Bokf Na Buys 23,848 Shares of DraftKings Inc. (NASDAQ:DKNG)

Bokf Na raised its stake in DraftKings Inc. (NASDAQ:DKNG) by 2,193.9% in the first quarter, Holdings Channel.com reports. The firm owned 24,935 shares of the company’s stock after acquiring an additional 23,848 shares during the period. Bokf Na’s holdings in DraftKings were worth $1,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Highlander Capital Management LLC lifted its holdings in shares of DraftKings by 180.0% during the 4th quarter. Highlander Capital Management LLC now owns 700 shares of the company’s stock worth $25,000 after acquiring an additional 450 shares during the period. Transcendent Capital Group LLC bought a new position in DraftKings during the 4th quarter valued at about $26,000. Montag A & Associates Inc. acquired a new stake in DraftKings in the 4th quarter valued at about $29,000. LRI Investments LLC acquired a new stake in DraftKings in the 1st quarter valued at about $31,000. Finally, LifeSteps Financial Inc. acquired a new stake in DraftKings in the 1st quarter valued at about $33,000. 37.70% of the stock is owned by institutional investors.

DraftKings Trading Up 0.3 %

DraftKings stock traded up $0.12 during mid-day trading on Monday, hitting $36.42. 1,237,947 shares of the stock were exchanged, compared to its average volume of 10,797,352. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.51. DraftKings Inc. has a 12 month low of $25.41 and a 12 month high of $49.57. The firm’s fifty day simple moving average is $38.43 and its two-hundred day simple moving average is $40.97. The stock has a market capitalization of $31.66 billion, a price-to-earnings ratio of -30.76 and a beta of 1.81.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.02). DraftKings had a negative return on equity of 62.74% and a negative net margin of 13.45%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the business posted ($0.87) EPS. The firm’s revenue for the quarter was up 52.7% compared to the same quarter last year. Analysts forecast that DraftKings Inc. will post -0.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DKNG shares. Morgan Stanley boosted their price target on shares of DraftKings from $49.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft upped their target price on shares of DraftKings from $34.00 to $35.00 and gave the company a “hold” rating in a research note on Monday, May 6th. BMO Capital Markets upped their target price on shares of DraftKings from $51.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Benchmark upped their target price on shares of DraftKings from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, Barclays reduced their price target on shares of DraftKings from $54.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat.com, DraftKings presently has an average rating of “Moderate Buy” and a consensus target price of $49.67.

Insider Activity

In other news, insider Paul Liberman sold 668,890 shares of DraftKings stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $38.83, for a total value of $25,972,998.70. Following the completion of the sale, the insider now owns 205,962 shares in the company, valued at approximately $7,997,504.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Jocelyn Moore sold 1,450 shares of DraftKings stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $35.92, for a total value of $52,084.00. Following the completion of the sale, the director now owns 6,814 shares of the company’s stock, valued at approximately $244,758.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Paul Liberman sold 668,890 shares of DraftKings stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $38.83, for a total transaction of $25,972,998.70. Following the transaction, the insider now directly owns 205,962 shares in the company, valued at $7,997,504.46. The disclosure for this sale can be found here. Insiders sold 1,383,546 shares of company stock worth $55,279,617 in the last quarter. 51.19% of the stock is owned by corporate insiders.

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.