Hantz Financial Services Inc. Invests $61,000 in DraftKings Inc. (NASDAQ:DKNG)

Hantz Financial Services Inc. acquired a new stake in DraftKings Inc. (NASDAQ:DKNG) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 1,599 shares of the company’s stock, valued at approximately $61,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DKNG. LRI Investments LLC acquired a new position in shares of DraftKings during the first quarter worth approximately $31,000. LifeSteps Financial Inc. acquired a new position in DraftKings during the 1st quarter worth $33,000. Transcendent Capital Group LLC bought a new position in shares of DraftKings in the fourth quarter worth $26,000. Concord Wealth Partners increased its holdings in shares of DraftKings by 140.2% during the first quarter. Concord Wealth Partners now owns 776 shares of the company’s stock valued at $35,000 after purchasing an additional 453 shares during the period. Finally, Montag A & Associates Inc. bought a new stake in shares of DraftKings during the fourth quarter valued at about $29,000. 37.70% of the stock is owned by institutional investors and hedge funds.

DraftKings Price Performance

Shares of DKNG opened at $34.50 on Tuesday. The business’s 50-day moving average is $35.48 and its 200-day moving average is $39.94. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $30.31 billion, a price-to-earnings ratio of -29.24 and a beta of 1.81. DraftKings Inc. has a fifty-two week low of $25.73 and a fifty-two week high of $49.57.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.13. DraftKings had a negative net margin of 9.45% and a negative return on equity of 43.11%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the firm posted ($0.17) earnings per share. The firm’s revenue was up 26.2% on a year-over-year basis. Equities research analysts expect that DraftKings Inc. will post -0.31 EPS for the current fiscal year.

Insider Transactions at DraftKings

In other DraftKings news, insider Paul Liberman sold 88,441 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 2,498,483 shares in the company, valued at $89,045,934.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other DraftKings news, Director Harry Sloan sold 250,000 shares of DraftKings stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $38.15, for a total value of $9,537,500.00. Following the completion of the sale, the director now directly owns 250,000 shares in the company, valued at $9,537,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Liberman sold 88,441 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was 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 directly owns 2,498,483 shares of the company’s stock, valued at $89,045,934.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,471,987 shares of company stock valued at $54,373,654. 51.19% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Guggenheim decreased their target price on shares of DraftKings from $53.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Bank of America lowered their price objective on shares of DraftKings from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Morgan Stanley cut their target price on DraftKings from $51.00 to $47.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. Wells Fargo & Company lowered their price target on DraftKings from $53.00 to $47.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Finally, UBS Group upped their price objective on DraftKings from $56.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.56.

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.