Y Intercept Hong Kong Ltd Buys New Shares in DraftKings Inc. $DKNG

Y Intercept Hong Kong Ltd bought a new position in DraftKings Inc. (NASDAQ:DKNG) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 111,759 shares of the company’s stock, valued at approximately $2,416,000.

Several other hedge funds have also added to or reduced their stakes in DKNG. Dagco Inc. purchased a new position in shares of DraftKings in the fourth quarter worth about $26,000. Ameriflex Group Inc. boosted its holdings in DraftKings by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 810 shares of the company’s stock valued at $30,000 after acquiring an additional 405 shares during the period. Asset Dedication LLC purchased a new stake in DraftKings during the 3rd quarter valued at about $37,000. Montag A & Associates Inc. grew its position in DraftKings by 82.5% during the 4th quarter. Montag A & Associates Inc. now owns 1,106 shares of the company’s stock worth $38,000 after acquiring an additional 500 shares during the last quarter. Finally, Aventura Private Wealth LLC bought a new position in DraftKings during the 4th quarter worth approximately $39,000. 37.70% of the stock is owned by institutional investors.

DraftKings Price Performance

Shares of DraftKings stock opened at $27.17 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.03. The company has a market cap of $13.48 billion, a PE ratio of 452.83 and a beta of 1.65. The business has a 50 day moving average of $25.59 and a 200 day moving average of $26.53. DraftKings Inc. has a 52 week low of $20.46 and a 52 week high of $48.78.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DKNG. Citizens Jmp boosted their price objective on DraftKings from $34.00 to $36.00 and gave the company a “market outperform” rating in a research report on Thursday, June 25th. Barclays raised their target price on shares of DraftKings from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. TD Cowen reaffirmed a “buy” rating and issued a $30.00 target price on shares of DraftKings in a research note on Monday, June 8th. Raymond James Financial upgraded shares of DraftKings from a “market perform” rating to an “outperform” rating in a report on Friday, April 24th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $32.00 price target on shares of DraftKings in a research report on Sunday, May 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, DraftKings has a consensus rating of “Moderate Buy” and an average target price of $34.24.

Insider Buying and Selling at DraftKings

In other DraftKings news, Director Woodrow Levin sold 34,234 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $25.71, for a total value of $880,156.14. Following the completion of the transaction, the director directly owned 29,820 shares in the company, valued at approximately $766,672.20. This represents a 53.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R Stanton Dodge sold 62,500 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $29.68, for a total transaction of $1,855,000.00. Following the completion of the sale, the insider directly owned 556,258 shares of the company’s stock, valued at approximately $16,509,737.44. This represents a 10.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 97,596 shares of company stock valued at $2,756,991 over the last 90 days. Company insiders own 47.18% of the company’s stock.

DraftKings Company Profile

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.