EULAV Asset Management lessened its position in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 13.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 221,000 shares of the company's stock after selling 34,000 shares during the quarter. EULAV Asset Management's holdings in DraftKings were worth $8,663,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC lifted its position in shares of DraftKings by 18.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 11,267 shares of the company's stock worth $512,000 after purchasing an additional 1,776 shares during the period. UniSuper Management Pty Ltd increased its position in DraftKings by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 6,000 shares of the company's stock valued at $272,000 after buying an additional 3,000 shares in the last quarter. CreativeOne Wealth LLC purchased a new stake in DraftKings in the first quarter valued at about $297,000. Advisors Asset Management Inc. boosted its holdings in DraftKings by 34.3% in the first quarter. Advisors Asset Management Inc. now owns 21,013 shares of the company's stock worth $954,000 after acquiring an additional 5,368 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC boosted its holdings in DraftKings by 6.3% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 15,145 shares of the company's stock worth $688,000 after acquiring an additional 895 shares in the last quarter. 37.70% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts recently commented on DKNG shares. Susquehanna increased their price objective on shares of DraftKings from $48.00 to $50.00 and gave the company a "positive" rating in a research report on Monday, October 7th. Needham & Company LLC reiterated a "buy" rating and set a $60.00 price objective on shares of DraftKings in a research note on Friday, November 8th. The Goldman Sachs Group cut their target price on DraftKings from $60.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, August 5th. Macquarie lifted their price target on DraftKings from $50.00 to $51.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $48.00 price objective on shares of DraftKings in a report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $50.85.
Check Out Our Latest Research Report on DraftKings
Insider Transactions at DraftKings
In other news, insider Paul Liberman sold 643,654 shares of the business's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $41.24, for a total value of $26,544,290.96. Following the sale, the insider now owns 137,308 shares of the company's stock, valued at approximately $5,662,581.92. The trade was a 82.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 820,536 shares of company stock worth $32,916,465. Company insiders own 48.94% of the company's stock.
DraftKings Stock Performance
DKNG stock traded up $0.59 during midday trading on Wednesday, reaching $43.80. The company had a trading volume of 6,417,351 shares, compared to its average volume of 10,366,321. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17. The stock has a 50 day moving average price of $38.61 and a 200 day moving average price of $37.89. The firm has a market capitalization of $38.57 billion, a PE ratio of -49.10 and a beta of 1.82. DraftKings Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $49.57.
DraftKings (NASDAQ:DKNG - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.18). DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. Analysts anticipate that DraftKings Inc. will post -0.73 earnings per share for the current year.
DraftKings Company Profile
(
Free Report)
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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