Stableford Capital II LLC Invests $835,000 in DraftKings Inc. $DKNG

Stableford Capital II LLC bought a new stake in DraftKings Inc. (NASDAQ:DKNG) in the 2nd quarter, Holdings Channel.com reports. The firm bought 33,052 shares of the company’s stock, valued at approximately $835,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ascentis Independent Advisors acquired a new stake in shares of DraftKings in the 1st quarter valued at about $27,000. Basecamp Wealth Advisors LLC increased its position in DraftKings by 3,547.1% during the first quarter. Basecamp Wealth Advisors LLC now owns 1,240 shares of the company’s stock worth $27,000 after buying an additional 1,206 shares during the period. CoreCap Advisors LLC lifted its stake in DraftKings by 336.5% in the second quarter. CoreCap Advisors LLC now owns 1,148 shares of the company’s stock valued at $29,000 after buying an additional 885 shares during the last quarter. SHP Wealth Management purchased a new stake in DraftKings in the fourth quarter valued at approximately $42,000. Finally, Root Financial Partners LLC boosted its holdings in shares of DraftKings by 208.0% in the first quarter. Root Financial Partners LLC now owns 2,775 shares of the company’s stock valued at $60,000 after acquiring an additional 1,874 shares during the period. 37.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other DraftKings news, Director Jocelyn Moore sold 10,759 shares of DraftKings stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $24.05, for a total value of $258,753.95. Following the sale, the director owned 1,881 shares of the company’s stock, valued at approximately $45,238.05. The trade was a 85.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Dodge sold 62,500 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $29.68, for a total value of $1,855,000.00. Following the transaction, the insider owned 556,258 shares in the company, valued at $16,509,737.44. The trade was a 10.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 47.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on DKNG shares. Mizuho lifted their target price on shares of DraftKings from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Weiss Ratings cut shares of DraftKings from a “sell (d)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. UBS Group raised their price objective on shares of DraftKings from $43.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Wolfe Research initiated coverage on shares of DraftKings in a research note on Wednesday, September 2nd. They issued an “outperform” rating and a $40.00 price objective on the stock. Finally, Truist Financial set a $29.00 target price on shares of DraftKings in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, DraftKings currently has an average rating of “Moderate Buy” and a consensus target price of $34.39.

Trending Headlines about DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Citizens JMP raised its DraftKings price target to $37 from $36 and maintained a “Market Outperform” rating, implying substantial upside from the referenced share price. The higher target reflects continued Wall Street confidence in DraftKings’ growth prospects. DraftKings price target raised by Citizens JMP
• Positive Sentiment: DraftKings expanded its agreement with Integrity Compliance 360 (IC360) to extend integrity monitoring, regulatory-support, and athlete-harassment prevention technology to both DraftKings Sportsbook and its Predictions platform. The broader coverage may help DraftKings manage compliance and reputational risks as prediction markets expand. DraftKings extends IC360 agreement
• Positive Sentiment: Wall Street sentiment remains favorable, with reports highlighting bullish analyst views and a prior consensus recommendation of “Moderate Buy.” This supports the investment case, although analyst sentiment alone may not offset concerns about valuation or operating performance. Wall Street views on DraftKings

DraftKings Price Performance

Shares of NASDAQ DKNG opened at $23.87 on Wednesday. The stock has a fifty day moving average price of $24.73 and a 200 day moving average price of $24.52. DraftKings Inc. has a 1-year low of $20.46 and a 1-year high of $46.51. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $11.85 billion, a PE ratio of -62.82, a P/E/G ratio of 1.96 and a beta of 1.63.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.51 billion. DraftKings had a negative net margin of 2.68% and a negative return on equity of 11.26%. DraftKings’s revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 EPS. Sell-side analysts forecast that DraftKings Inc. will post 0.49 EPS for the current year.

About DraftKings

DraftKings Inc is a leading digital sports entertainment and gaming company specializing in daily fantasy sports, sports betting and iGaming products. The company provides an integrated platform where users can participate in daily fantasy contests, place wagers on professional sports events, and enjoy a range of online casino-style games. DraftKings’ proprietary technology supports real-time odds, live scoring and advanced analytics to enhance the user experience across mobile and desktop applications.

Founded in 2012 by co-founders Jason Robins, Matthew Kalish and Paul Liberman, DraftKings began as a daily fantasy sports provider and rapidly expanded into regulated sports betting following legislative changes in the United States.