357,890 Shares in DraftKings Inc. $DKNG Acquired by Goodnow Investment Group LLC

Goodnow Investment Group LLC acquired a new stake in DraftKings Inc. (NASDAQ:DKNG) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 357,890 shares of the company’s stock, valued at approximately $15,350,000. DraftKings comprises approximately 1.4% of Goodnow Investment Group LLC’s investment portfolio, making the stock its 17th biggest holding.

Several other large investors also recently made changes to their positions in DKNG. Helios Capital Management PTE. Ltd. raised its stake in shares of DraftKings by 926.0% in the second quarter. Helios Capital Management PTE. Ltd. now owns 114,000 shares of the company’s stock worth $4,889,000 after acquiring an additional 102,889 shares during the last quarter. Claro Advisors LLC grew its stake in shares of DraftKings by 121.4% during the second quarter. Claro Advisors LLC now owns 39,915 shares of the company’s stock valued at $1,712,000 after purchasing an additional 21,890 shares during the last quarter. Swiss National Bank increased its holdings in shares of DraftKings by 10.0% in the second quarter. Swiss National Bank now owns 1,361,964 shares of the company’s stock valued at $58,415,000 after purchasing an additional 124,200 shares in the last quarter. K.J. Harrison & Partners Inc bought a new position in DraftKings in the 2nd quarter worth approximately $1,081,000. Finally, Fortis Capital Advisors LLC bought a new position in DraftKings in the 2nd quarter worth approximately $535,000. Institutional investors own 37.70% of the company’s stock.

DraftKings Trading Up 1.8%

NASDAQ DKNG opened at $35.52 on Friday. DraftKings Inc. has a 12 month low of $26.23 and a 12 month high of $53.61. The stock has a 50-day simple moving average of $32.33 and a 200 day simple moving average of $38.88. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 2.51. The company has a market capitalization of $17.68 billion, a PE ratio of -62.32, a P/E/G ratio of 2.89 and a beta of 1.60.

DraftKings (NASDAQ:DKNG) last posted its earnings results on Friday, November 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.27). The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.40 billion. DraftKings had a negative return on equity of 22.84% and a negative net margin of 4.90%.DraftKings’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.60) earnings per share. Research analysts forecast that DraftKings Inc. will post 0.64 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on DKNG. Truist Financial decreased their price objective on DraftKings from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, November 10th. Canaccord Genuity Group decreased their price target on DraftKings from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Berenberg Bank set a $43.00 price objective on DraftKings and gave the stock a “buy” rating in a research report on Thursday, October 9th. Macquarie dropped their price objective on DraftKings from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, November 10th. Finally, Wells Fargo & Company initiated coverage on shares of DraftKings in a research report on Tuesday, November 18th. They set an “equal weight” rating and a $31.00 target price on the stock. Twenty-five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.48.

Insider Activity

In other news, Director Gregory Westin Wendt bought 10,000 shares of the stock in a transaction on Tuesday, November 11th. The stock was purchased at an average price of $30.27 per share, with a total value of $302,700.00. Following the completion of the purchase, the director owned 10,000 shares of the company’s stock, valued at approximately $302,700. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Harry Sloan bought 25,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was purchased at an average price of $30.30 per share, for a total transaction of $757,500.00. Following the completion of the acquisition, the director owned 249,712 shares of the company’s stock, valued at approximately $7,566,273.60. This trade represents a 11.13% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 166,752 shares of company stock worth $5,387,153 in the last ninety days. Company insiders own 51.19% of the company’s stock.

DraftKings Company 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.