Asset Management One Co. Ltd. Acquires 3,208 Shares of DraftKings Inc. $DKNG

Asset Management One Co. Ltd. raised its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 167,079 shares of the company’s stock after purchasing an additional 3,208 shares during the period. Asset Management One Co. Ltd.’s holdings in DraftKings were worth $7,166,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Roman Butler Fullerton & Co. grew its holdings in DraftKings by 7.2% during the second quarter. Roman Butler Fullerton & Co. now owns 31,346 shares of the company’s stock valued at $1,406,000 after purchasing an additional 2,111 shares during the period. Paralel Advisors LLC bought a new position in DraftKings during the second quarter valued at $25,734,000. Parcion Private Wealth LLC grew its holdings in DraftKings by 11.8% during the second quarter. Parcion Private Wealth LLC now owns 13,786 shares of the company’s stock valued at $591,000 after purchasing an additional 1,459 shares during the period. D.A. Davidson & CO. grew its holdings in DraftKings by 1.5% during the second quarter. D.A. Davidson & CO. now owns 42,218 shares of the company’s stock valued at $1,811,000 after purchasing an additional 606 shares during the period. Finally, Coronation Fund Managers Ltd. bought a new position in DraftKings during the second quarter valued at $516,000. 37.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DKNG has been the subject of several research reports. Mizuho reduced their price objective on DraftKings from $58.00 to $54.00 and set an “outperform” rating for the company in a report on Tuesday, October 7th. Benchmark reissued a “buy” rating on shares of DraftKings in a report on Wednesday, October 22nd. Jefferies Financial Group set a $52.00 target price on DraftKings in a research report on Monday, October 6th. Wall Street Zen downgraded DraftKings from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, BTIG Research dropped their target price on DraftKings from $53.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Twenty-seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.79.

DraftKings Trading Down 0.1%

Shares of DKNG stock opened at $32.96 on Tuesday. 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 Inc. has a 52-week low of $29.64 and a 52-week high of $53.61. The company has a market capitalization of $16.36 billion, a PE ratio of -50.71, a price-to-earnings-growth ratio of 0.82 and a beta of 1.99. The business’s fifty day moving average is $40.97 and its 200 day moving average is $39.69.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.39 billion. During the same quarter last year, the business posted $0.12 earnings per share. The firm’s revenue was up 36.9% compared to the same quarter last year. DraftKings has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that DraftKings Inc. will post 0.64 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jocelyn Moore sold 4,861 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $43.21, for a total value of $210,043.81. Following the transaction, the director owned 1,461 shares of the company’s stock, valued at $63,129.81. This represents a 76.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ryan R. Moore sold 76,390 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $45.92, for a total value of $3,507,828.80. Following the completion of the transaction, the director directly owned 402 shares in the company, valued at approximately $18,459.84. This represents a 99.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 605,554 shares of company stock valued at $26,515,100 in the last ninety days. 47.08% 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.