FinTrust Capital Advisors LLC purchased a new position in shares of DraftKings Inc. (NASDAQ:DKNG) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 900 shares of the company’s stock, valued at approximately $53,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TD Asset Management Inc. boosted its position in shares of DraftKings by 7.3% during the third quarter. TD Asset Management Inc. now owns 117,000 shares of the company’s stock worth $6,884,000 after buying an additional 8,000 shares during the period. Jaffetilchin Investment Partners LLC purchased a new position in shares of DraftKings during the third quarter worth $619,000. Morse Asset Management Inc purchased a new position in shares of DraftKings during the third quarter worth $313,000. National Asset Management Inc. boosted its position in shares of DraftKings by 95.0% during the third quarter. National Asset Management Inc. now owns 15,005 shares of the company’s stock worth $853,000 after buying an additional 7,310 shares during the period. Finally, Sandy Spring Bank boosted its position in shares of DraftKings by 297.7% during the third quarter. Sandy Spring Bank now owns 875 shares of the company’s stock worth $52,000 after buying an additional 655 shares during the period. Institutional investors and hedge funds own 48.08% of the company’s stock.
DKNG opened at $48.23 on Friday. The business’s 50-day simple moving average is $45.42 and its 200-day simple moving average is $38.83. DraftKings Inc. has a one year low of $10.04 and a one year high of $64.19.
DraftKings (NASDAQ:DKNG) last posted its earnings results on Wednesday, November 18th. The company reported ($0.98) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.63) by ($0.35). The firm had revenue of $132.80 million during the quarter, compared to analyst estimates of $131.66 million. The business’s revenue was up 42.3% on a year-over-year basis. As a group, equities research analysts anticipate that DraftKings Inc. will post -1.84 EPS for the current year.
In other news, Director Steven Joseph Murray sold 1,545,924 shares of DraftKings stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $50.83, for a total transaction of $78,579,316.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lowered their price target on DraftKings from $48.00 to $46.00 and set a “hold” rating for the company in a research report on Monday, November 16th. BidaskClub upgraded DraftKings from a “sell” rating to a “hold” rating in a report on Friday, November 6th. Macquarie initiated coverage on DraftKings in a report on Thursday, September 24th. They issued an “outperform” rating and a $65.00 target price for the company. Needham & Company LLC initiated coverage on DraftKings in a report on Wednesday, September 30th. They issued a “buy” rating and a $70.00 target price for the company. Finally, Zacks Investment Research lowered DraftKings from a “hold” rating to a “sell” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $56.38.
DraftKings Inc operates as a digital sports entertainment and gaming company in the United States. The company provides users with daily sports, sports betting, and iGaming opportunities. It is also involved in the design and development of sports betting and casino gaming platform software for online and retail sportsbook, and casino gaming products.
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