Prospera Financial Services Inc Purchases 13,053 Shares of DraftKings Inc. $DKNG

Prospera Financial Services Inc increased its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 135.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,713 shares of the company’s stock after purchasing an additional 13,053 shares during the quarter. Prospera Financial Services Inc’s holdings in DraftKings were worth $974,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in shares of DraftKings by 2,138.9% in the 1st quarter. AQR Capital Management LLC now owns 4,696,244 shares of the company’s stock worth $155,962,000 after buying an additional 4,486,488 shares during the last quarter. Eminence Capital LP increased its position in shares of DraftKings by 195.2% during the first quarter. Eminence Capital LP now owns 5,178,083 shares of the company’s stock valued at $171,964,000 after acquiring an additional 3,423,909 shares during the last quarter. Nuveen LLC bought a new stake in DraftKings during the first quarter worth $107,739,000. AGF Management Ltd. purchased a new position in DraftKings in the first quarter worth $83,622,000. Finally, Baillie Gifford & Co. boosted its position in DraftKings by 26.5% in the first quarter. Baillie Gifford & Co. now owns 8,390,236 shares of the company’s stock worth $278,640,000 after purchasing an additional 1,756,778 shares during the last quarter. Hedge funds and other institutional investors own 37.70% of the company’s stock.

Insider Transactions at DraftKings

In other news, insider R Stanton Dodge sold 105,554 shares of DraftKings stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $47.37, for a total value of $5,000,092.98. Following the completion of the transaction, the insider directly owned 512,181 shares in the company, valued at approximately $24,262,013.97. The trade was a 17.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry Sloan acquired 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were bought at an average price of $30.30 per share, for a total transaction of $757,500.00. Following the completion of the purchase, the director owned 249,712 shares in the company, valued at $7,566,273.60. This trade represents a 11.13% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders sold 337,916 shares of company stock valued at $14,118,881. 51.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Oppenheimer decreased their target price on DraftKings from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, October 1st. Needham & Company LLC restated a “buy” rating and set a $52.00 price objective on shares of DraftKings in a report on Monday. Northland Capmk raised shares of DraftKings from a “strong sell” rating to a “hold” rating in a research report on Monday. Zacks Research cut shares of DraftKings from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 6th. Finally, Truist Financial decreased their price target on shares of DraftKings from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Monday. Twenty-six analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, DraftKings presently has an average rating of “Moderate Buy” and a consensus target price of $48.66.

DraftKings Stock Performance

NASDAQ DKNG opened at $31.51 on Thursday. The firm has a market cap of $15.68 billion, a P/E ratio of -55.28, a price-to-earnings-growth ratio of 1.02 and a beta of 1.86. The company has a quick ratio of 1.34, a current ratio of 1.10 and a debt-to-equity ratio of 2.51. The company’s 50 day moving average is $36.86 and its 200-day moving average is $39.38. DraftKings Inc. has a 12-month low of $26.23 and a 12-month high of $53.61.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). DraftKings had a negative net margin of 4.90% and a negative return on equity of 22.84%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the firm posted ($0.60) earnings per share. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. DraftKings has set its FY 2025 guidance at EPS. Sell-side analysts predict that DraftKings Inc. will post 0.64 earnings per share for the current year.

About DraftKings

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.