NBC Securities Inc. Has $846,000 Position in DraftKings Inc. (NASDAQ:DKNG)

NBC Securities Inc. increased its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 10.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,595 shares of the company’s stock after acquiring an additional 2,045 shares during the period. NBC Securities Inc.’s holdings in DraftKings were worth $846,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Winthrop Advisory Group LLC boosted its position in shares of DraftKings by 2.4% during 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 in the last quarter. Hexagon Capital Partners LLC boosted its position in DraftKings by 21.0% in the second quarter. Hexagon Capital Partners LLC now owns 1,651 shares of the company’s stock valued at $63,000 after buying an additional 286 shares in the last quarter. Sfmg LLC raised its stake in shares of DraftKings by 3.9% in the first quarter. Sfmg LLC now owns 8,140 shares of the company’s stock worth $370,000 after acquiring an additional 306 shares during the last quarter. Brown Lisle Cummings Inc. raised its stake in shares of DraftKings by 32.5% in the second 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 last quarter. Finally, HighMark Wealth Management LLC raised its stake in shares of DraftKings by 18.3% in the second quarter. HighMark Wealth Management LLC now owns 2,129 shares of the company’s stock worth $81,000 after acquiring an additional 329 shares during the last quarter. 37.70% of the stock is currently owned by institutional investors and hedge funds.

DraftKings Trading Down 2.5 %

DKNG opened at $37.20 on Thursday. The stock has a market capitalization of $32.34 billion, a P/E ratio of -31.53 and a beta of 1.81. DraftKings Inc. has a 12 month low of $25.73 and a 12 month high of $49.57. The firm’s fifty day simple moving average is $36.48 and its 200 day simple moving average is $38.74. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.97.

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

Analysts Set New Price Targets

DKNG has been the subject of a number of research analyst reports. Guggenheim dropped their target price on shares of DraftKings from $53.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Oppenheimer lowered their target price on shares of DraftKings from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Monday, August 5th. BMO Capital Markets reaffirmed an “outperform” rating and set a $48.00 target price on shares of DraftKings in a report on Wednesday. Morgan Stanley reaffirmed an “overweight” rating and set a $47.00 target price on shares of DraftKings in a report on Wednesday, September 11th. Finally, Bank of America lowered their target price 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. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.85.

Insiders Place Their Bets

In other DraftKings news, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction dated 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 directly owns 2,678,082 shares of the company’s stock, valued at $94,402,390.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other DraftKings news, insider Paul Liberman sold 88,441 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $35.64, for a total transaction of $3,152,037.24. Following the sale, the insider now directly owns 2,498,483 shares of the company’s stock, valued at $89,045,934.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 2,678,082 shares in the company, valued at approximately $94,402,390.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,132,095 shares of company stock valued at $42,890,328 in the last three months. 51.19% of the stock is currently owned by corporate 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.