Stephens Inc. AR Acquires 2,368 Shares of DraftKings Inc. $DKNG

Stephens Inc. AR increased its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 6.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,098 shares of the company’s stock after purchasing an additional 2,368 shares during the period. Stephens Inc. AR’s holdings in DraftKings were worth $1,763,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of DKNG. Smallwood Wealth Investment Management LLC bought a new stake in DraftKings in the 1st quarter valued at approximately $27,000. Bank of Jackson Hole Trust bought a new stake in DraftKings in the 1st quarter valued at approximately $31,000. TD Private Client Wealth LLC lifted its stake in DraftKings by 54.4% in the 2nd quarter. TD Private Client Wealth LLC now owns 800 shares of the company’s stock valued at $34,000 after acquiring an additional 282 shares in the last quarter. Summit Securities Group LLC lifted its stake in DraftKings by 349.1% in the 1st quarter. Summit Securities Group LLC now owns 1,042 shares of the company’s stock valued at $35,000 after acquiring an additional 810 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in DraftKings in the 2nd quarter valued at approximately $48,000. Institutional investors own 37.70% of the company’s stock.

DraftKings Stock Performance

Shares of DraftKings stock opened at $34.70 on Friday. DraftKings Inc. has a 12-month low of $29.64 and a 12-month high of $53.61. The stock has a market cap of $17.23 billion, a P/E ratio of -53.38, a P/E/G ratio of 0.87 and a beta of 1.99. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.82. The business’s 50 day moving average is $41.46 and its 200-day moving average is $39.62.

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Berenberg Bank set a $43.00 target price on DraftKings and gave the company a “buy” rating in a research note on Thursday, October 9th. Deutsche Bank Aktiengesellschaft set a $47.00 target price on DraftKings and gave the company a “hold” rating in a research note on Friday, August 8th. Barclays restated an “overweight” rating and issued a $54.00 target price (up previously from $51.00) on shares of DraftKings in a research note on Friday, August 8th. Benchmark reiterated a “buy” rating on shares of DraftKings in a research note on Wednesday. Finally, UBS Group dropped their price objective on DraftKings from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, September 24th. Twenty-seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $52.83.

Insider Buying and Selling at DraftKings

In related news, CFO Alan Wayne Ellingson sold 44,693 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $44.90, for a total transaction of $2,006,715.70. Following the transaction, the chief financial officer directly owned 128,131 shares of the company’s stock, valued at approximately $5,753,081.90. The trade was a 25.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R Stanton Dodge sold 105,554 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $44.60, for a total value of $4,707,708.40. Following the transaction, the insider directly owned 500,000 shares in the company, valued at $22,300,000. The trade was a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 605,554 shares of company stock worth $26,515,100 in the last three months. 51.19% of the stock is owned by insiders.

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.