International Assets Investment Management LLC Grows Position in DraftKings Inc. (NASDAQ:DKNG)

International Assets Investment Management LLC grew its stake in DraftKings Inc. (NASDAQ:DKNG) by 17.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,522 shares of the company’s stock after acquiring an additional 1,104 shares during the quarter. International Assets Investment Management LLC’s holdings in DraftKings were worth $338,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Highlander Capital Management LLC raised its holdings in DraftKings by 180.0% in the 4th quarter. Highlander Capital Management LLC now owns 700 shares of the company’s stock valued at $25,000 after acquiring an additional 450 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in DraftKings in the fourth quarter valued at $26,000. Montag A & Associates Inc. purchased a new position in DraftKings during the fourth quarter worth about $29,000. FSC Wealth Advisors LLC acquired a new stake in DraftKings in the 4th quarter worth about $37,000. Finally, Householder Group Estate & Retirement Specialist LLC grew its holdings in DraftKings by 154.2% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 1,215 shares of the company’s stock valued at $42,000 after buying an additional 737 shares during the period. Institutional investors and hedge funds own 37.70% of the company’s stock.

Insider Buying and Selling

In other news, Director Harry Sloan sold 250,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was 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 directly owns 250,000 shares of the company’s stock, valued at $9,537,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $9,537,500.00. Following the sale, the director now owns 250,000 shares of the company’s stock, valued at approximately $9,537,500. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jocelyn Moore sold 1,450 shares of the company’s 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 completion of 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. Insiders have sold a total of 851,450 shares of company stock worth $35,023,584 over the last quarter. 48.94% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on DKNG shares. Oppenheimer reissued an “outperform” rating and issued a $60.00 target price on shares of DraftKings in a research report on Tuesday, May 28th. JMP Securities reissued a “market outperform” rating and set a $52.00 price objective on shares of DraftKings in a research note on Monday, March 25th. UBS Group upped their price objective on DraftKings from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Barclays lifted their target price on DraftKings from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $55.00 price target on shares of DraftKings in a research note on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, DraftKings has an average rating of “Moderate Buy” and a consensus price target of $49.00.

DraftKings Price Performance

DKNG opened at $38.00 on Wednesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.34 and a current 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 of $40.90 and a 200-day moving average of $40.59. The company has a market capitalization of $33.03 billion, a P/E ratio of -32.20 and a beta of 1.81.

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

About DraftKings

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.