Evolution Wealth Advisors LLC Takes Position in DraftKings Inc. (NASDAQ:DKNG)
Evolution Wealth Advisors LLC bought a new stake in DraftKings Inc. (NASDAQ:DKNG) during the third quarter, Holdings Channel reports. The institutional investor bought 1,500 shares of the company’s stock, valued at approximately $88,000.
Other institutional investors and hedge funds have also modified their holdings of the company. US Bancorp DE acquired a new position in shares of DraftKings in the 2nd quarter valued at about $26,000. Bedel Financial Consulting Inc. bought a new stake in shares of DraftKings in the 2nd quarter valued at approximately $27,000. tru Independence LLC bought a new stake in shares of DraftKings in the 2nd quarter valued at approximately $28,000. Nachman Norwood & Parrott Inc bought a new stake in shares of DraftKings in the 3rd quarter valued at approximately $32,000. Finally, Coastal Capital Group Inc. grew its stake in shares of DraftKings by 146.1% in the 3rd quarter. Coastal Capital Group Inc. now owns 598 shares of the company’s stock valued at $37,000 after buying an additional 355 shares in the last quarter. Institutional investors own 51.47% of the company’s stock.
Shares of NASDAQ DKNG opened at $44.34 on Friday. The company has a fifty day moving average price of $48.22. DraftKings Inc. has a one year low of $9.85 and a one year high of $64.19.
Several equities research analysts recently commented on the company. Goldman Sachs Group boosted their price target on DraftKings from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. Zacks Investment Research cut DraftKings from a “hold” rating to a “sell” rating in a research note on Friday, August 28th. Morgan Stanley cut DraftKings from an “overweight” rating to an “equal weight” rating and set a $37.00 price target for the company. in a research note on Friday, August 28th. Northland Securities reissued a “buy” rating and issued a $50.00 price target on shares of DraftKings in a research note on Wednesday, August 19th. Finally, Cowen assumed coverage on DraftKings in a research report on Thursday, October 8th. They set a “market perform” rating and a $55.00 target price for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $53.48.
In other DraftKings news, Director Steven Joseph Murray sold 1,545,924 shares of the stock in a transaction on Friday, October 9th. The stock was sold at an average price of $50.83, for a total transaction of $78,579,316.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
DraftKings Company Profile
DraftKings Inc operates as a digital sports entertainment and gaming company in the United States. The company provides users with daily sports, sports betting, and iGaming opportunities. It is also involved in the design and development of sports betting and casino gaming platform software for online and retail sportsbook, and casino gaming products.
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