Kapitalo Investimentos Ltda Purchases Shares of 7,038 DraftKings Inc. (NASDAQ:DKNG)

Kapitalo Investimentos Ltda purchased a new stake in DraftKings Inc. (NASDAQ:DKNGFree Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,038 shares of the company’s stock, valued at approximately $248,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Highlander Capital Management LLC grew its holdings in DraftKings by 180.0% in the 4th quarter. Highlander Capital Management LLC now owns 700 shares of the company’s stock valued at $25,000 after buying an additional 450 shares during the period. Transcendent Capital Group LLC purchased a new stake in shares of DraftKings during the 4th quarter worth about $26,000. Montag A & Associates Inc. purchased a new stake in shares of DraftKings during the 4th quarter worth about $29,000. FSC Wealth Advisors LLC purchased a new stake in shares of DraftKings during the 4th quarter worth about $37,000. Finally, Householder Group Estate & Retirement Specialist LLC grew its holdings in shares of DraftKings by 154.2% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 1,215 shares of the company’s stock worth $42,000 after purchasing an additional 737 shares during the period. Hedge funds and other institutional investors own 37.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on DKNG shares. Mizuho started coverage on DraftKings in a report on Tuesday, March 26th. They set a “buy” rating and a $58.00 target price for the company. Barclays boosted their target price on DraftKings from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. The Goldman Sachs Group assumed coverage on DraftKings in a report on Tuesday, April 16th. They issued a “buy” rating and a $60.00 price target for the company. UBS Group upped their price target on DraftKings from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Finally, JMP Securities restated a “market outperform” rating and issued a $52.00 price target on shares of DraftKings in a report on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $49.00.

Get Our Latest Report on DKNG

DraftKings Stock Performance

Shares of NASDAQ:DKNG traded up $0.29 on Tuesday, hitting $42.24. The company’s stock had a trading volume of 2,476,441 shares, compared to its average volume of 11,333,946. DraftKings Inc. has a 12 month low of $24.16 and a 12 month high of $49.57. The company has a market capitalization of $36.72 billion, a price-to-earnings ratio of -35.55 and a beta of 1.81. The stock’s 50-day moving average is $41.29 and its two-hundred day moving average is $40.38. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.34 and a current ratio of 1.34.

DraftKings (NASDAQ:DKNGGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.02). DraftKings had a negative return on equity of 62.74% and a negative net margin of 13.45%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the company posted ($0.87) EPS. The company’s revenue for the quarter was up 52.7% compared to the same quarter last year. On average, equities research analysts forecast that DraftKings Inc. will post -0.21 EPS for the current year.

Insider Activity at DraftKings

In other news, Director Jocelyn Moore sold 1,450 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $35.92, for a total transaction of $52,084.00. Following the completion of the sale, the director now directly owns 6,814 shares of the company’s stock, valued at $244,758.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Jocelyn Moore sold 1,450 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $35.92, for a total value of $52,084.00. Following the completion of the sale, the director now directly owns 6,814 shares of the company’s stock, valued at approximately $244,758.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Harry Sloan sold 250,000 shares of the stock in a transaction dated Friday, June 14th. The stock was 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 of the company’s stock, valued at $9,537,500. The disclosure for this sale can be found here. Insiders sold 851,450 shares of company stock valued at $35,023,584 over the last 90 days. 48.94% of the stock is currently owned by corporate insiders.

About DraftKings

(Free Report)

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.

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Institutional Ownership by Quarter for DraftKings (NASDAQ:DKNG)

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