Mount Yale Investment Advisors LLC Has $557,000 Holdings in DraftKings Inc. (NASDAQ:DKNG)

Mount Yale Investment Advisors LLC grew its position in DraftKings Inc. (NASDAQ:DKNG) by 39.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 14,591 shares of the company’s stock after purchasing an additional 4,118 shares during the period. Mount Yale Investment Advisors LLC’s holdings in DraftKings were worth $557,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in DKNG. Transcendent Capital Group LLC bought a new stake in DraftKings in the 4th quarter valued at $26,000. LRI Investments LLC bought a new stake in shares of DraftKings in the first quarter valued at about $31,000. LifeSteps Financial Inc. acquired a new position in shares of DraftKings in the first quarter valued at about $33,000. Concord Wealth Partners increased its position in DraftKings by 140.2% during the first quarter. Concord Wealth Partners now owns 776 shares of the company’s stock worth $35,000 after acquiring an additional 453 shares during the period. Finally, Alta Advisers Ltd bought a new stake in DraftKings in the 2nd quarter valued at about $38,000. Institutional investors own 37.70% of the company’s stock.

DraftKings Stock Up 0.9 %

Shares of NASDAQ DKNG opened at $39.63 on Tuesday. The company has a 50 day simple moving average of $35.43 and a 200 day simple moving average of $39.40. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.11 and a quick ratio of 1.11. DraftKings Inc. has a 1 year low of $25.73 and a 1 year high of $49.57. The firm has a market cap of $34.45 billion, a PE ratio of -33.58 and a beta of 1.80.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.12 EPS for the quarter, topping 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 company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the business earned ($0.17) earnings per share. DraftKings’s revenue was up 26.2% compared to the same quarter last year. On average, research analysts forecast that DraftKings Inc. will post -0.31 EPS for the current year.

Insider Buying and Selling at DraftKings

In other news, insider Paul Liberman sold 63,206 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $39.00, for a total transaction of $2,465,034.00. Following the completion of the transaction, the insider now directly owns 1,716,406 shares in the company, valued at $66,939,834. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Jason Robins sold 200,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $35.25, for a total transaction of $7,050,000.00. Following the completion of the sale, the insider now directly owns 2,678,082 shares in the company, valued at $94,402,390.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul Liberman sold 63,206 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $39.00, for a total transaction of $2,465,034.00. Following the completion of the transaction, the insider now owns 1,716,406 shares in the company, valued at approximately $66,939,834. The disclosure for this sale can be found here. In the last quarter, insiders have sold 551,647 shares of company stock worth $18,811,071. Insiders own 51.19% of the company’s stock.

Analyst Ratings Changes

DKNG has been the topic of several recent research reports. Berenberg Bank raised shares of DraftKings to a “hold” rating in a report on Friday, May 31st. Guggenheim dropped their price objective on DraftKings from $53.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of DraftKings in a research report on Monday. Bank of America decreased their price target on DraftKings from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Finally, UBS Group upped their price objective on shares of DraftKings from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.78.

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.