358,186 Shares in DraftKings Inc. $DKNG Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new position in DraftKings Inc. (NASDAQ:DKNG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 358,186 shares of the company’s stock, valued at approximately $15,363,000. DraftKings comprises 0.4% of Y Intercept Hong Kong Ltd’s investment portfolio, making the stock its 23rd largest position.

Several other hedge funds have also made changes to their positions in the stock. Brooklyn Investment Group lifted its holdings in shares of DraftKings by 7.3% in the 1st quarter. Brooklyn Investment Group now owns 3,987 shares of the company’s stock worth $132,000 after purchasing an additional 270 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of DraftKings by 54.4% in the 2nd quarter. TD Private Client Wealth LLC now owns 800 shares of the company’s stock worth $34,000 after purchasing an additional 282 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of DraftKings by 9.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,413 shares of the company’s stock worth $146,000 after purchasing an additional 286 shares during the last quarter. Obermeyer Wealth Partners lifted its holdings in shares of DraftKings by 3.4% in the 1st quarter. Obermeyer Wealth Partners now owns 8,930 shares of the company’s stock worth $297,000 after purchasing an additional 297 shares during the last quarter. Finally, Stevens Capital Management LP lifted its holdings in shares of DraftKings by 3.7% in the 1st quarter. Stevens Capital Management LP now owns 8,989 shares of the company’s stock worth $299,000 after purchasing an additional 319 shares during the last quarter. Institutional investors own 37.70% of the company’s stock.

DraftKings Stock Down 4.9%

Shares of DKNG stock opened at $33.00 on Monday. DraftKings Inc. has a 1 year low of $29.64 and a 1 year high of $53.61. The stock has a market cap of $16.38 billion, a PE ratio of -50.77, a price-to-earnings-growth ratio of 0.82 and a beta of 1.99. The business’s fifty day moving average is $41.22 and its 200-day moving average is $39.71. 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 issued its quarterly earnings results on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the firm earned $0.12 EPS. 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. Equities analysts expect that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DKNG has been the topic of several analyst reports. UBS Group lowered their target price on DraftKings from $58.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Stifel Nicolaus lowered their target price on DraftKings from $53.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Mizuho lowered their target price on DraftKings from $58.00 to $54.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 7th. Northland Capmk cut DraftKings from a “strong-buy” rating to a “strong sell” rating in a research report on Wednesday, October 1st. Finally, Barclays restated an “overweight” rating and issued a $54.00 target price (up from $51.00) on shares of DraftKings in a research report on Friday, August 8th. Twenty-seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.83.

Insider Activity at DraftKings

In related news, insider Matthew Kalish sold 210,000 shares of DraftKings stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $42.90, for a total value of $9,009,000.00. Following the transaction, the insider directly owned 4,190,233 shares in the company, valued at $179,760,995.70. The trade was a 4.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Alan Wayne Ellingson sold 44,693 shares of DraftKings 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 completion of the transaction, the chief financial officer owned 128,131 shares in the company, valued at $5,753,081.90. The trade was a 25.86% 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 in the last quarter. Company insiders own 47.08% of the company’s stock.

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.