2,288 Shares in DraftKings Inc. (NASDAQ:DKNG) Bought by Quarry LP

Quarry LP purchased a new stake in DraftKings Inc. (NASDAQ:DKNG) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,288 shares of the company’s stock, valued at approximately $87,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of DraftKings by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 40,011,855 shares of the company’s stock worth $1,816,938,000 after acquiring an additional 747,937 shares during the period. Marshall Wace LLP lifted its stake in DraftKings by 53.3% during the second quarter. Marshall Wace LLP now owns 9,410,431 shares of the company’s stock worth $359,196,000 after purchasing an additional 3,269,932 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of DraftKings by 8.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,777,271 shares of the company’s stock valued at $220,518,000 after purchasing an additional 441,975 shares in the last quarter. First Trust Advisors LP increased its stake in shares of DraftKings by 148.2% in the 4th quarter. First Trust Advisors LP now owns 4,235,008 shares of the company’s stock valued at $149,284,000 after purchasing an additional 2,528,503 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in shares of DraftKings by 20.6% during the 1st quarter. Lord Abbett & CO. LLC now owns 3,884,680 shares of the company’s stock worth $176,403,000 after buying an additional 663,427 shares in the last quarter. Institutional investors own 37.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DKNG. Guggenheim decreased their target price on DraftKings from $53.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. 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. Stifel Nicolaus restated a “buy” rating and issued a $48.00 target price (down previously from $50.00) on shares of DraftKings in a research report on Monday, August 5th. BMO Capital Markets decreased their target price on shares of DraftKings from $54.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Wells Fargo & Company dropped their price target on DraftKings from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. 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 a consensus rating of “Moderate Buy” and an average price target of $49.74.

DraftKings Stock Down 1.5 %

Shares of NASDAQ DKNG opened at $37.67 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.97. The firm has a market cap of $32.74 billion, a PE ratio of -31.92 and a beta of 1.81. The company’s fifty day simple moving average is $35.72 and its 200 day simple moving average is $39.30. DraftKings Inc. has a 12-month low of $25.73 and a 12-month high of $49.57.

DraftKings (NASDAQ:DKNG) last issued its earnings results on Thursday, August 1st. The company reported $0.12 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.13. DraftKings had a negative return on equity of 43.11% and a negative net margin of 9.45%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the business posted ($0.17) EPS. The firm’s revenue for the quarter was up 26.2% compared to the same quarter last year. As a group, sell-side analysts forecast that DraftKings Inc. will post -0.31 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Paul Liberman sold 643,654 shares of DraftKings stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $41.24, for a total value of $26,544,290.96. Following the completion of the sale, the insider now owns 137,308 shares of the company’s stock, valued at approximately $5,662,581.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Paul Liberman sold 643,654 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $41.24, for a total value of $26,544,290.96. Following the transaction, the insider now owns 137,308 shares of the company’s stock, valued at approximately $5,662,581.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $30.72, for a total value of $6,144,000.00. Following the sale, the insider now directly owns 2,699,815 shares of the company’s stock, valued at $82,938,316.80. The disclosure for this sale can be found here. Insiders sold a total of 1,195,301 shares of company stock worth $45,355,362 over the last quarter. 51.19% of the stock is currently owned by corporate insiders.

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.