Fullcircle Wealth LLC Takes Position in DraftKings Inc. $DKNG

Fullcircle Wealth LLC purchased a new stake in shares of DraftKings Inc. (NASDAQ:DKNG) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 5,250 shares of the company’s stock, valued at approximately $237,000.

Other hedge funds have also added to or reduced their stakes in the company. Brown Advisory Inc. lifted its holdings in DraftKings by 14.6% during the 1st quarter. Brown Advisory Inc. now owns 7,600 shares of the company’s stock valued at $252,000 after purchasing an additional 968 shares during the last quarter. IFM Investors Pty Ltd lifted its holdings in DraftKings by 9.3% during the 1st quarter. IFM Investors Pty Ltd now owns 83,750 shares of the company’s stock valued at $2,781,000 after purchasing an additional 7,147 shares during the last quarter. Fortis Capital Advisors LLC acquired a new stake in DraftKings during the 2nd quarter valued at $535,000. K.J. Harrison & Partners Inc acquired a new stake in DraftKings during the 2nd quarter valued at $1,081,000. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in DraftKings by 28.4% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 266,500 shares of the company’s stock valued at $8,851,000 after purchasing an additional 59,000 shares during the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

DraftKings Stock Down 6.4%

DKNG opened at $28.61 on Wednesday. DraftKings Inc. has a fifty-two week low of $28.38 and a fifty-two week high of $53.61. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $14.20 billion, a P/E ratio of -44.02, a P/E/G ratio of 0.95 and a beta of 1.86. The stock has a fifty day moving average of $39.03 and a 200-day moving average of $39.58.

DraftKings (NASDAQ:DKNG) last posted its 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 return on equity of 30.06% and a negative net margin of 5.63%.The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the firm earned $0.12 earnings per share. The company’s revenue was up 36.9% on a year-over-year basis. DraftKings has set its FY 2025 guidance at EPS. On average, equities analysts expect that DraftKings Inc. will post 0.64 EPS for the current year.

Insider Buying and Selling

In related news, Director Jocelyn Moore sold 4,861 shares of the firm’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $43.21, for a total value of $210,043.81. Following the transaction, the director owned 1,461 shares in the company, valued at approximately $63,129.81. This trade represents a 76.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alan Wayne Ellingson sold 44,693 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $44.90, for a total value of $2,006,715.70. Following the completion of the transaction, the chief financial officer owned 128,131 shares in the company, valued at $5,753,081.90. The trade was a 25.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 500,000 shares of company stock valued at $21,807,391 in the last ninety days. Insiders own 47.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Berenberg Bank set a $43.00 price target on DraftKings and gave the company a “buy” rating in a report on Thursday, October 9th. Oppenheimer cut their price target on DraftKings from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, October 1st. UBS Group cut their price target on DraftKings from $58.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, September 24th. Bank of America downgraded DraftKings from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $48.00 to $35.00 in a report on Tuesday. Finally, Jefferies Financial Group set a $52.00 target price on DraftKings in a report on Monday, October 6th. Twenty-six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, DraftKings currently has a consensus rating of “Moderate Buy” and an average price target of $52.34.

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.