1,222 Shares in DraftKings Inc. (NASDAQ:DKNG) Purchased by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC purchased a new position in shares of DraftKings Inc. (NASDAQ:DKNG) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,222 shares of the company’s stock, valued at approximately $47,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. RDA Financial Network bought a new position in DraftKings during the first quarter worth about $232,000. LRI Investments LLC bought a new stake in shares of DraftKings during the first quarter worth approximately $31,000. CreativeOne Wealth LLC bought a new stake in shares of DraftKings during the first quarter worth approximately $297,000. Janney Montgomery Scott LLC boosted its holdings in shares of DraftKings by 135.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 224,607 shares of the company’s stock worth $7,917,000 after acquiring an additional 129,294 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of DraftKings by 1.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 58,018 shares of the company’s stock worth $2,045,000 after acquiring an additional 1,021 shares during the period. Institutional investors own 37.70% of the company’s stock.

DraftKings Stock Performance

NASDAQ DKNG opened at $37.80 on Monday. The firm’s fifty day moving average price is $35.27 and its two-hundred day moving average price is $39.58. The stock has a market cap of $32.86 billion, a PE ratio of -32.03 and a beta of 1.80. DraftKings Inc. has a fifty-two week low of $25.73 and a fifty-two week high of $49.57. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.11 and a current ratio of 1.11.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.13. DraftKings had a negative net margin of 9.45% and a negative return on equity of 43.11%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. DraftKings’s revenue for the quarter was up 26.2% on a year-over-year basis. On average, equities analysts expect that DraftKings Inc. will post -0.31 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets reduced their price objective on DraftKings from $54.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Stifel Nicolaus restated a “buy” rating and set a $48.00 price objective (down previously from $50.00) on shares of DraftKings in a report on Monday, August 5th. Susquehanna boosted their price objective on DraftKings from $47.00 to $48.00 and gave the stock a “positive” rating in a report on Wednesday, September 4th. The Goldman Sachs Group dropped their price target on shares of DraftKings from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Finally, Berenberg Bank upgraded shares of DraftKings to a “hold” rating in a research report on Friday, May 31st. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $49.78.

Insider Buying and Selling

In related news, insider Paul Liberman sold 63,206 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $39.00, for a total value of $2,465,034.00. Following the sale, the insider now owns 1,716,406 shares of the company’s stock, valued at $66,939,834. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other DraftKings news, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $35.25, for a total transaction of $7,050,000.00. Following the sale, the insider now owns 2,678,082 shares of the company’s stock, valued at $94,402,390.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Liberman sold 63,206 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $39.00, for a total transaction of $2,465,034.00. Following the sale, the insider now directly owns 1,716,406 shares in the company, valued at approximately $66,939,834. The disclosure for this sale can be found here. Insiders have sold a total of 1,220,537 shares of company stock valued at $44,784,070 over the last 90 days. 51.19% of the stock is owned by insiders.

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.