Stephens Inc. AR Has $1.30 Million Stock Position in DraftKings Inc. (NASDAQ:DKNG)

Stephens Inc. AR decreased its position in DraftKings Inc. (NASDAQ:DKNG) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 33,278 shares of the company’s stock after selling 550 shares during the quarter. Stephens Inc. AR’s holdings in DraftKings were worth $1,304,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Global Retirement Partners LLC raised its position in shares of DraftKings by 0.6% during the 3rd quarter. Global Retirement Partners LLC now owns 47,067 shares of the company’s stock valued at $1,845,000 after acquiring an additional 273 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in shares of DraftKings by 21.0% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,651 shares of the company’s stock worth $63,000 after purchasing an additional 286 shares in the last quarter. Sfmg LLC raised 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 in the last quarter. Brown Lisle Cummings Inc. lifted its stake in DraftKings by 32.5% in the 2nd 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. Finally, HighMark Wealth Management LLC increased its holdings in shares of DraftKings by 18.3% during the 2nd quarter. HighMark Wealth Management LLC now owns 2,129 shares of the company’s stock worth $81,000 after acquiring an additional 329 shares during the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

DraftKings Price Performance

Shares of NASDAQ:DKNG opened at $35.69 on Tuesday. The company’s fifty day moving average is $37.35 and its 200 day moving average is $37.97. DraftKings Inc. has a 52 week low of $28.69 and a 52 week high of $49.57. The stock has a market cap of $31.36 billion, a PE ratio of -40.10 and a beta of 1.83. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.97.

Analyst Upgrades and Downgrades

Several analysts have weighed in on DKNG shares. Truist Financial reiterated a “buy” rating and issued a $50.00 price objective on shares of DraftKings in a research note on Wednesday, August 14th. Stifel Nicolaus reiterated a “buy” rating and set a $48.00 price target (down previously from $50.00) on shares of DraftKings in a report on Monday, August 5th. Needham & Company LLC restated a “buy” rating and issued a $60.00 price target on shares of DraftKings in a research report on Monday, September 23rd. Benchmark reiterated a “buy” rating and set a $44.00 target price on shares of DraftKings in a research report on Monday, October 7th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $48.00 price objective on shares of DraftKings in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.22.

Insider Activity

In other DraftKings news, insider Paul Liberman sold 88,441 shares of DraftKings stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $36.41, for a total value of $3,220,136.81. Following the transaction, the insider now directly owns 1,923,483 shares of the company’s stock, valued at $70,034,016.03. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other DraftKings news, insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $35.25, for a total value of $7,050,000.00. Following the sale, the insider now owns 2,678,082 shares of the company’s stock, valued at $94,402,390.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Liberman sold 88,441 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $36.41, for a total transaction of $3,220,136.81. Following the completion of the transaction, the insider now owns 1,923,483 shares in the company, valued at $70,034,016.03. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,220,536 shares of company stock valued at $46,110,465. Insiders own 51.19% of the company’s stock.

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.