4,738 Shares in DraftKings Inc. $DKNG Bought by Cigna Investments Inc. New

Cigna Investments Inc. New bought a new position in DraftKings Inc. (NASDAQ:DKNG) during the second quarter, according to its most recent filing with the SEC. The firm bought 4,738 shares of the company’s stock, valued at approximately $203,000.

A number of other large investors also recently modified their holdings of the company. Brooklyn Investment Group lifted its holdings in shares of DraftKings by 7.3% in the 1st quarter. Brooklyn Investment Group now owns 3,987 shares of the company’s stock worth $132,000 after purchasing an additional 270 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in DraftKings by 9.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,413 shares of the company’s stock valued at $146,000 after acquiring an additional 286 shares in the last quarter. Obermeyer Wealth Partners lifted its stake in DraftKings by 3.4% during the 1st quarter. Obermeyer Wealth Partners now owns 8,930 shares of the company’s stock valued at $297,000 after acquiring an additional 297 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in DraftKings by 44.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,024 shares of the company’s stock valued at $34,000 after acquiring an additional 317 shares in the last quarter. Finally, Stevens Capital Management LP lifted its stake in DraftKings by 3.7% during the 1st quarter. Stevens Capital Management LP now owns 8,989 shares of the company’s stock valued at $299,000 after acquiring an additional 319 shares in the last quarter. 37.70% of the stock is currently owned by institutional investors.

Insider Activity at DraftKings

In related news, insider Matthew Kalish sold 210,000 shares of DraftKings stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $42.90, for a total value of $9,009,000.00. Following the completion of the sale, the insider owned 4,190,233 shares of the company’s stock, valued at approximately $179,760,995.70. This trade represents a 4.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider R Stanton Dodge sold 105,554 shares of DraftKings stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $47.37, for a total value of $5,000,092.98. Following the completion of the sale, the insider directly owned 512,181 shares of the company’s stock, valued at approximately $24,262,013.97. This trade represents a 17.09% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 658,331 shares of company stock worth $29,285,365. 51.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

DKNG has been the topic of several recent analyst reports. Wall Street Zen upgraded DraftKings from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. UBS Group dropped their price objective on DraftKings from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday. Stifel Nicolaus dropped their price objective on DraftKings from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Benchmark raised their price objective on DraftKings from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Finally, Truist Financial raised their price objective on DraftKings from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Twenty-five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.15.

DraftKings Trading Down 0.1%

NASDAQ DKNG opened at $42.92 on Friday. The stock has a market capitalization of $21.31 billion, a price-to-earnings ratio of -66.03, a PEG ratio of 1.02 and a beta of 1.73. DraftKings Inc. has a one year low of $29.64 and a one year 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 business’s fifty day moving average is $45.03 and its 200-day moving average is $39.79.

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

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.