DraftKings Inc. (NASDAQ:DKNG) Shares Bought by Hodges Capital Management Inc.

Hodges Capital Management Inc. increased its holdings in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 776,672 shares of the company's stock after buying an additional 24,282 shares during the period. DraftKings comprises 2.0% of Hodges Capital Management Inc.'s investment portfolio, making the stock its 11th largest holding. Hodges Capital Management Inc. owned approximately 0.09% of DraftKings worth $30,446,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in DKNG. Park Avenue Securities LLC raised its position in DraftKings by 11.0% in the 2nd quarter. Park Avenue Securities LLC now owns 19,546 shares of the company's stock valued at $746,000 after purchasing an additional 1,943 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of DraftKings by 78.9% in the 2nd quarter. QRG Capital Management Inc. now owns 51,375 shares of the company's stock valued at $1,961,000 after purchasing an additional 22,653 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of DraftKings by 21.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,651 shares of the company's stock valued at $63,000 after purchasing an additional 286 shares in the last quarter. Roman Butler Fullerton & Co. increased its holdings in DraftKings by 11.8% in the second quarter. Roman Butler Fullerton & Co. now owns 24,279 shares of the company's stock valued at $890,000 after buying an additional 2,570 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in DraftKings by 24.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 32,975 shares of the company's stock valued at $1,259,000 after buying an additional 6,425 shares in the last quarter. 37.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at DraftKings

In related news, insider Paul Liberman sold 643,654 shares of the business's stock in a transaction dated 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 transaction, the insider now owns 137,308 shares in the company, valued at approximately $5,662,581.92. The trade was a 82.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jason Robins sold 3,151 shares of DraftKings stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $43.71, for a total value of $137,730.21. Following the sale, the insider now owns 2,631,033 shares in the company, valued at $115,002,452.43. This represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 735,246 shares of company stock valued at $29,902,158 over the last quarter. Company insiders own 51.19% of the company's stock.

DraftKings Trading Down 1.3 %

Shares of NASDAQ DKNG traded down $0.58 during trading on Friday, hitting $44.26. 11,346,291 shares of the company traded hands, compared to its average volume of 10,040,599. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $49.57. The firm has a market capitalization of $38.98 billion, a P/E ratio of -50.29 and a beta of 1.87. 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 company has a 50-day moving average price of $39.77 and a 200-day moving average price of $37.88.

DraftKings (NASDAQ:DKNG - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.18). DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. On average, equities analysts predict that DraftKings Inc. will post -0.79 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on DKNG shares. TD Cowen increased their price objective on DraftKings from $50.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Wells Fargo & Company boosted their target price on DraftKings from $47.00 to $52.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Truist Financial reaffirmed a "buy" rating and issued a $50.00 target price on shares of DraftKings in a report on Wednesday, August 14th. Macquarie upped their price objective on DraftKings from $50.00 to $51.00 and gave the company an "outperform" rating in a research note on Monday, November 11th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $60.00 price objective on shares of DraftKings in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, DraftKings has an average rating of "Moderate Buy" and a consensus price target of $51.04.

About DraftKings

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.