Signaturefd LLC Has $220,000 Stock Holdings in DraftKings Inc. (NASDAQ:DKNG)

Signaturefd LLC raised its holdings in DraftKings Inc. (NASDAQ:DKNG) by 9.0% during the third quarter, HoldingsChannel reports. The firm owned 5,610 shares of the company’s stock after acquiring an additional 464 shares during the quarter. Signaturefd LLC’s holdings in DraftKings were worth $220,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of DKNG. LRI Investments LLC acquired a new stake in shares of DraftKings in the 1st quarter valued at $31,000. Concord Wealth Partners boosted its holdings in shares of DraftKings by 140.2% in the 1st quarter. Concord Wealth Partners now owns 776 shares of the company’s stock valued at $35,000 after purchasing an additional 453 shares in the last quarter. Alta Advisers Ltd acquired a new stake in shares of DraftKings in the 2nd quarter valued at $38,000. Redwood Wealth Management Group LLC acquired a new stake in shares of DraftKings in the 2nd quarter valued at $39,000. Finally, St. Johns Investment Management Company LLC acquired a new stake in shares of DraftKings in the 2nd quarter valued at $46,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

Insiders Place Their Bets

In other DraftKings news, insider Paul Liberman sold 88,441 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.64, for a total transaction of $3,152,037.24. Following the completion of the sale, the insider now directly owns 2,498,483 shares of the company’s stock, valued at approximately $89,045,934.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $35.25, for a total value of $7,050,000.00. Following the transaction, the insider now owns 2,678,082 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Liberman sold 88,441 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.64, for a total value of $3,152,037.24. Following the completion of the transaction, the insider now owns 2,498,483 shares in the company, valued at $89,045,934.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,220,536 shares of company stock valued at $46,110,465. Corporate insiders own 51.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Mizuho raised their price objective on DraftKings from $54.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, October 18th. BMO Capital Markets reissued an “outperform” rating and set a $48.00 price objective on shares of DraftKings in a report on Wednesday, October 16th. Barclays raised their price objective on DraftKings from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Morgan Stanley raised their price objective on DraftKings from $47.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Finally, BNP Paribas raised DraftKings from an “underperform” rating to a “neutral” rating and set a $35.00 price objective on the stock in a report on Tuesday, September 10th. Three equities research 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 a consensus rating of “Moderate Buy” and a consensus price target of $50.22.

DraftKings Stock Performance

Shares of DraftKings stock opened at $36.47 on Friday. DraftKings Inc. has a one year low of $25.73 and a one year high of $49.57. The firm has a market capitalization of $31.70 billion, a price-to-earnings ratio of -30.91 and a beta of 1.81. The business has a 50-day simple moving average of $37.24 and a 200 day simple moving average of $38.34. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.11 and a quick ratio of 1.11.

DraftKings (NASDAQ:DKNG) last issued its earnings results on Thursday, August 1st. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.13. DraftKings had a negative return on equity of 43.11% and a negative net margin of 9.45%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the company posted ($0.17) EPS. The firm’s revenue was up 26.2% compared to the same quarter last year. On average, research analysts anticipate 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.