Vontobel Holding Ltd. Buys 28,961 Shares of DraftKings Inc. $DKNG

Vontobel Holding Ltd. lifted its stake in DraftKings Inc. (NASDAQ:DKNG) by 308.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 38,360 shares of the company’s stock after acquiring an additional 28,961 shares during the quarter. Vontobel Holding Ltd.’s holdings in DraftKings were worth $1,435,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. TD Private Client Wealth LLC increased its position in shares of DraftKings by 54.4% during 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. Atlantic Union Bankshares Corp bought a new position in shares of DraftKings in the second quarter valued at $45,000. Delos Wealth Advisors LLC bought a new position in shares of DraftKings in the second quarter valued at $47,000. Ameritas Advisory Services LLC acquired a new position in DraftKings during the second quarter worth $48,000. Finally, Pinnacle Bancorp Inc. increased its holdings in DraftKings by 101.3% during the second quarter. Pinnacle Bancorp Inc. now owns 1,264 shares of the company’s stock worth $54,000 after buying an additional 636 shares during the last quarter. 37.70% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at DraftKings

In other news, Director Harry Sloan purchased 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was acquired at an average cost of $30.30 per share, with a total value of $757,500.00. Following the acquisition, the director owned 249,712 shares in the company, valued at approximately $7,566,273.60. This trade represents a 11.13% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R Stanton Dodge sold 52,777 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $33.84, for a total value of $1,785,973.68. Following the completion of the transaction, the insider directly owned 512,182 shares in the company, valued at approximately $17,332,238.88. This represents a 9.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 166,752 shares of company stock worth $5,387,153 in the last ninety days. 51.19% of the stock is currently owned by company insiders.

DraftKings Stock Performance

Shares of DKNG stock opened at $34.88 on Friday. DraftKings Inc. has a 52 week low of $26.23 and a 52 week high of $53.61. The company has a market capitalization of $17.36 billion, a price-to-earnings ratio of -61.19, a PEG ratio of 2.89 and a beta of 1.60. The company has a 50-day simple moving average of $32.39 and a 200 day simple moving average of $38.86. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.09 and a current ratio of 1.10.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings results on Friday, November 7th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the company earned ($0.60) earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. On average, sell-side analysts predict that DraftKings Inc. will post 0.64 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Macquarie cut their price target on shares of DraftKings from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, November 10th. BMO Capital Markets dropped their target price on shares of DraftKings from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Tuesday, November 4th. Berenberg Bank set a $43.00 target price on shares of DraftKings and gave the company a “buy” rating in a research note on Thursday, October 9th. Benchmark reiterated a “buy” rating on shares of DraftKings in a report on Monday, November 17th. Finally, Citigroup began coverage on DraftKings in a research report on Friday, November 21st. They set a “buy” rating and a $48.00 price target on the stock. Twenty-five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $47.07.

DraftKings Company Profile

DraftKings Inc is a leading digital sports entertainment and gaming company specializing in daily fantasy sports, sports betting and iGaming products. The company provides an integrated platform where users can participate in daily fantasy contests, place wagers on professional sports events, and enjoy a range of online casino-style games. DraftKings’ proprietary technology supports real-time odds, live scoring and advanced analytics to enhance the user experience across mobile and desktop applications.

Founded in 2012 by co-founders Jason Robins, Matthew Kalish and Paul Liberman, DraftKings began as a daily fantasy sports provider and rapidly expanded into regulated sports betting following legislative changes in the United States.