Helios Capital Management PTE. Ltd. Acquires 16,000 Shares of DraftKings Inc. $DKNG

Helios Capital Management PTE. Ltd. increased its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 14.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 130,000 shares of the company’s stock after purchasing an additional 16,000 shares during the period. DraftKings makes up about 3.3% of Helios Capital Management PTE. Ltd.’s portfolio, making the stock its 14th biggest holding. Helios Capital Management PTE. Ltd.’s holdings in DraftKings were worth $4,862,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in DKNG. TD Private Client Wealth LLC grew its stake in shares of DraftKings by 54.4% in 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 in the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of DraftKings during the 2nd quarter worth approximately $45,000. Delos Wealth Advisors LLC acquired a new position in shares of DraftKings during the 2nd quarter worth approximately $47,000. Ameritas Advisory Services LLC bought a new position in shares of DraftKings during the second quarter worth approximately $48,000. Finally, Pinnacle Bancorp Inc. raised its position in shares of DraftKings by 101.3% in the second quarter. Pinnacle Bancorp Inc. now owns 1,264 shares of the company’s stock valued at $54,000 after buying an additional 636 shares in the last quarter. Institutional investors own 37.70% of the company’s stock.

Wall Street Analyst Weigh In

DKNG has been the topic of a number of analyst reports. Wall Street Zen downgraded DraftKings from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Bank of America cut shares of DraftKings from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $48.00 to $35.00 in a research report on Tuesday, November 4th. Truist Financial dropped their target price on shares of DraftKings from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, December 22nd. Stifel Nicolaus reiterated a “buy” rating and set a $46.00 price target (down previously from $50.00) on shares of DraftKings in a research report on Monday, November 10th. Finally, Susquehanna decreased their price objective on shares of DraftKings from $59.00 to $48.00 and set a “positive” rating on the stock in a research note on Monday, November 10th. Twenty-five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, DraftKings currently has an average rating of “Moderate Buy” and an average target price of $47.07.

DraftKings Stock Down 2.3%

Shares of DKNG opened at $35.17 on Monday. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.09 and a current ratio of 1.10. DraftKings Inc. has a 52 week low of $26.23 and a 52 week high of $53.61. The stock has a market capitalization of $17.51 billion, a price-to-earnings ratio of -61.70, a PEG ratio of 0.71 and a beta of 1.63. The stock has a fifty day moving average of $32.91 and a 200-day moving average of $38.54.

DraftKings (NASDAQ:DKNG) last posted its earnings results on Friday, November 7th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.27). The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.40 billion. DraftKings had a negative net margin of 4.90% and a negative return on equity of 22.84%. DraftKings’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.60) earnings per share. As a group, sell-side analysts anticipate that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

Insider Buying and Selling at DraftKings

In related news, Director Harry Sloan bought 25,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were purchased at an average cost of $30.30 per share, with a total value of $757,500.00. Following the acquisition, the director owned 249,712 shares of the company’s stock, valued at $7,566,273.60. This represents a 11.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider R Stanton Dodge sold 52,777 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $33.84, for a total value of $1,785,973.68. Following the completion of the sale, the insider directly owned 512,182 shares of the company’s stock, valued at approximately $17,332,238.88. The trade was a 9.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 166,752 shares of company stock valued at $5,387,153. 51.19% of the stock is owned by insiders.

About DraftKings

DraftKings Inc is a leading digital sports entertainment and gaming company specializing in daily fantasy sports, sports betting and iGaming products. The company provides an integrated platform where users can participate in daily fantasy contests, place wagers on professional sports events, and enjoy a range of online casino-style games. DraftKings’ proprietary technology supports real-time odds, live scoring and advanced analytics to enhance the user experience across mobile and desktop applications.

Founded in 2012 by co-founders Jason Robins, Matthew Kalish and Paul Liberman, DraftKings began as a daily fantasy sports provider and rapidly expanded into regulated sports betting following legislative changes in the United States.