Oddo BHF Asset Management Sas Takes $1.19 Million Position in DraftKings Inc. (NASDAQ:DKNG)

Oddo BHF Asset Management Sas bought a new position in shares of DraftKings Inc. (NASDAQ:DKNG) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 30,392 shares of the company’s stock, valued at approximately $1,191,000.

Other hedge funds have also recently bought and sold shares of the company. Mizuho Securities USA LLC bought a new position in DraftKings during the 3rd quarter worth $28,028,000. Janney Montgomery Scott LLC boosted its stake in shares of DraftKings by 51.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 378,227 shares of the company’s stock valued at $14,826,000 after purchasing an additional 128,676 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of DraftKings by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,175,255 shares of the company’s stock worth $124,470,000 after buying an additional 86,336 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in DraftKings by 238.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 496,971 shares of the company’s stock worth $19,481,000 after acquiring an additional 350,215 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of DraftKings by 14.6% in the third quarter. Principal Financial Group Inc. now owns 234,768 shares of the company’s stock valued at $9,203,000 after buying an additional 29,991 shares during the period. 37.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at DraftKings

In other news, insider Jason Robins sold 3,151 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $43.71, for a total value of $137,730.21. Following the completion of the transaction, the insider now directly owns 2,631,033 shares in the company, valued at approximately $115,002,452.43. This trade represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Liberman sold 88,441 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $36.41, for a total transaction of $3,220,136.81. Following the sale, the insider now owns 1,923,483 shares of the company’s stock, valued at approximately $70,034,016.03. This represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 963,742 shares of company stock valued at $39,668,077 in the last ninety days. 51.19% of the stock is currently owned by company insiders.

DraftKings Stock Down 3.8 %

Shares of DKNG opened at $39.88 on Friday. The stock has a market cap of $35.12 billion, a price-to-earnings ratio of -45.32 and a beta of 1.87. The company has a 50-day moving average price of $40.07 and a two-hundred day moving average price of $37.94. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17. DraftKings Inc. has a 12 month low of $28.69 and a 12 month high of $49.57.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.18). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.12 billion. DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. Equities analysts predict that DraftKings Inc. will post -0.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DKNG has been the topic of several recent analyst reports. BNP Paribas raised DraftKings from an “underperform” rating to a “neutral” rating and set a $35.00 price target on the stock in a research note on Tuesday, September 10th. TD Cowen increased their price target on shares of DraftKings from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. raised their target price on DraftKings from $47.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday. UBS Group lifted their target price on DraftKings from $56.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, JMP Securities lifted their price target on DraftKings from $51.00 to $52.00 and gave the stock a “market outperform” rating in a research note on Monday, November 11th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $51.00.

DraftKings Company 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.