DraftKings Inc. $DKNG Shares Purchased by First Dallas Securities Inc.

First Dallas Securities Inc. lifted its holdings in DraftKings Inc. (NASDAQ:DKNG) by 21.1% in the first quarter, Holdings Channel reports. The firm owned 93,061 shares of the company’s stock after buying an additional 16,245 shares during the period. DraftKings comprises about 1.3% of First Dallas Securities Inc.’s portfolio, making the stock its 21st largest position. First Dallas Securities Inc.’s holdings in DraftKings were worth $3,091,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in DKNG. The Manufacturers Life Insurance Company boosted its position in shares of DraftKings by 2.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 26,236 shares of the company’s stock worth $976,000 after purchasing an additional 576 shares in the last quarter. Algert Global LLC boosted its position in shares of DraftKings by 14.4% in the 4th quarter. Algert Global LLC now owns 10,798 shares of the company’s stock worth $402,000 after purchasing an additional 1,359 shares in the last quarter. Baird Financial Group Inc. acquired a new stake in DraftKings during the 4th quarter worth about $424,000. CoreCap Advisors LLC lifted its position in DraftKings by 34.8% during the 4th quarter. CoreCap Advisors LLC now owns 2,433 shares of the company’s stock worth $91,000 after acquiring an additional 628 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in DraftKings by 36.0% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 16,154 shares of the company’s stock worth $601,000 after acquiring an additional 4,278 shares during the period. Institutional investors and hedge funds own 37.70% of the company’s stock.

DraftKings Stock Performance

NASDAQ DKNG opened at $46.56 on Monday. The stock has a 50-day simple moving average of $44.63 and a two-hundred day simple moving average of $39.58. The firm has a market capitalization of $41.41 billion, a P/E ratio of -71.63, a PEG ratio of 1.10 and a beta of 1.73. 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 quick ratio of 1.34 and a current ratio of 1.34.

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

Insider Buying and Selling 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 transaction, the insider owned 4,190,233 shares in the company, valued at $179,760,995.70. The trade was a 4.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ryan R. Moore sold 76,390 shares of DraftKings stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $45.92, for a total value of $3,507,828.80. Following the completion of the transaction, the director owned 402 shares of the company’s stock, valued at approximately $18,459.84. This represents a 99.48% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 816,662 shares of company stock worth $35,460,274. Insiders own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

DKNG has been the subject of a number of research reports. Sanford C. Bernstein initiated coverage on DraftKings in a research report on Wednesday, June 4th. They set an “outperform” rating and a $46.00 price target for the company. JMP Securities lowered their price target on DraftKings from $54.00 to $50.00 and set a “market outperform” rating for the company in a research report on Thursday, June 5th. Deutsche Bank Aktiengesellschaft set a $47.00 price target on DraftKings and gave the stock a “hold” rating in a research report on Friday, August 8th. Barclays reaffirmed an “overweight” rating and set a $54.00 price target (up previously from $51.00) on shares of DraftKings in a research report on Friday, August 8th. Finally, Citigroup reaffirmed a “buy” rating on shares of DraftKings in a research report on Friday, July 11th. Twenty-four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.37.

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.