Janney Montgomery Scott LLC Purchases 128,676 Shares of DraftKings Inc. (NASDAQ:DKNG)

Janney Montgomery Scott LLC boosted its position in DraftKings Inc. (NASDAQ:DKNG) by 51.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 378,227 shares of the company’s stock after purchasing an additional 128,676 shares during the period. Janney Montgomery Scott LLC’s holdings in DraftKings were worth $14,826,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Global Retirement Partners LLC raised its position in shares of DraftKings by 0.6% in the third quarter. Global Retirement Partners LLC now owns 47,067 shares of the company’s stock valued at $1,845,000 after purchasing an additional 273 shares during the period. Hexagon Capital Partners LLC raised its holdings in DraftKings by 21.0% in the 2nd 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 lifted its position in DraftKings by 3.9% during the first 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. Creative Financial Designs Inc. ADV boosted its holdings in shares of DraftKings by 36.8% during the third quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock worth $47,000 after acquiring an additional 320 shares during the period. Finally, Brown Lisle Cummings Inc. grew its position in shares of DraftKings by 32.5% in 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 during the last quarter. Institutional investors own 37.70% of the company’s stock.

Wall Street Analysts Forecast Growth

DKNG has been the subject of several recent research reports. Barclays boosted their price target on DraftKings from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. upped their price target on shares of DraftKings from $48.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Wells Fargo & Company lifted their price objective on shares of DraftKings from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Bank of America decreased their target price on shares of DraftKings from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Finally, The Goldman Sachs Group dropped their price target on shares of DraftKings from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.22.

Insider Activity at DraftKings

In other DraftKings news, insider Paul Liberman sold 88,441 shares of the business’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 sale, the insider now directly owns 2,498,483 shares of the company’s stock, valued at $89,045,934.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other DraftKings news, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $35.25, for a total transaction of $7,050,000.00. Following the transaction, the insider now directly owns 2,678,082 shares of the company’s stock, valued at approximately $94,402,390.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Liberman sold 88,441 shares of DraftKings stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.64, for a total value of $3,152,037.24. Following the completion of the transaction, the insider now directly owns 2,498,483 shares in the company, valued at approximately $89,045,934.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,020,536 shares of company stock worth $39,966,465 in the last quarter. 51.19% of the stock is owned by insiders.

DraftKings Price Performance

DraftKings stock opened at $38.25 on Thursday. The company has a market capitalization of $33.60 billion, a PE ratio of -42.98 and a beta of 1.82. 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 stock has a 50-day moving average price of $37.37 and a two-hundred day moving average price of $37.94. DraftKings Inc. has a 12 month low of $28.69 and a 12 month high of $49.57.

DraftKings Company 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.