2 weeks Ago By ABMN Staff
Mark Asset Management LP lowered its position in shares of DraftKings Inc. ( NASDAQ:DKNG – Free Report ) by 71.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission.
The firm owned 104,395 shares of the company’s stock after selling 264,609 shares during the period. Mark Asset Management LP’s holdings in DraftKings were worth $3,985,000 as of its most recent SEC filing. A number of other hedge funds also recently made changes to their positions in DKNG.
Winthrop Advisory Group LLC boosted its holdings in DraftKings by 2.4% in the first quarter. Winthrop Advisory Group LLC now owns 10,452 shares of the company’s stock worth $475,000 after purchasing an additional 244 shares during the period.
ST Germain D J Co. Inc. boosted its holdings in shares of DraftKings by 26.
3% during the first quarter. ST Germain D J Co. Inc.
now owns 1,200 shares of the company’s stock valued at $54,000 after acquiring an additional 250 shares during the period. Hexagon Capital Partners LLC boosted its holdings in shares of DraftKings by 21.0% during the second quarter.
Hexagon Capital Partners LLC now owns 1,651 shares of the company’s stock valued at $63,000 after acquiring an additional 286 shares during the period. Sfmg LLC boosted its holdings in shares of DraftKings by 3.9% during the first quarter.
Sfmg LLC now owns 8,140 shares of the company’s stock valued at $370,000 after acquiring an additional 306 shares during the period. Finally, Brown Lisle Cummings Inc. raised its stake in shares of DraftKings by 32.
5% during the second 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 in the last quarter.
Hedge funds and other institutional investors own 37.70% of the company’s stock. Wall Street Analyst Weigh In A number of equities research analysts recently weighed in on the stock.
BNP Paribas upgraded shares of DraftKings from an “underperform” rating to a “neutral” rating and set a $35.00 price objective on the stock in a research note on Tuesday, September 10th. UBS Group lifted their price objective on shares of DraftKings from $56.
00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Oppenheimer cut their price objective on shares of DraftKings from $58.
00 to $55.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. BMO Capital Markets cut their price objective on shares of DraftKings from $54.
00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Berenberg Bank upgraded shares of DraftKings to a “hold” rating in a research note on Friday, May 31st.
Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $49.74.
Insider Transactions at DraftKings In related news, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $30.72, for a total value of $6,144,000.
00. Following the sale, the insider now owns 2,699,815 shares in the company, valued at approximately $82,938,316.80.
The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink . In other news, insider Paul Liberman sold 88,441 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $35.
64, for a total transaction of $3,152,037.24. Following the completion of the sale, the insider now owns 2,498,483 shares in the company, valued at approximately $89,045,934.
12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website . Also, insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th.
The stock was sold at an average price of $30.72, for a total transaction of $6,144,000.00.
Following the sale, the insider now owns 2,699,815 shares of the company’s stock, valued at approximately $82,938,316.80. The disclosure for this sale can be found here .
Insiders have sold 551,647 shares of company stock valued at $18,811,071 in the last 90 days. 51.19% of the stock is currently owned by corporate insiders.
DraftKings Stock Performance Shares of DKNG opened at $40.94 on Friday. The stock has a market capitalization of $35.
97 billion, a P/E ratio of -34.69 and a beta of 1.80.
The firm’s fifty day simple moving average is $35.55 and its two-hundred day simple moving average is $39.41.
The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.
97. DraftKings Inc. has a 12 month low of $25.
73 and a 12 month high of $49.57. DraftKings ( NASDAQ:DKNG – Get Free Report ) last released its quarterly earnings data on Thursday, August 1st.
The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.
13. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.
11 billion. DraftKings had a negative net margin of 9.45% and a negative return on equity of 43.
11%. The business’s revenue was up 26.2% on a year-over-year basis.
During the same quarter in the prior year, the firm earned ($0.17) EPS. As a group, analysts predict that DraftKings Inc.
will post -0.31 EPS for the current 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. Further Reading Receive News & Ratings for DraftKings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DraftKings and related companies with MarketBeat.
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