Eurizon Capital SGR S.p.A. Invests $1.26 Million in DraftKings Inc. $DKNG

Eurizon Capital SGR S.p.A. acquired a new position in shares of DraftKings Inc. (NASDAQ:DKNG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 36,694 shares of the company’s stock, valued at approximately $1,264,000.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of DraftKings by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 44,758,204 shares of the company’s stock worth $1,542,368,000 after acquiring an additional 1,354,457 shares during the last quarter. Viking Global Investors LP bought a new stake in shares of DraftKings during the 3rd quarter worth $561,125,000. AQR Capital Management LLC lifted its holdings in shares of DraftKings by 63.5% during the 3rd quarter. AQR Capital Management LLC now owns 11,685,672 shares of the company’s stock worth $437,044,000 after acquiring an additional 4,538,007 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of DraftKings by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 9,494,860 shares of the company’s stock worth $326,394,000 after acquiring an additional 192,160 shares during the last quarter. Finally, Capital World Investors lifted its holdings in shares of DraftKings by 2.1% during the 3rd quarter. Capital World Investors now owns 6,618,072 shares of the company’s stock worth $247,516,000 after acquiring an additional 138,891 shares during the last quarter. 37.70% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other DraftKings news, insider Paul Liberman sold 484,417 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $25.16, for a total value of $12,187,931.72. Following the completion of the sale, the insider directly owned 213,597 shares of the company’s stock, valued at $5,374,100.52. The trade was a 69.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jocelyn Moore sold 2,150 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $25.60, for a total transaction of $55,040.00. Following the completion of the transaction, the director owned 1,406 shares in the company, valued at $35,993.60. The trade was a 60.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 521,663 shares of company stock valued at $13,144,962 over the last three months. Insiders own 47.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DKNG. Truist Financial dropped their price objective on shares of DraftKings from $33.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. Weiss Ratings downgraded shares of DraftKings from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. Stifel Nicolaus dropped their price objective on shares of DraftKings from $44.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Barclays lifted their price objective on shares of DraftKings from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Finally, Citizens Jmp dropped their price objective on shares of DraftKings from $38.00 to $34.00 and set a “market outperform” rating for the company in a report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.15.

DraftKings Stock Performance

DraftKings stock opened at $25.30 on Wednesday. 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 capitalization of $12.55 billion, a PE ratio of 421.67 and a beta of 1.66. The firm has a fifty day simple moving average of $23.64 and a two-hundred day simple moving average of $27.73. DraftKings Inc. has a twelve month low of $20.46 and a twelve month high of $48.78.

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

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.