Janus Henderson Group PLC Buys 8,524,923 Shares of DraftKings Inc. $DKNG

Janus Henderson Group PLC lifted its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 50.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 25,313,909 shares of the company’s stock after purchasing an additional 8,524,923 shares during the period. Janus Henderson Group PLC owned about 0.05% of DraftKings worth $858,893,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. IHT Wealth Management LLC grew its holdings in shares of DraftKings by 4.1% during the second quarter. IHT Wealth Management LLC now owns 6,271 shares of the company’s stock worth $269,000 after buying an additional 248 shares in the last quarter. Orion Porfolio Solutions LLC grew its stake in DraftKings by 3.1% in the third quarter. Orion Porfolio Solutions LLC now owns 10,608 shares of the company’s stock valued at $397,000 after purchasing an additional 321 shares in the last quarter. Global Retirement Partners LLC grew its stake in DraftKings by 3.8% in the fourth quarter. Global Retirement Partners LLC now owns 10,365 shares of the company’s stock valued at $357,000 after purchasing an additional 379 shares in the last quarter. Ameriflex Group Inc. lifted its position in shares of DraftKings by 100.0% in the third quarter. Ameriflex Group Inc. now owns 810 shares of the company’s stock valued at $30,000 after buying an additional 405 shares during the last quarter. Finally, Centaurus Financial Inc. lifted its position in shares of DraftKings by 4.1% in the third quarter. Centaurus Financial Inc. now owns 10,511 shares of the company’s stock valued at $393,000 after buying an additional 410 shares during the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DKNG shares. UBS Group lifted their price objective on DraftKings from $43.00 to $49.00 and gave the company a “buy” rating in a report on Friday, June 5th. Truist Financial lowered their price target on DraftKings from $33.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. Sanford C. Bernstein restated an “outperform” rating on shares of DraftKings in a research report on Thursday, June 11th. JPMorgan Chase & Co. reduced their price target on DraftKings from $32.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, April 16th. Finally, Weiss Ratings lowered DraftKings from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.21.

DraftKings Stock Performance

NASDAQ:DKNG opened at $26.32 on Thursday. The company has a market capitalization of $13.06 billion, a P/E ratio of 438.67 and a beta of 1.66. DraftKings Inc. has a 1 year low of $20.46 and a 1 year high of $48.78. 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 business has a fifty day simple moving average of $24.76 and a two-hundred day simple moving average of $27.47.

DraftKings (NASDAQ:DKNG) last announced 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). DraftKings had a net margin of 0.93% and a return on equity of 13.51%. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the firm posted ($0.07) earnings per share. DraftKings’s revenue for the quarter was up 16.8% compared to the same quarter last year. On average, analysts expect that DraftKings Inc. will post 0.6 earnings per share for the current year.

Insider Transactions at DraftKings

In other DraftKings news, Director Woodrow Levin sold 34,234 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $25.71, for a total transaction of $880,156.14. Following the transaction, the director owned 29,820 shares in the company, valued at approximately $766,672.20. This represents a 53.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider R Stanton Dodge sold 62,500 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $29.68, for a total value of $1,855,000.00. Following the completion of the sale, the insider owned 556,258 shares in the company, valued at $16,509,737.44. The trade was a 10.10% decrease in their position. 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. In the last three months, insiders sold 97,596 shares of company stock valued at $2,756,991. 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.