One Capital Management LLC Purchases 30,692 Shares of DraftKings Inc. $DKNG

One Capital Management LLC boosted its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 66.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 77,093 shares of the company’s stock after purchasing an additional 30,692 shares during the period. One Capital Management LLC’s holdings in DraftKings were worth $2,657,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Rothschild Wealth LLC lifted its holdings in DraftKings by 46.6% during the 4th quarter. Rothschild Wealth LLC now owns 8,963 shares of the company’s stock valued at $309,000 after purchasing an additional 2,850 shares during the last quarter. Norges Bank bought a new position in DraftKings during the 4th quarter valued at about $284,466,000. Eurizon Capital SGR S.p.A. bought a new position in DraftKings during the 4th quarter valued at about $1,264,000. Future Fund LLC lifted its holdings in DraftKings by 10.0% during the 4th quarter. Future Fund LLC now owns 108,509 shares of the company’s stock valued at $3,739,000 after purchasing an additional 9,829 shares during the last quarter. Finally, National Pension Service lifted its holdings in DraftKings by 49.5% during the 4th quarter. National Pension Service now owns 14,059 shares of the company’s stock valued at $484,000 after purchasing an additional 4,656 shares during the last quarter. 37.70% of the stock is owned by institutional investors.

Insider Buying and Selling at DraftKings

In other news, Director Woodrow Levin sold 34,234 shares of DraftKings stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $25.71, for a total transaction of $880,156.14. Following the completion of the sale, the director owned 29,820 shares in the company, valued at $766,672.20. The trade was a 53.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jocelyn Moore sold 2,150 shares of DraftKings stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $25.60, for a total transaction of $55,040.00. Following the sale, the director owned 1,406 shares of the company’s stock, valued at approximately $35,993.60. This represents a 60.46% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 521,663 shares of company stock worth $13,144,962. 47.18% of the stock is currently owned by corporate insiders.

DraftKings Trading Down 3.9%

DKNG opened at $25.30 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.03. The stock has a market capitalization of $12.55 billion, a PE ratio of 421.67 and a beta of 1.66. DraftKings Inc. has a 1-year low of $20.46 and a 1-year high of $48.78. The firm has a 50-day moving average price of $23.64 and a two-hundred day moving average price of $27.73.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.02). The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.63 billion. DraftKings had a net margin of 0.93% and a return on equity of 13.51%. The company’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.07) EPS. As a group, equities analysts anticipate that DraftKings Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DKNG. Argus downgraded shares of DraftKings from a “buy” rating to a “hold” rating in a report on Tuesday, March 17th. Raymond James Financial raised shares of DraftKings from a “market perform” rating to an “outperform” rating in a report on Friday, April 24th. Northland Securities set a $27.00 price target on shares of DraftKings in a report on Monday, May 11th. Stifel Nicolaus cut their price target on shares of DraftKings from $44.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Finally, Berenberg Bank set a $26.40 price target on shares of DraftKings in a report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $34.15.

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.