5,369 Shares in DraftKings Inc. $DKNG Acquired by Mutual Advisors LLC

Mutual Advisors LLC purchased a new position in shares of DraftKings Inc. (NASDAQ:DKNG) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 5,369 shares of the company’s stock, valued at approximately $241,000.

Other hedge funds have also added to or reduced their stakes in the company. TD Private Client Wealth LLC lifted its holdings in DraftKings by 54.4% during the 2nd quarter. TD Private Client Wealth LLC now owns 800 shares of the company’s stock worth $34,000 after purchasing an additional 282 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in DraftKings during the 1st quarter worth approximately $27,000. Bank of Jackson Hole Trust acquired a new stake in DraftKings during the 1st quarter worth approximately $31,000. Summit Securities Group LLC raised its holdings in DraftKings by 349.1% in the 1st quarter. Summit Securities Group LLC now owns 1,042 shares of the company’s stock valued at $35,000 after acquiring an additional 810 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in DraftKings in the 2nd quarter valued at $48,000. 37.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on DKNG shares. BTIG Research dropped their price objective on DraftKings from $53.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, October 2nd. Wall Street Zen cut DraftKings from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Stifel Nicolaus dropped their price objective on DraftKings from $53.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Oppenheimer dropped their price objective on DraftKings from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, October 1st. Finally, Susquehanna dropped their price objective on DraftKings from $64.00 to $59.00 and set a “positive” rating for the company in a report on Tuesday, October 14th. Twenty-seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.83.

Insider Buying and Selling at DraftKings

In related news, Director Jocelyn Moore sold 4,861 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $43.21, for a total transaction of $210,043.81. Following the sale, the director owned 1,461 shares in the company, valued at $63,129.81. The trade was a 76.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Matthew Kalish sold 210,000 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $42.90, for a total value of $9,009,000.00. Following the sale, the insider owned 4,190,233 shares in the company, valued at $179,760,995.70. This represents a 4.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 552,777 shares of company stock worth $24,690,599 over the last three months. 47.08% of the stock is owned by corporate insiders.

DraftKings Price Performance

DraftKings stock opened at $33.62 on Wednesday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.34 and a current ratio of 1.34. DraftKings Inc. has a 52 week low of $29.64 and a 52 week high of $53.61. The stock has a market capitalization of $16.69 billion, a P/E ratio of -51.72, a price-to-earnings-growth ratio of 0.84 and a beta of 1.99. The stock has a fifty day moving average of $41.81 and a 200-day moving average of $39.64.

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

DraftKings 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.