Quantinno Capital Management LP Has $662,000 Stock Holdings in DraftKings Inc. (NASDAQ:DKNG)

Quantinno Capital Management LP increased its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 34.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,886 shares of the company’s stock after acquiring an additional 4,302 shares during the quarter. Quantinno Capital Management LP’s holdings in DraftKings were worth $662,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Alta Advisers Ltd bought a new position in shares of DraftKings during the 2nd quarter valued at about $38,000. Redwood Wealth Management Group LLC bought a new position in DraftKings in the second quarter valued at approximately $39,000. St. Johns Investment Management Company LLC acquired a new position in shares of DraftKings in the second quarter valued at approximately $46,000. V Square Quantitative Management LLC bought a new stake in shares of DraftKings during the third quarter worth $46,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of DraftKings during the second quarter worth $47,000. Institutional investors own 37.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on DKNG shares. UBS Group increased their target price on DraftKings from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Macquarie increased their price objective on DraftKings from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. JMP Securities boosted their target price on DraftKings from $51.00 to $52.00 and gave the company a “market outperform” rating in a research note on Monday, November 11th. Barclays raised their price target on shares of DraftKings from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, Mizuho boosted their price objective on shares of DraftKings from $54.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

DraftKings Price Performance

Shares of NASDAQ DKNG opened at $39.88 on Friday. The firm has a market cap of $35.12 billion, a P/E ratio of -45.32 and a beta of 1.87. The business’s 50 day moving average is $40.07 and its 200-day moving average is $37.95. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17. DraftKings Inc. has a 1-year low of $28.69 and a 1-year high of $49.57.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.18). The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. Equities research analysts predict that DraftKings Inc. will post -0.79 earnings per share for the current year.

Insider Buying and Selling at DraftKings

In other DraftKings news, insider Paul Liberman sold 643,654 shares of DraftKings stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $41.24, for a total value of $26,544,290.96. Following the completion of the transaction, the insider now directly owns 137,308 shares of the company’s stock, valued at $5,662,581.92. The trade was a 82.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R Stanton Dodge sold 228,496 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $42.74, for a total value of $9,765,919.04. Following the sale, the insider now directly owns 541,884 shares in the company, valued at approximately $23,160,122.16. This trade represents a 29.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 963,742 shares of company stock valued at $39,668,077 in the last quarter. Company insiders own 51.19% of the company’s stock.

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.