Nisa Investment Advisors LLC Buys 600 Shares of DraftKings Inc. (NASDAQ:DKNG)

Nisa Investment Advisors LLC grew its stake in DraftKings Inc. (NASDAQ:DKNG) by 0.8% in the 3rd quarter, Holdings Channel reports. The firm owned 72,506 shares of the company’s stock after purchasing an additional 600 shares during the period. Nisa Investment Advisors LLC’s holdings in DraftKings were worth $2,842,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Marshall Wace LLP raised its stake in DraftKings by 53.3% in the second quarter. Marshall Wace LLP now owns 9,410,431 shares of the company’s stock worth $359,196,000 after buying an additional 3,269,932 shares in the last quarter. Jupiter Asset Management Ltd. raised its position in shares of DraftKings by 1,261.7% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 1,612,405 shares of the company’s stock worth $61,545,000 after acquiring an additional 1,493,995 shares in the last quarter. Blue Whale Capital LLP purchased a new position in shares of DraftKings in the 2nd quarter valued at approximately $39,306,000. Kodai Capital Management LP bought a new stake in shares of DraftKings during the first quarter valued at approximately $41,276,000. Finally, AQR Capital Management LLC grew its stake in DraftKings by 29.0% in the second quarter. AQR Capital Management LLC now owns 3,877,581 shares of the company’s stock worth $144,905,000 after purchasing an additional 870,789 shares during the period. 37.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DKNG has been the subject of several recent research reports. Benchmark reissued a “buy” rating and set a $44.00 price objective on shares of DraftKings in a research report on Monday, October 7th. Wells Fargo & Company upped their price objective on shares of DraftKings from $47.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Macquarie reaffirmed an “outperform” rating and set a $50.00 target price on shares of DraftKings in a research note on Monday, August 26th. Barclays boosted their price target on DraftKings from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Finally, Mizuho raised their price objective on DraftKings from $54.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.22.

Insider Activity at DraftKings

In other DraftKings news, insider Jason Robins sold 200,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $30.72, for a total value of $6,144,000.00. Following the transaction, the insider now directly owns 2,699,815 shares in the company, valued at approximately $82,938,316.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 2,699,815 shares of the company’s stock, valued at approximately $82,938,316.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Liberman sold 88,441 shares of the company’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 completion of the sale, the insider now owns 2,498,483 shares of the company’s stock, valued at approximately $89,045,934.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,220,536 shares of company stock worth $46,110,465. 51.19% of the stock is owned by company insiders.

DraftKings Stock Up 1.0 %

DraftKings stock opened at $35.69 on Friday. DraftKings Inc. has a one year low of $27.67 and a one year high of $49.57. The stock has a fifty day moving average of $37.33 and a 200 day moving average of $38.09. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $31.36 billion, a PE ratio of -40.10 and a beta of 1.81.

DraftKings (NASDAQ:DKNG) last released its quarterly 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. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. DraftKings had a negative net margin of 9.45% and a negative return on equity of 43.11%. The business’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.17) EPS. As a group, sell-side analysts predict that DraftKings Inc. will post -0.31 EPS for the current year.

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.