DraftKings Inc. (NASDAQ:DKNG) Shares Bought by Financial Counselors Inc.

Financial Counselors Inc. lifted its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 0.9% during the third quarter, Holdings Channel.com reports. The firm owned 101,356 shares of the company’s stock after acquiring an additional 909 shares during the period. Financial Counselors Inc.’s holdings in DraftKings were worth $3,973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Marshall Wace LLP grew its position in DraftKings by 53.3% during the second quarter. Marshall Wace LLP now owns 9,410,431 shares of the company’s stock valued at $359,196,000 after buying an additional 3,269,932 shares during the period. Jupiter Asset Management Ltd. grew its position in shares of DraftKings by 1,261.7% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 1,612,405 shares of the company’s stock valued at $61,545,000 after acquiring an additional 1,493,995 shares during the period. Blue Whale Capital LLP purchased a new position in shares of DraftKings in the 2nd quarter valued at about $39,306,000. AQR Capital Management LLC raised its holdings in DraftKings by 29.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,877,581 shares of the company’s stock worth $144,905,000 after purchasing an additional 870,789 shares during the period. Finally, FMR LLC raised its holdings in DraftKings by 14.7% in the 3rd quarter. FMR LLC now owns 6,467,066 shares of the company’s stock worth $253,509,000 after purchasing an additional 826,626 shares during the period. 37.70% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at DraftKings

In other DraftKings news, insider Jason Robins sold 3,151 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $43.71, for a total value of $137,730.21. Following the transaction, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul Liberman sold 643,654 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $41.24, for a total transaction of $26,544,290.96. Following the sale, the insider now owns 137,308 shares of the company’s stock, valued at $5,662,581.92. This represents a 82.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 735,246 shares of company stock valued at $29,902,158. Insiders own 51.19% of the company’s stock.

DraftKings Price Performance

DKNG stock opened at $43.03 on Friday. The business’s 50-day moving average is $39.27 and its two-hundred day moving average is $37.96. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $37.89 billion, a P/E ratio of -48.90 and a beta of 1.82. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $49.57.

DraftKings (NASDAQ:DKNG) last issued its earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.18). DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.12 billion. Analysts anticipate that DraftKings Inc. will post -0.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on DKNG. Morgan Stanley boosted their price target on shares of DraftKings from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Benchmark reaffirmed a “buy” rating and issued a $44.00 price target on shares of DraftKings in a report on Monday, October 7th. JPMorgan Chase & Co. upped their target price on DraftKings from $48.00 to $54.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. The Goldman Sachs Group dropped their price objective on shares of DraftKings from $60.00 to $54.00 and set a “buy” rating for the company in a report on Monday, August 5th. Finally, Mizuho lifted their target price on shares of DraftKings from $54.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, DraftKings currently has an average rating of “Moderate Buy” and an average price target of $51.04.

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.