Liberty One Investment Management LLC Buys 1,531 Shares of DraftKings Inc. $DKNG

Liberty One Investment Management LLC increased its stake in shares of DraftKings Inc. (NASDAQ:DKNG) by 33.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,176 shares of the company’s stock after acquiring an additional 1,531 shares during the quarter. Liberty One Investment Management LLC’s holdings in DraftKings were worth $265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Smallwood Wealth Investment Management LLC acquired a new position in DraftKings during the first quarter worth $27,000. Bank of Jackson Hole Trust acquired a new position in DraftKings during the first quarter worth $31,000. TD Private Client Wealth LLC raised its holdings in DraftKings by 54.4% during the second quarter. TD Private Client Wealth LLC now owns 800 shares of the company’s stock worth $34,000 after buying an additional 282 shares during the last quarter. Summit Securities Group LLC raised its holdings in DraftKings by 349.1% during the first quarter. Summit Securities Group LLC now owns 1,042 shares of the company’s stock worth $35,000 after buying an additional 810 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in DraftKings during the second quarter worth $48,000. 37.70% of the stock is owned by institutional investors.

Insider Buying and Selling at DraftKings

In related news, insider R Stanton Dodge sold 105,554 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $47.37, for a total transaction of $5,000,092.98. Following the completion of the sale, the insider owned 512,181 shares in the company, valued at approximately $24,262,013.97. This trade represents a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Alan Wayne Ellingson sold 44,693 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $44.90, for a total transaction of $2,006,715.70. Following the sale, the chief financial officer owned 128,131 shares of the company’s stock, valued at $5,753,081.90. This trade represents a 25.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 552,777 shares of company stock valued at $24,690,599 in the last three months. 47.08% of the stock is owned by corporate insiders.

DraftKings Stock Up 0.1%

DraftKings stock opened at $33.62 on Wednesday. DraftKings Inc. has a fifty-two week low of $29.64 and a fifty-two week high of $53.61. The stock has a market cap of $16.69 billion, a PE ratio of -51.72, a price-to-earnings-growth ratio of 0.84 and a beta of 1.99. The firm’s 50-day simple moving average is $41.81 and its 200 day simple moving average is $39.64. 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 results on Thursday, August 7th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate 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 period in the previous year, the company earned $0.12 earnings per share. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year. DraftKings has set its FY 2025 guidance at EPS. Research analysts predict that DraftKings Inc. will post 0.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on DKNG shares. Wall Street Zen downgraded shares of DraftKings from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Northland Capmk downgraded shares of DraftKings from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, October 1st. Oppenheimer lowered their price objective on shares of DraftKings from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Wednesday, October 1st. Jefferies Financial Group set a $52.00 price objective on shares of DraftKings in a report on Monday, October 6th. Finally, Citigroup restated a “neutral” rating on shares of DraftKings in a report on Wednesday, October 1st. Twenty-seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.83.

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.