DraftKings Inc. (NASDAQ:DKNG) Shares Bought by Claro Advisors LLC

Claro Advisors LLC grew its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 3.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 17,829 shares of the company’s stock after purchasing an additional 631 shares during the quarter. Claro Advisors LLC’s holdings in DraftKings were worth $699,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Atlanta Consulting Group Advisors LLC acquired a new stake in shares of DraftKings in the third quarter worth approximately $321,000. Mount Lucas Management LP boosted its position in shares of DraftKings by 2.4% in the third quarter. Mount Lucas Management LP now owns 26,291 shares of the company’s stock worth $1,031,000 after acquiring an additional 618 shares during the last quarter. Veery Capital LLC boosted its position in shares of DraftKings by 21.6% in the third quarter. Veery Capital LLC now owns 31,659 shares of the company’s stock worth $1,241,000 after acquiring an additional 5,626 shares during the last quarter. Natixis Advisors LLC boosted its position in shares of DraftKings by 293.8% in the third quarter. Natixis Advisors LLC now owns 49,426 shares of the company’s stock worth $1,937,000 after acquiring an additional 36,874 shares during the last quarter. Finally, Mizuho Securities USA LLC acquired a new stake in shares of DraftKings in the third quarter worth approximately $28,028,000. 37.70% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other DraftKings news, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $35.25, for a total value of $7,050,000.00. Following the completion of the transaction, the insider now owns 2,678,082 shares of the company’s stock, valued at $94,402,390.50. The trade was a 6.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Paul Liberman sold 88,441 shares of DraftKings stock in a transaction on Monday, August 26th. The stock was sold at an average price of $35.64, for a total transaction of $3,152,037.24. Following the completion of the transaction, the insider now directly owns 2,498,483 shares of the company’s stock, valued at approximately $89,045,934.12. This represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,020,536 shares of company stock valued at $39,966,465 over the last 90 days. 51.19% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on DKNG. Oppenheimer decreased their target price on shares of DraftKings from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Benchmark reissued a “buy” rating and issued a $44.00 target price on shares of DraftKings in a research report on Monday, October 7th. Truist Financial restated a “buy” rating and issued a $50.00 price target on shares of DraftKings in a report on Wednesday, August 14th. TD Cowen raised their price target on shares of DraftKings from $50.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Barclays raised their price target on shares of DraftKings from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.85.

DraftKings Stock Down 3.2 %

Shares of NASDAQ:DKNG opened at $39.84 on Monday. The company has a current ratio of 1.00, a quick ratio of 1.11 and a debt-to-equity ratio of 1.17. The company has a fifty day simple moving average of $38.35 and a 200 day simple moving average of $37.89. The firm has a market cap of $35.08 billion, a PE ratio of -45.27 and a beta of 1.82. DraftKings Inc. has a 12-month low of $28.69 and a 12-month high of $49.57.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.18). The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.12 billion. DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. On average, equities research analysts anticipate that DraftKings Inc. will post -0.73 EPS for the current fiscal year.

About DraftKings

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.