DraftKings Inc. (NASDAQ:DKNG) Shares Purchased by Future Financial Wealth Managment LLC

Future Financial Wealth Managment LLC increased its stake in shares of DraftKings Inc. (NASDAQ:DKNG) by 8.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,394 shares of the company’s stock after purchasing an additional 1,100 shares during the quarter. Future Financial Wealth Managment LLC’s holdings in DraftKings were worth $525,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Transcendent Capital Group LLC acquired a new position in shares of DraftKings during the 4th quarter worth about $26,000. LRI Investments LLC acquired a new position in shares of DraftKings during the 1st quarter worth about $31,000. Concord Wealth Partners boosted its position in shares of DraftKings by 140.2% during the 1st quarter. Concord Wealth Partners now owns 776 shares of the company’s stock worth $35,000 after acquiring an additional 453 shares in the last quarter. Alta Advisers Ltd acquired a new position in shares of DraftKings during the 2nd quarter worth about $38,000. Finally, Redwood Wealth Management Group LLC acquired a new position in shares of DraftKings during the 2nd quarter worth about $39,000. 37.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at DraftKings

In other news, insider Paul Liberman sold 643,654 shares of DraftKings stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $41.24, for a total transaction of $26,544,290.96. Following the completion of the sale, the insider now directly owns 137,308 shares in the company, valued at $5,662,581.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Paul Liberman sold 643,654 shares of DraftKings stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $41.24, for a total transaction of $26,544,290.96. Following the completion of the sale, the insider now directly owns 137,308 shares in the company, valued at $5,662,581.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction dated 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 sale, the insider now owns 2,678,082 shares of the company’s stock, valued at approximately $94,402,390.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,195,301 shares of company stock worth $45,355,362. 51.19% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on DKNG. Susquehanna upped their price objective on DraftKings from $48.00 to $50.00 and gave the stock a “positive” rating in a research report on Monday. UBS Group boosted their target price on DraftKings from $56.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. boosted their target price on DraftKings from $48.00 to $54.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Morgan Stanley reissued an “overweight” rating and issued a $47.00 target price on shares of DraftKings in a report on Wednesday, September 11th. Finally, Bank of America reduced their target price on DraftKings from $54.00 to $50.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, DraftKings presently has an average rating of “Moderate Buy” and an average price target of $49.89.

DraftKings Stock Performance

NASDAQ:DKNG opened at $37.50 on Wednesday. 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 has a 50-day moving average price of $35.87 and a two-hundred day moving average price of $39.04. 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 $32.60 billion, a P/E ratio of -31.78 and a beta of 1.81.

DraftKings (NASDAQ:DKNG) last posted its earnings results on Thursday, August 1st. The company reported $0.12 earnings per share for the quarter, beating 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 firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the firm posted ($0.17) EPS. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. As a group, research analysts expect that DraftKings Inc. will post -0.31 earnings per share for the current fiscal year.

DraftKings 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.