Bank of New York Mellon Corp increased its position in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,080,997 shares of the company's stock after acquiring an additional 14,807 shares during the quarter. Bank of New York Mellon Corp owned 0.12% of DraftKings worth $41,262,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Winthrop Advisory Group LLC boosted its stake in shares of DraftKings by 2.4% during the 1st quarter. Winthrop Advisory Group LLC now owns 10,452 shares of the company's stock valued at $475,000 after buying an additional 244 shares during the period. ST Germain D J Co. Inc. boosted its position in DraftKings by 26.3% during the first quarter. ST Germain D J Co. Inc. now owns 1,200 shares of the company's stock worth $54,000 after purchasing an additional 250 shares during the period. Hexagon Capital Partners LLC raised its position in shares of DraftKings by 21.0% in the second 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 during the period. Sfmg LLC lifted its position in DraftKings by 3.9% during the 1st quarter. Sfmg LLC now owns 8,140 shares of the company's stock worth $370,000 after acquiring an additional 306 shares during the last quarter. Finally, Brown Lisle Cummings Inc. boosted its stake in DraftKings by 32.5% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,325 shares of the company's stock valued at $51,000 after purchasing an additional 325 shares during the period. Hedge funds and other institutional investors own 37.70% of the company's stock.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. Oppenheimer cut their target price on DraftKings from $58.00 to $55.00 and set an "outperform" rating for the company in a research note on Monday, August 5th. Guggenheim reduced their price objective on shares of DraftKings from $53.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday, June 26th. Macquarie reissued an "outperform" rating and issued a $50.00 target price on shares of DraftKings in a research note on Monday, August 26th. Wells Fargo & Company decreased their price target on DraftKings from $53.00 to $47.00 and set an "overweight" rating on the stock in a research report on Monday, August 5th. Finally, Needham & Company LLC restated a "buy" rating and set a $60.00 target price on shares of DraftKings in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.56.
Read Our Latest Stock Report on DKNG
Insider Buying and Selling at DraftKings
In other news, Director Harry Sloan sold 250,000 shares of the firm's stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $38.15, for a total value of $9,537,500.00. Following the completion of the transaction, the director now owns 250,000 shares in the company, valued at approximately $9,537,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other DraftKings news, Director Harry Sloan sold 250,000 shares of the firm's stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $38.15, for a total value of $9,537,500.00. Following the completion of the transaction, the director now directly owns 250,000 shares in the company, valued at $9,537,500. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jocelyn Moore sold 1,450 shares of the company's stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $35.92, for a total value of $52,084.00. Following the sale, the director now owns 6,814 shares in the company, valued at approximately $244,758.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,471,987 shares of company stock worth $54,373,654. Insiders own 51.19% of the company's stock.
DraftKings Stock Up 1.8 %
Shares of DraftKings stock traded up $0.61 during trading on Monday, reaching $34.50. The stock had a trading volume of 7,568,700 shares, compared to its average volume of 10,784,006. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $30.31 billion, a price-to-earnings ratio of -29.24 and a beta of 1.81. DraftKings Inc. has a 52 week low of $25.73 and a 52 week high of $49.57. The stock has a fifty day moving average price of $35.59 and a two-hundred day moving average price of $40.01.
DraftKings (NASDAQ:DKNG - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.13. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. DraftKings had a negative return on equity of 43.11% and a negative net margin of 9.45%. The business's revenue was up 26.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.17) EPS. Sell-side analysts predict that DraftKings Inc. will post -0.31 EPS for the current fiscal year.
About DraftKings
(
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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