DraftKings Inc. (NASDAQ:DKNG) Shares Bought by Rhumbline Advisers

Rhumbline Advisers raised its position in DraftKings Inc. (NASDAQ:DKNG) by 18.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 648,597 shares of the company’s stock after buying an additional 100,596 shares during the quarter. Rhumbline Advisers owned about 0.07% of DraftKings worth $24,757,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of DraftKings during the 4th quarter worth $192,140,000. First Trust Advisors LP boosted its position in shares of DraftKings by 148.2% during the 4th quarter. First Trust Advisors LP now owns 4,235,008 shares of the company’s stock worth $149,284,000 after purchasing an additional 2,528,503 shares in the last quarter. Eagle Asset Management Inc. purchased a new stake in shares of DraftKings during the 4th quarter worth $87,829,000. Vanguard Group Inc. boosted its position in shares of DraftKings by 6.0% during the 4th quarter. Vanguard Group Inc. now owns 39,263,918 shares of the company’s stock worth $1,384,053,000 after purchasing an additional 2,225,759 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of DraftKings by 1,048.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,888,287 shares of the company’s stock worth $85,747,000 after purchasing an additional 1,723,819 shares in the last quarter. 37.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Guggenheim decreased their price objective on shares of DraftKings from $53.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. BMO Capital Markets decreased their price objective on shares of DraftKings from $54.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Oppenheimer decreased their price objective on shares of DraftKings from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Benchmark boosted their price objective on shares of DraftKings from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, Morgan Stanley decreased their price objective on shares of DraftKings from $51.00 to $47.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, DraftKings currently has an average rating of “Moderate Buy” and a consensus price target of $49.52.

DraftKings Stock Down 1.7 %

DKNG opened at $35.11 on Friday. The firm has a 50 day moving average price of $35.24 and a 200 day moving average price of $39.72. The company has a market cap of $30.52 billion, a PE ratio of -29.75 and a beta of 1.80. DraftKings Inc. has a 1 year low of $25.73 and a 1 year 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 posted its earnings results on Thursday, August 1st. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the company earned ($0.17) EPS. The company’s revenue was up 26.2% on a year-over-year basis. Sell-side analysts expect that DraftKings Inc. will post -0.31 earnings per share for the current year.

Insider Buying and Selling at DraftKings

In other DraftKings news, insider Paul Liberman sold 63,206 shares of the 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 completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Harry Sloan sold 250,000 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $38.15, for a total transaction of $9,537,500.00. Following the completion of the transaction, the director now directly owns 250,000 shares in the company, valued at approximately $9,537,500. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul Liberman sold 63,206 shares of the 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 of the company’s stock, valued at $66,939,834. The disclosure for this sale can be found here. Insiders sold 1,470,537 shares of company stock valued at $54,321,570 over the last 90 days. 51.19% of the stock is 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.