Sender Co & Partners Inc. Invests $227,000 in DraftKings Inc. (NASDAQ:DKNG)

Sender Co & Partners Inc. purchased a new stake in DraftKings Inc. (NASDAQ:DKNG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,943 shares of the company’s stock, valued at approximately $227,000.

Other institutional investors also recently modified their holdings of the company. Transcendent Capital Group LLC bought a new stake in DraftKings during the 4th quarter valued at $26,000. LRI Investments LLC purchased a new position in shares of DraftKings in the first quarter valued at $31,000. LifeSteps Financial Inc. bought a new stake in shares of DraftKings during the 1st quarter valued at $33,000. Concord Wealth Partners lifted its holdings in DraftKings by 140.2% during the 1st quarter. Concord Wealth Partners now owns 776 shares of the company’s stock worth $35,000 after purchasing an additional 453 shares in the last quarter. Finally, Alta Advisers Ltd purchased a new stake in DraftKings during the 2nd quarter worth about $38,000. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at DraftKings

In other news, insider Paul Liberman sold 63,206 shares of the firm’s 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 owns 1,716,406 shares in the company, valued at $66,939,834. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Paul Liberman sold 63,206 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $39.00, for a total transaction of $2,465,034.00. Following the transaction, the insider now owns 1,716,406 shares in the company, valued at approximately $66,939,834. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $35.25, for a total value of $7,050,000.00. Following the transaction, the insider now directly owns 2,678,082 shares of the company’s stock, valued at approximately $94,402,390.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 551,647 shares of company stock worth $18,811,071. 51.19% of the stock is currently owned by insiders.

DraftKings Stock Performance

DraftKings stock opened at $40.94 on Friday. The firm has a fifty day simple moving average of $35.55 and a two-hundred day simple moving average of $39.41. DraftKings Inc. has a twelve month low of $25.73 and a twelve month high of $49.57. The company has a market capitalization of $35.97 billion, a PE ratio of -34.69 and a beta of 1.80. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.97.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on DKNG. Stifel Nicolaus reiterated a “buy” rating and set a $48.00 price target (down from $50.00) on shares of DraftKings in a research report on Monday, August 5th. Bank of America cut their price target on shares of DraftKings from $54.00 to $50.00 and set a “buy” rating for the company in a report on Monday, July 22nd. UBS Group upped their price target on shares of DraftKings from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Guggenheim dropped their price objective on DraftKings from $53.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Finally, BNP Paribas upgraded DraftKings from an “underperform” rating to a “neutral” rating and set a $35.00 target price on the stock in a research note on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, DraftKings presently has a consensus rating of “Moderate Buy” and an average target price of $49.74.

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.