DraftKings Inc. (NASDAQ:DKNG) Shares Sold by Beck Bode LLC

Beck Bode LLC lessened its stake in DraftKings Inc. (NASDAQ:DKNG) by 65.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 17,409 shares of the company’s stock after selling 33,684 shares during the period. Beck Bode LLC’s holdings in DraftKings were worth $664,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Winthrop Advisory Group LLC grew its stake in shares of DraftKings by 2.4% in the first quarter. Winthrop Advisory Group LLC now owns 10,452 shares of the company’s stock valued at $475,000 after buying an additional 244 shares in the last quarter. ST Germain D J Co. Inc. increased its stake in DraftKings by 26.3% during the first quarter. ST Germain D J Co. Inc. now owns 1,200 shares of the company’s stock worth $54,000 after purchasing an additional 250 shares during the period. Hexagon Capital Partners LLC lifted its position in shares of DraftKings by 21.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,651 shares of the company’s stock worth $63,000 after purchasing an additional 286 shares in the last quarter. Sfmg LLC boosted its stake in shares of DraftKings by 3.9% in the first quarter. Sfmg LLC now owns 8,140 shares of the company’s stock valued at $370,000 after purchasing an additional 306 shares during the period. Finally, Brown Lisle Cummings Inc. grew its holdings in shares of DraftKings by 32.5% in the second quarter. Brown Lisle Cummings Inc. now owns 1,325 shares of the company’s stock valued at $51,000 after purchasing an additional 325 shares in the last quarter. Hedge funds and other institutional investors own 37.70% of the company’s stock.

DraftKings Trading Up 1.9 %

NASDAQ DKNG opened at $38.95 on Wednesday. DraftKings Inc. has a one year low of $25.73 and a one year high of $49.57. The firm has a market cap of $33.86 billion, a PE ratio of -33.01 and a beta of 1.80. The firm’s fifty day moving average is $35.33 and its two-hundred day moving average is $39.51. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.11 and a current ratio of 1.11.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.12 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.13. DraftKings had a negative return on equity of 43.11% and a negative net margin of 9.45%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the business earned ($0.17) EPS. The firm’s revenue was up 26.2% compared to the same quarter last year. Analysts expect that DraftKings Inc. will post -0.31 earnings per share for the current year.

Insider Buying and Selling

In other DraftKings news, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $30.72, for a total value of $6,144,000.00. Following the transaction, the insider now directly owns 2,699,815 shares of the company’s stock, valued at approximately $82,938,316.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Paul Liberman sold 63,206 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $39.00, for a total value of $2,465,034.00. Following the completion of the sale, the insider now owns 1,716,406 shares in the company, valued at $66,939,834. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $30.72, for a total value of $6,144,000.00. Following the transaction, the insider now owns 2,699,815 shares in the company, valued at approximately $82,938,316.80. The disclosure for this sale can be found here. Insiders sold a total of 1,220,537 shares of company stock valued at $44,784,070 over the last three months. 51.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DKNG shares. UBS Group upped their price objective on DraftKings from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Morgan Stanley reaffirmed an “overweight” rating and issued a $47.00 price target on shares of DraftKings in a research report on Wednesday, September 11th. Macquarie reissued an “outperform” rating and set a $50.00 price objective on shares of DraftKings in a research report on Monday, August 26th. Berenberg Bank raised shares of DraftKings to a “hold” rating in a research report on Friday, May 31st. Finally, Benchmark lifted their price objective on shares of DraftKings from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $49.78.

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.