DraftKings Inc. $DKNG Shares Purchased by WINTON GROUP Ltd

WINTON GROUP Ltd increased its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 773.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 319,451 shares of the company’s stock after acquiring an additional 282,857 shares during the period. WINTON GROUP Ltd owned approximately 0.06% of DraftKings worth $11,008,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of DKNG. Integrated Wealth Concepts LLC grew its position in shares of DraftKings by 5.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 9,460 shares of the company’s stock valued at $314,000 after acquiring an additional 524 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of DraftKings by 1,141.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,044 shares of the company’s stock valued at $1,463,000 after acquiring an additional 40,495 shares during the period. Empowered Funds LLC grew its position in shares of DraftKings by 18.0% during the 1st quarter. Empowered Funds LLC now owns 9,115 shares of the company’s stock valued at $303,000 after acquiring an additional 1,391 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of DraftKings during the 2nd quarter valued at about $603,000. Finally, Daiwa Securities Group Inc. boosted its holdings in DraftKings by 2.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 44,102 shares of the company’s stock worth $1,892,000 after buying an additional 968 shares during the last quarter. 37.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DKNG shares. Zacks Research upgraded DraftKings from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Needham & Company LLC reiterated a “buy” rating and issued a $35.00 price objective on shares of DraftKings in a report on Monday, May 11th. Stephens started coverage on DraftKings in a report on Friday, April 24th. They issued an “overweight” rating on the stock. HSBC upgraded DraftKings from a “hold” rating to a “hold” rating in a report on Friday, April 24th. Finally, Roth Mkm upgraded DraftKings from a “sell” rating to a “buy” rating in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.35.

DraftKings Trading Down 1.7%

DKNG opened at $24.93 on Friday. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.02 and a quick ratio of 1.02. The company’s 50 day simple moving average is $23.80 and its two-hundred day simple moving average is $27.61. DraftKings Inc. has a 1-year low of $20.46 and a 1-year high of $48.78. The firm has a market capitalization of $12.37 billion, a price-to-earnings ratio of 415.50 and a beta of 1.66.

DraftKings (NASDAQ:DKNG) last released its earnings results on Friday, May 8th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). DraftKings had a return on equity of 13.51% and a net margin of 0.93%.The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the business earned ($0.07) earnings per share. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. Analysts expect that DraftKings Inc. will post 0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other DraftKings news, Director Jocelyn Moore sold 2,150 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $25.60, for a total value of $55,040.00. Following the transaction, the director directly owned 1,406 shares of the company’s stock, valued at $35,993.60. This trade represents a 60.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Woodrow Levin sold 34,234 shares of DraftKings stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $25.71, for a total transaction of $880,156.14. Following the sale, the director directly owned 29,820 shares in the company, valued at approximately $766,672.20. The trade was a 53.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 521,663 shares of company stock valued at $13,144,962 in the last ninety days. 47.18% of the stock is currently owned by corporate insiders.

About DraftKings

DraftKings Inc is a leading digital sports entertainment and gaming company specializing in daily fantasy sports, sports betting and iGaming products. The company provides an integrated platform where users can participate in daily fantasy contests, place wagers on professional sports events, and enjoy a range of online casino-style games. DraftKings’ proprietary technology supports real-time odds, live scoring and advanced analytics to enhance the user experience across mobile and desktop applications.

Founded in 2012 by co-founders Jason Robins, Matthew Kalish and Paul Liberman, DraftKings began as a daily fantasy sports provider and rapidly expanded into regulated sports betting following legislative changes in the United States.