Thrivent Financial for Lutherans Has $7.91 Million Stock Holdings in DraftKings Inc. (NASDAQ:DKNG)

Thrivent Financial for Lutherans lifted its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 3,638.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 207,212 shares of the company’s stock after purchasing an additional 201,670 shares during the quarter. Thrivent Financial for Lutherans’ holdings in DraftKings were worth $7,909,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Winthrop Advisory Group LLC lifted 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 worth $475,000 after purchasing an additional 244 shares during the last quarter. ST Germain D J Co. Inc. lifted 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 worth $54,000 after buying an additional 250 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in DraftKings by 21.0% in the 2nd 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 during the last quarter. Sfmg LLC raised its holdings in DraftKings by 3.9% in 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. lifted its position 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 last quarter. Institutional investors own 37.70% of the company’s stock.

DraftKings Stock Down 0.4 %

Shares of NASDAQ:DKNG opened at $40.94 on Friday. The company’s fifty day moving average is $35.47 and its 200-day moving average is $39.39. 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 Inc. has a 52 week low of $25.73 and a 52 week 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.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.13. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 26.2% on a year-over-year basis. During the same period last year, the firm posted ($0.17) EPS. Equities research analysts predict that DraftKings Inc. will post -0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DKNG. Morgan Stanley reaffirmed an “overweight” rating and issued a $47.00 price target on shares of DraftKings in a research report on Wednesday, September 11th. Macquarie reaffirmed an “outperform” rating and issued a $50.00 price target on shares of DraftKings in a research report on Monday, August 26th. The Goldman Sachs Group reduced their price objective on DraftKings from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, August 5th. 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. Finally, Benchmark upped their target price on shares of DraftKings from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, DraftKings has an average rating of “Moderate Buy” and a consensus target price of $49.74.

Insider Transactions at DraftKings

In related news, insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $30.72, for a total transaction of $6,144,000.00. Following the completion of the sale, the insider now directly owns 2,699,815 shares of the company’s stock, valued at approximately $82,938,316.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jason Robins sold 200,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $30.72, for a total transaction of $6,144,000.00. Following the sale, the insider now owns 2,699,815 shares in the company, valued at $82,938,316.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Liberman sold 63,206 shares of DraftKings stock in a transaction dated 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 transaction, the insider now directly 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 have sold 551,647 shares of company stock valued at $18,811,071 in the last three months. 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.