on DraftKings from $54.00 to $50.00 and set a "market outperform" rating for the company in a research report on Thursday, June 5th. Finally, Wall Street Zen cut DraftKings from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Twenty-four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, DraftKings currently has a consensus rating of "Moderate Buy" and an average target price of $55.12.

Insider Activity at DraftKings

In other DraftKings news, Director Jocelyn Moore sold 4,861 shares of DraftKings stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $43.21, for a total transaction of $210,043.81. Following the transaction, the director directly owned 1,461 shares of the company's stock, valued at approximately $63,129.81. The trade was a 76.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ryan R. Moore sold 76,390 shares of DraftKings stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $45.92, for a total value of $3,507,828.80. Following the transaction, the director directly owned 402 shares in the company, valued at $18,459.84. The trade was a 99.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 816,662 shares of company stock worth $35,460,274 over the last 90 days. 47.08% of the stock is currently owned by company insiders.

DraftKings Trading Down 4.1%

Shares of NASDAQ:DKNG opened at $43.98 on Monday. The company has a market capitalization of $21.83 billion, a P/E ratio of -67.66, a P/E/G ratio of 1.04 and a beta of 1.73. DraftKings Inc. has a 1 year low of $29.64 and a 1 year high of $53.61. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.34 and a quick ratio of 1.34. The business's 50 day simple moving average is $45.03 and its 200 day simple moving average is $39.64.

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

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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