Drucker Wealth 3.0 LLC Sells 432 Shares of DraftKings Inc. $DKNG

Drucker Wealth 3.0 LLC decreased its position in DraftKings Inc. (NASDAQ:DKNG) by 5.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,499 shares of the company’s stock after selling 432 shares during the quarter. Drucker Wealth 3.0 LLC’s holdings in DraftKings were worth $321,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group raised its position in shares of DraftKings by 7.3% in the first quarter. Brooklyn Investment Group now owns 3,987 shares of the company’s stock valued at $132,000 after purchasing an additional 270 shares during the period. TD Private Client Wealth LLC raised its position in shares of DraftKings by 54.4% in the second quarter. TD Private Client Wealth LLC now owns 800 shares of the company’s stock valued at $34,000 after purchasing an additional 282 shares during the period. Farther Finance Advisors LLC raised its position in shares of DraftKings by 9.1% in the second quarter. Farther Finance Advisors LLC now owns 3,413 shares of the company’s stock valued at $146,000 after purchasing an additional 286 shares during the period. Obermeyer Wealth Partners raised its position in shares of DraftKings by 3.4% in the first quarter. Obermeyer Wealth Partners now owns 8,930 shares of the company’s stock valued at $297,000 after purchasing an additional 297 shares during the period. Finally, Stevens Capital Management LP raised its position in shares of DraftKings by 3.7% in the first quarter. Stevens Capital Management LP now owns 8,989 shares of the company’s stock valued at $299,000 after purchasing an additional 319 shares during the period. Institutional investors own 37.70% of the company’s stock.

DraftKings Stock Down 7.1%

DKNG opened at $32.69 on Friday. DraftKings Inc. has a fifty-two week low of $29.64 and a fifty-two week high of $53.61. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.34 and a quick ratio of 1.34. The firm’s fifty day moving average price is $43.20 and its two-hundred day moving average price is $39.63. The company has a market capitalization of $16.23 billion, a P/E ratio of -50.29, a P/E/G ratio of 0.70 and a beta of 1.99.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.14. DraftKings had a negative net margin of 5.63% and a negative return on equity of 30.06%. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the company earned $0.12 earnings per share. The business’s revenue was up 36.9% compared to the same quarter last year. DraftKings has set its FY 2025 guidance at EPS. On average, analysts anticipate that DraftKings Inc. will post 0.64 EPS for the current year.

Insider Activity

In other news, insider R Stanton Dodge sold 105,554 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $47.37, for a total value of $5,000,092.98. Following the sale, the insider owned 512,181 shares of the company’s stock, valued at approximately $24,262,013.97. This represents a 17.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jocelyn Moore sold 4,861 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $43.21, for a total transaction of $210,043.81. Following the completion of the sale, the director directly owned 1,461 shares in the company, valued at approximately $63,129.81. The trade was a 76.89% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 658,331 shares of company stock valued at $29,285,365. 51.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on DKNG shares. Wall Street Zen lowered shares of DraftKings from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Susquehanna reaffirmed a “positive” rating and set a $64.00 target price on shares of DraftKings in a research report on Friday, August 8th. Oppenheimer dropped their target price on shares of DraftKings from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DraftKings in a research report on Wednesday. Finally, JPMorgan Chase & Co. started coverage on shares of DraftKings in a research report on Monday, June 23rd. They set an “overweight” rating and a $50.00 target price on the stock. Twenty-seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.28.

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.