33,052 Shares in DraftKings Inc. $DKNG Acquired by Stableford Capital II LLC

Stableford Capital II LLC purchased a new position in shares of DraftKings Inc. (NASDAQ:DKNG) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 33,052 shares of the company’s stock, valued at approximately $835,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janus Henderson Group PLC increased its holdings in DraftKings by 9.3% in the 1st quarter. Janus Henderson Group PLC now owns 27,665,699 shares of the company’s stock worth $588,288,000 after buying an additional 2,351,790 shares during the period. Viking Global Investors LP boosted its holdings in DraftKings by 27.4% during the fourth quarter. Viking Global Investors LP now owns 19,119,912 shares of the company’s stock worth $658,872,000 after buying an additional 4,116,561 shares in the last quarter. Capital World Investors grew its position in DraftKings by 181.4% during the fourth quarter. Capital World Investors now owns 18,626,429 shares of the company’s stock valued at $641,867,000 after buying an additional 12,008,357 shares during the period. AQR Capital Management LLC increased its stake in shares of DraftKings by 41.0% in the 4th quarter. AQR Capital Management LLC now owns 16,474,009 shares of the company’s stock valued at $567,694,000 after purchasing an additional 4,788,337 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in shares of DraftKings by 1,727.3% in the second quarter. California State Teachers Retirement System now owns 12,924,304 shares of the company’s stock valued at $326,468,000 after buying an additional 12,217,029 shares in the last quarter. 37.70% of the stock is owned by hedge funds and other institutional investors.

DraftKings Stock Performance

NASDAQ DKNG opened at $23.87 on Wednesday. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $11.85 billion, a P/E ratio of -62.82, a P/E/G ratio of 1.96 and a beta of 1.63. The stock has a 50-day moving average of $24.73 and a two-hundred day moving average of $24.52. DraftKings Inc. has a 1-year low of $20.46 and a 1-year high of $46.51.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings data on Friday, August 7th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.02 by $0.07. DraftKings had a negative net margin of 2.68% and a negative return on equity of 11.26%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter last year, the firm posted $0.30 earnings per share. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, analysts anticipate that DraftKings Inc. will post 0.49 EPS for the current year.

DraftKings News Summary

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Citizens JMP raised its DraftKings price target to $37 from $36 and maintained a “Market Outperform” rating, implying substantial upside from the referenced share price. The higher target reflects continued Wall Street confidence in DraftKings’ growth prospects. DraftKings price target raised by Citizens JMP
• Positive Sentiment: DraftKings expanded its agreement with Integrity Compliance 360 (IC360) to extend integrity monitoring, regulatory-support, and athlete-harassment prevention technology to both DraftKings Sportsbook and its Predictions platform. The broader coverage may help DraftKings manage compliance and reputational risks as prediction markets expand. DraftKings extends IC360 agreement
• Positive Sentiment: Wall Street sentiment remains favorable, with reports highlighting bullish analyst views and a prior consensus recommendation of “Moderate Buy.” This supports the investment case, although analyst sentiment alone may not offset concerns about valuation or operating performance. Wall Street views on DraftKings

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Northland Securities set a $28.00 target price on shares of DraftKings in a research note on Monday, August 10th. Freedom Capital upgraded DraftKings to a “strong-buy” rating in a report on Wednesday, May 20th. UBS Group lifted their price target on shares of DraftKings from $43.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Wells Fargo & Company decreased their price objective on DraftKings from $32.00 to $29.00 and set an “overweight” rating on the stock in a report on Monday, July 20th. Finally, Guggenheim cut their price objective on DraftKings from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $34.39.

Insider Buying and Selling

In related news, insider Robert Dodge sold 62,500 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $29.68, for a total transaction of $1,855,000.00. Following the sale, the insider directly owned 556,258 shares in the company, valued at approximately $16,509,737.44. This represents a 10.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jocelyn Moore sold 10,759 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $24.05, for a total transaction of $258,753.95. Following the completion of the sale, the director directly owned 1,881 shares in the company, valued at approximately $45,238.05. This represents a 85.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 47.18% of the stock is currently owned by corporate 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.