Stephens Inc. AR Has $1.76 Million Stock Holdings in DraftKings Inc. $DKNG

Stephens Inc. AR raised its position in DraftKings Inc. (NASDAQ:DKNG) by 6.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,098 shares of the company’s stock after buying an additional 2,368 shares during the quarter. Stephens Inc. AR’s holdings in DraftKings were worth $1,763,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DKNG. GAMMA Investing LLC grew its holdings in DraftKings by 57.1% in the 1st quarter. GAMMA Investing LLC now owns 1,474 shares of the company’s stock valued at $49,000 after buying an additional 536 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in DraftKings by 272.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 116,888 shares of the company’s stock valued at $3,882,000 after buying an additional 85,529 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in DraftKings in the 1st quarter valued at $437,000. Oppenheimer & Co. Inc. grew its holdings in DraftKings by 12.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 86,770 shares of the company’s stock valued at $2,882,000 after buying an additional 9,277 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in DraftKings by 3.7% in the 1st quarter. Asset Management One Co. Ltd. now owns 163,871 shares of the company’s stock valued at $5,442,000 after buying an additional 5,830 shares in the last quarter. 37.70% of the stock is owned by institutional investors and hedge funds.

DraftKings Price Performance

Shares of DKNG stock opened at $34.70 on Friday. 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 Inc. has a twelve month low of $29.64 and a twelve month high of $53.61. The company has a market cap of $17.23 billion, a P/E ratio of -53.38, a P/E/G ratio of 0.87 and a beta of 1.99. The business has a fifty day simple moving average of $41.46 and a 200 day simple moving average of $39.62.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data 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 return on equity of 30.06% and a negative net margin of 5.63%.The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the company earned $0.12 EPS. DraftKings’s revenue for the quarter was up 36.9% on a year-over-year basis. DraftKings has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that DraftKings Inc. will post 0.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $52.00 price objective (up from $51.00) on shares of DraftKings in a report on Friday, July 11th. Stifel Nicolaus cut their target price on DraftKings from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Northland Securities set a $30.00 target price on DraftKings in a research report on Monday, October 13th. UBS Group cut their target price on DraftKings from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. Finally, Wall Street Zen downgraded DraftKings from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Twenty-seven analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, DraftKings currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.83.

Insider Buying and Selling at DraftKings

In related news, Director Jocelyn Moore sold 4,861 shares of the company’s stock in a transaction on 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 $63,129.81. This represents a 76.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ryan R. Moore sold 76,390 shares of the company’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $45.92, for a total value of $3,507,828.80. Following the sale, the director owned 402 shares of the company’s stock, valued at approximately $18,459.84. This represents a 99.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 605,554 shares of company stock worth $26,515,100 over the last quarter. 51.19% of the stock is currently owned by company insiders.

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.