DraftKings Inc. (NASDAQ:DKNG) Shares Bought by Game Plan Financial Advisors LLC

Game Plan Financial Advisors LLC lifted its stake in DraftKings Inc. (NASDAQ:DKNG) by 35.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,995 shares of the company’s stock after purchasing an additional 11,845 shares during the period. Game Plan Financial Advisors LLC’s holdings in DraftKings were worth $2,043,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Westend Capital Management LLC acquired a new position in DraftKings in the 1st quarter valued at about $136,000. RDA Financial Network purchased a new position in shares of DraftKings during the 1st quarter worth $232,000. International Assets Investment Management LLC increased its holdings in shares of DraftKings by 17.2% during the 1st quarter. International Assets Investment Management LLC now owns 7,522 shares of the company’s stock worth $338,000 after buying an additional 1,104 shares during the last quarter. Atwood & Palmer Inc. increased its holdings in DraftKings by 2.6% in the 1st quarter. Atwood & Palmer Inc. now owns 489,485 shares of the company’s stock valued at $22,228,000 after purchasing an additional 12,425 shares in the last quarter. Finally, Perpetual Ltd acquired a new stake in DraftKings in the 1st quarter valued at $1,526,000. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at DraftKings

In related news, Director Harry Sloan sold 250,000 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $38.15, for a total transaction of $9,537,500.00. Following the completion of the transaction, the director now owns 250,000 shares in the company, valued at $9,537,500. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other DraftKings news, Director Harry Sloan sold 250,000 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $38.15, for a total transaction of $9,537,500.00. Following the completion of the transaction, the director now owns 250,000 shares in the company, valued at $9,537,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jocelyn Moore sold 1,450 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $35.92, for a total transaction of $52,084.00. Following the transaction, the director now owns 6,814 shares of the company’s stock, valued at approximately $244,758.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 851,450 shares of company stock worth $35,023,584. 51.19% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Stifel Nicolaus reduced their price target on shares of DraftKings from $51.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. Morgan Stanley raised their price objective on shares of DraftKings from $49.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Oppenheimer restated an “outperform” rating and issued a $60.00 price target on shares of DraftKings in a research report on Tuesday, May 28th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $55.00 price objective on shares of DraftKings in a research note on Thursday, March 28th. Finally, Benchmark lifted their target price on shares of DraftKings from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, DraftKings presently has an average rating of “Moderate Buy” and a consensus target price of $49.00.

DraftKings Stock Down 2.7 %

Shares of DraftKings stock traded down $1.14 during trading on Monday, reaching $40.85. 2,975,932 shares of the company traded hands, compared to its average volume of 11,378,199. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.34 and a quick ratio of 1.34. DraftKings Inc. has a 1-year low of $24.67 and a 1-year high of $49.57. The company has a 50 day moving average price of $41.11 and a 200-day moving average price of $40.54. The firm has a market capitalization of $35.51 billion, a PE ratio of -35.33 and a beta of 1.81.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.02). DraftKings had a negative return on equity of 62.74% and a negative net margin of 13.45%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the company posted ($0.87) EPS. The business’s quarterly revenue was up 52.7% on a year-over-year basis. As a group, equities research analysts expect that DraftKings Inc. will post -0.21 earnings per share for the current fiscal year.

DraftKings Company 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.