Fox Run Management L.L.C. Has $536,000 Stake in DraftKings Inc. $DKNG

Fox Run Management L.L.C. reduced its stake in shares of DraftKings Inc. (NASDAQ:DKNG) by 83.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,504 shares of the company’s stock after selling 62,331 shares during the quarter. Fox Run Management L.L.C.’s holdings in DraftKings were worth $536,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of DKNG. Brooklyn Investment Group boosted its position in DraftKings by 7.3% in the 1st quarter. Brooklyn Investment Group now owns 3,987 shares of the company’s stock valued at $132,000 after buying an additional 270 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in shares of DraftKings by 54.4% during the second 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 during the period. Farther Finance Advisors LLC boosted its holdings in DraftKings by 9.1% in the second quarter. Farther Finance Advisors LLC now owns 3,413 shares of the company’s stock valued at $146,000 after acquiring an additional 286 shares during the last quarter. Obermeyer Wealth Partners increased its position in DraftKings by 3.4% in the first quarter. Obermeyer Wealth Partners now owns 8,930 shares of the company’s stock worth $297,000 after purchasing an additional 297 shares during the period. Finally, Stevens Capital Management LP increased its position in DraftKings by 3.7% in the first quarter. Stevens Capital Management LP now owns 8,989 shares of the company’s stock worth $299,000 after purchasing an additional 319 shares during the period. Institutional investors own 37.70% of the company’s stock.

DraftKings Price Performance

DKNG opened at $30.50 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 1.10 and a debt-to-equity ratio of 2.51. DraftKings Inc. has a 12 month low of $26.23 and a 12 month high of $53.61. The company has a fifty day simple moving average of $37.18 and a 200 day simple moving average of $39.43. The stock has a market cap of $15.18 billion, a P/E ratio of -53.51, a P/E/G ratio of 1.02 and a beta of 1.86.

DraftKings (NASDAQ:DKNG) last posted its earnings results on Thursday, November 6th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.27). DraftKings had a negative return on equity of 22.84% and a negative net margin of 4.90%.The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm posted ($0.60) earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. DraftKings has set its FY 2025 guidance at EPS. On average, research analysts expect that DraftKings Inc. will post 0.64 EPS for the current year.

Insider Transactions at DraftKings

In related news, CFO Alan Wayne Ellingson sold 44,693 shares of the 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 completion of the sale, the chief financial officer directly owned 128,131 shares of the company’s stock, valued at approximately $5,753,081.90. This represents a 25.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ryan R. Moore sold 76,390 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $45.92, for a total transaction of $3,507,828.80. Following the sale, the director owned 402 shares in the company, valued at $18,459.84. This trade represents a 99.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 337,916 shares of company stock valued at $14,118,881 over the last 90 days. 47.08% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on DKNG. Canaccord Genuity Group reduced their target price on shares of DraftKings from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. UBS Group cut their price objective on shares of DraftKings from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, September 24th. Bank of America lowered shares of DraftKings from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $48.00 to $35.00 in a report on Tuesday, November 4th. Macquarie dropped their target price on shares of DraftKings from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft set a $47.00 price target on DraftKings and gave the stock a “hold” rating in a research report on Friday, August 8th. Twenty-six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, DraftKings currently has an average rating of “Moderate Buy” and a consensus price target of $48.66.

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.