Focus Partners Advisor Solutions LLC Buys 2,810 Shares of DraftKings Inc. $DKNG

Focus Partners Advisor Solutions LLC increased its holdings in DraftKings Inc. (NASDAQ:DKNG) by 12.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,088 shares of the company’s stock after acquiring an additional 2,810 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in DraftKings were worth $1,076,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Smallwood Wealth Investment Management LLC bought a new position in shares of DraftKings in the first quarter valued at approximately $27,000. Bank of Jackson Hole Trust bought a new position in shares of DraftKings in the first quarter valued at approximately $31,000. TD Private Client Wealth LLC grew its holdings in shares of DraftKings by 54.4% in the second quarter. TD Private Client Wealth LLC now owns 800 shares of the company’s stock valued at $34,000 after acquiring an additional 282 shares in the last quarter. Summit Securities Group LLC grew its holdings in shares of DraftKings by 349.1% in the first quarter. Summit Securities Group LLC now owns 1,042 shares of the company’s stock valued at $35,000 after acquiring an additional 810 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in shares of DraftKings in the second quarter valued at approximately $48,000. 37.70% of the stock is owned by institutional investors.

DraftKings Trading Down 0.1%

NASDAQ:DKNG opened at $32.96 on Tuesday. The company has a market cap of $16.36 billion, a P/E ratio of -50.71, a P/E/G ratio of 0.82 and a beta of 1.99. The stock’s fifty day moving average price is $40.97 and its two-hundred day moving average price is $39.69. DraftKings Inc. has a 1 year low of $29.64 and a 1 year high of $53.61. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.34 and a quick ratio of 1.34.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.14. DraftKings had a negative return on equity of 30.06% and a negative net margin of 5.63%.The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the business posted $0.12 earnings per share. The firm’s revenue was up 36.9% compared to the same quarter last year. DraftKings has set its FY 2025 guidance at EPS. As a group, analysts expect that DraftKings Inc. will post 0.64 EPS for the current year.

Insider Buying and Selling

In related news, Director Ryan R. Moore sold 76,390 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $45.92, for a total value of $3,507,828.80. Following the sale, the director owned 402 shares in the company, valued at approximately $18,459.84. This trade represents a 99.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jocelyn Moore sold 4,861 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $43.21, for a total value of $210,043.81. Following the completion of the sale, the director owned 1,461 shares in the company, valued at $63,129.81. This trade represents a 76.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 605,554 shares of company stock valued at $26,515,100 in the last ninety days. 47.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DKNG. Citigroup reaffirmed a “neutral” rating on shares of DraftKings in a report on Wednesday, October 1st. Northland Securities set a $30.00 target price on DraftKings in a report on Monday, October 13th. Jefferies Financial Group set a $52.00 price objective on DraftKings in a report on Monday, October 6th. JMP Securities reduced their price objective on DraftKings from $54.00 to $51.00 and set a “market outperform” rating for the company in a report on Wednesday, October 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of DraftKings in a report on Wednesday, October 8th. Twenty-seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.79.

DraftKings 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.