Brooklyn Investment Group Boosts Holdings in DraftKings Inc. $DKNG

Brooklyn Investment Group boosted its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 7.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,987 shares of the company’s stock after acquiring an additional 270 shares during the period. Brooklyn Investment Group’s holdings in DraftKings were worth $132,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Raiffeisen Bank International AG purchased a new position in shares of DraftKings during the 4th quarter worth approximately $25,000. FNY Investment Advisers LLC acquired a new stake in DraftKings during the 1st quarter valued at $26,000. Smallwood Wealth Investment Management LLC acquired a new stake in DraftKings during the 1st quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in DraftKings during the fourth quarter worth $28,000. Finally, GPS Wealth Strategies Group LLC raised its holdings in shares of DraftKings by 197.9% in the first quarter. GPS Wealth Strategies Group LLC now owns 849 shares of the company’s stock worth $28,000 after acquiring an additional 564 shares during the last quarter. Hedge funds and other institutional investors own 37.70% of the company’s stock.

DraftKings Stock Performance

NASDAQ:DKNG opened at $45.65 on Thursday. The company has a market cap of $40.60 billion, a P/E ratio of -70.23, a P/E/G ratio of 1.07 and a beta of 1.70. The firm’s 50 day moving average is $42.89 and its two-hundred day moving average is $39.57. DraftKings Inc. has a fifty-two week low of $29.64 and a fifty-two week high of $53.61. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.82.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.14. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.39 billion. DraftKings had a negative net margin of 5.63% and a negative return on equity of 30.06%. The business’s quarterly revenue was up 36.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.12 EPS. DraftKings has set its FY 2025 guidance at EPS. Analysts expect that DraftKings Inc. will post 0.64 EPS for the current year.

Insider Transactions at DraftKings

In other DraftKings news, CFO Alan Wayne Ellingson sold 5,725 shares of DraftKings stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $43.53, for a total transaction of $249,209.25. Following the transaction, the chief financial officer directly owned 172,824 shares of the company’s stock, valued at $7,523,028.72. The trade was a 3.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jocelyn Moore sold 4,861 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $43.21, for a total transaction of $210,043.81. Following the sale, the director owned 1,461 shares of the company’s stock, valued at approximately $63,129.81. This represents a 76.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 645,938 shares of company stock valued at $26,823,776. 51.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

DKNG has been the topic of a number of analyst reports. Stifel Nicolaus decreased their price objective on DraftKings from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Guggenheim reduced their target price on shares of DraftKings from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, May 12th. Citigroup reiterated a “buy” rating on shares of DraftKings in a report on Friday, July 11th. Deutsche Bank Aktiengesellschaft set a $47.00 price objective on shares of DraftKings and gave the company a “hold” rating in a research report on Friday, August 8th. Finally, JMP Securities decreased their target price on shares of DraftKings from $54.00 to $50.00 and set a “market outperform” rating on the stock in a research report on Thursday, June 5th. Twenty-five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, DraftKings presently has an average rating of “Moderate Buy” and an average target price of $54.50.

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.