Future Financial Wealth Managment LLC Has $531,000 Holdings in DraftKings Inc. $DKNG

Future Financial Wealth Managment LLC lessened its position in DraftKings Inc. (NASDAQ:DKNG) by 7.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,389 shares of the company’s stock after selling 1,004 shares during the quarter. Future Financial Wealth Managment LLC’s holdings in DraftKings were worth $531,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of DKNG. T. Rowe Price Investment Management Inc. lifted its position in shares of DraftKings by 0.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 18,700,071 shares of the company’s stock worth $621,030,000 after purchasing an additional 130,434 shares during the last quarter. Baillie Gifford & Co. lifted its position in shares of DraftKings by 26.5% during the 1st quarter. Baillie Gifford & Co. now owns 8,390,236 shares of the company’s stock worth $278,640,000 after purchasing an additional 1,756,778 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in DraftKings by 4.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,098,641 shares of the company’s stock worth $235,746,000 after buying an additional 301,134 shares during the period. Eminence Capital LP increased its position in DraftKings by 195.2% in the 1st quarter. Eminence Capital LP now owns 5,178,083 shares of the company’s stock worth $171,964,000 after buying an additional 3,423,909 shares during the period. Finally, AQR Capital Management LLC increased its position in DraftKings by 2,138.9% in the 1st quarter. AQR Capital Management LLC now owns 4,696,244 shares of the company’s stock worth $155,962,000 after buying an additional 4,486,488 shares during the period. 37.70% of the stock is currently owned by institutional investors.

DraftKings Stock Performance

NASDAQ DKNG opened at $35.37 on Friday. The stock has a market cap of $17.56 billion, a P/E ratio of -54.42, a PEG ratio of 0.91 and a beta of 1.99. The company’s 50-day simple moving average is $44.25 and its 200 day simple moving average is $39.79. DraftKings Inc. has a twelve month low of $29.64 and a twelve month high of $53.61. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.82.

DraftKings (NASDAQ:DKNG) last posted its earnings results 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. DraftKings had a negative net margin of 5.63% and a negative return on equity of 30.06%. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the firm posted $0.12 earnings per share. The firm’s revenue for the quarter was up 36.9% on a year-over-year basis. DraftKings has set its FY 2025 guidance at EPS. As a group, research analysts forecast that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DKNG has been the topic of several recent analyst reports. Stifel Nicolaus dropped their price target on DraftKings from $53.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Morgan Stanley reaffirmed an “overweight” rating and set a $52.00 target price (up previously from $51.00) on shares of DraftKings in a research report on Friday, July 11th. UBS Group dropped their price objective on shares of DraftKings from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, September 24th. Northland Capmk downgraded shares of DraftKings from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday. Finally, Susquehanna restated a “positive” rating and set a $64.00 price objective on shares of DraftKings in a report on Friday, August 8th. Twenty-six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, DraftKings has a consensus rating of “Moderate Buy” and a consensus target price of $53.89.

Insider Transactions at DraftKings

In other DraftKings news, CFO Alan Wayne Ellingson sold 44,693 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $44.90, for a total value of $2,006,715.70. Following the sale, the chief financial officer directly owned 128,131 shares in the company, valued at $5,753,081.90. This represents a 25.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jocelyn Moore sold 4,861 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $43.21, for a total transaction of $210,043.81. Following the completion of the sale, the director directly owned 1,461 shares in the company, valued at approximately $63,129.81. The trade was a 76.89% 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 valued at $29,285,365. 51.19% of the stock is owned by insiders.

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.