Thames Capital Management LLC Has $6.54 Million Position in DraftKings Inc. (NASDAQ:DKNG)

Thames Capital Management LLC trimmed its holdings in DraftKings Inc. (NASDAQ:DKNG) by 8.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 171,403 shares of the company’s stock after selling 16,682 shares during the period. DraftKings comprises 2.6% of Thames Capital Management LLC’s holdings, making the stock its 21st biggest position. Thames Capital Management LLC’s holdings in DraftKings were worth $6,542,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Winthrop Advisory Group LLC raised its holdings in DraftKings by 2.4% in the 1st quarter. Winthrop Advisory Group LLC now owns 10,452 shares of the company’s stock valued at $475,000 after acquiring an additional 244 shares during the period. ST Germain D J Co. Inc. boosted its stake in shares of DraftKings by 26.3% in the first quarter. ST Germain D J Co. Inc. now owns 1,200 shares of the company’s stock valued at $54,000 after buying an additional 250 shares during the period. Hexagon Capital Partners LLC grew its position in DraftKings by 21.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,651 shares of the company’s stock worth $63,000 after buying an additional 286 shares in the last quarter. Sfmg LLC increased its stake in DraftKings by 3.9% during the 1st quarter. Sfmg LLC now owns 8,140 shares of the company’s stock worth $370,000 after acquiring an additional 306 shares during the period. Finally, Brown Lisle Cummings Inc. increased its stake in DraftKings by 32.5% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,325 shares of the company’s stock worth $51,000 after acquiring an additional 325 shares during the period. 37.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity at DraftKings

In other DraftKings news, insider Paul Liberman sold 63,206 shares of the firm’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 completion of the sale, the insider now directly owns 1,716,406 shares in the company, valued at $66,939,834. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other DraftKings news, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $35.25, for a total transaction of $7,050,000.00. Following the completion of the sale, the insider now directly owns 2,678,082 shares of the company’s stock, valued at approximately $94,402,390.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Liberman sold 63,206 shares of DraftKings stock in a transaction that occurred 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 transaction, 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 1,220,537 shares of company stock worth $44,784,070 in the last quarter. Company insiders own 51.19% of the company’s stock.

DraftKings Stock Performance

Shares of DKNG opened at $39.28 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.97. The firm’s fifty day simple moving average is $35.42 and its two-hundred day simple moving average is $39.46. DraftKings Inc. has a 12 month low of $25.73 and a 12 month high of $49.57. The stock has a market capitalization of $34.14 billion, a P/E ratio of -33.29 and a beta of 1.80.

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

Analysts Set New Price Targets

DKNG has been the topic of several analyst reports. UBS Group increased their target price on DraftKings from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. BNP Paribas upgraded shares of DraftKings from an “underperform” rating to a “neutral” rating and set a $35.00 price objective on the stock in a research note on Tuesday, September 10th. Morgan Stanley reissued an “overweight” rating and issued a $47.00 target price on shares of DraftKings in a report on Wednesday, September 11th. BMO Capital Markets cut their price target on shares of DraftKings from $54.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Truist Financial reissued a “buy” rating and issued a $50.00 price objective on shares of DraftKings in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $49.78.

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.