Foundations Investment Advisors LLC Acquires 21,142 Shares of DraftKings Inc. $DKNG

Foundations Investment Advisors LLC increased its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 30.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 90,998 shares of the company’s stock after acquiring an additional 21,142 shares during the period. Foundations Investment Advisors LLC’s holdings in DraftKings were worth $3,136,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in DKNG. IHT Wealth Management LLC increased its stake in DraftKings by 4.1% in the 2nd quarter. IHT Wealth Management LLC now owns 6,271 shares of the company’s stock valued at $269,000 after buying an additional 248 shares during the last quarter. Orion Porfolio Solutions LLC grew its holdings in shares of DraftKings by 3.1% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 10,608 shares of the company’s stock valued at $397,000 after acquiring an additional 321 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of DraftKings by 3.8% in the 4th quarter. Global Retirement Partners LLC now owns 10,365 shares of the company’s stock valued at $357,000 after acquiring an additional 379 shares in the last quarter. Ameriflex Group Inc. increased its position in shares of DraftKings by 100.0% in the third quarter. Ameriflex Group Inc. now owns 810 shares of the company’s stock valued at $30,000 after acquiring an additional 405 shares during the last quarter. Finally, Centaurus Financial Inc. increased its position in shares of DraftKings by 4.1% in the third quarter. Centaurus Financial Inc. now owns 10,511 shares of the company’s stock valued at $393,000 after acquiring an additional 410 shares during the last quarter. Institutional investors own 37.70% of the company’s stock.

DraftKings Stock Down 0.2%

Shares of DKNG opened at $24.49 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.03. DraftKings Inc. has a 12 month low of $20.46 and a 12 month high of $48.78. The firm’s 50 day moving average is $23.61 and its 200-day moving average is $27.78. The stock has a market capitalization of $12.15 billion, a PE ratio of 408.17 and a beta of 1.67.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). DraftKings had a return on equity of 13.51% and a net margin of 0.93%.The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the business posted ($0.07) EPS. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. Equities research analysts forecast that DraftKings Inc. will post 0.6 EPS for the current year.

Insider Activity

In other news, CAO Erik Bradbury sold 2,883 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $24.56, for a total transaction of $70,806.48. Following the completion of the sale, the chief accounting officer owned 38,168 shares of the company’s stock, valued at approximately $937,406.08. This represents a 7.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jocelyn Moore sold 2,150 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $25.60, for a total value of $55,040.00. Following the sale, the director owned 1,406 shares of the company’s stock, valued at $35,993.60. The trade was a 60.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 524,546 shares of company stock valued at $13,215,769 over the last quarter. 47.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on DKNG shares. Oppenheimer lowered their target price on shares of DraftKings from $50.00 to $35.00 and set an “outperform” rating on the stock in a report on Tuesday, February 17th. BMO Capital Markets lifted their price objective on shares of DraftKings from $42.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, March 3rd. Morgan Stanley restated an “overweight” rating on shares of DraftKings in a research note on Thursday, May 21st. Deutsche Bank Aktiengesellschaft cut shares of DraftKings from a “hold” rating to a “hold” rating in a report on Friday, April 24th. Finally, Zacks Research upgraded shares of DraftKings from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, DraftKings has an average rating of “Moderate Buy” and an average target price of $34.32.

DraftKings Company Profile

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.