Janus Henderson Group PLC Purchases 2,351,790 Shares of DraftKings Inc. $DKNG

Janus Henderson Group PLC boosted its position in DraftKings Inc. (NASDAQ:DKNG) by 9.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,665,699 shares of the company’s stock after purchasing an additional 2,351,790 shares during the quarter. Janus Henderson Group PLC owned about 5.58% of DraftKings worth $588,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of DKNG. Viking Global Investors LP purchased a new position in shares of DraftKings during the 3rd quarter valued at $561,125,000. Capital World Investors raised its position in shares of DraftKings by 181.4% in the fourth quarter. Capital World Investors now owns 18,626,429 shares of the company’s stock worth $641,867,000 after buying an additional 12,008,357 shares in the last quarter. Norges Bank purchased a new stake in shares of DraftKings in the fourth quarter worth $284,466,000. Spruce House Investment Management LLC boosted its stake in DraftKings by 129.6% during the first quarter. Spruce House Investment Management LLC now owns 9,650,000 shares of the company’s stock valued at $208,633,000 after buying an additional 5,446,166 shares during the period. Finally, AQR Capital Management LLC boosted its stake in DraftKings by 41.0% during the fourth quarter. AQR Capital Management LLC now owns 16,474,009 shares of the company’s stock valued at $567,694,000 after buying an additional 4,788,337 shares during the period. 37.70% of the stock is owned by institutional investors.

Insider Transactions at DraftKings

In related news, Director Woodrow Levin sold 34,234 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $25.71, for a total value of $880,156.14. Following the completion of the sale, the director owned 29,820 shares in the company, valued at $766,672.20. The trade was a 53.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider R Stanton Dodge sold 62,500 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $29.68, for a total value of $1,855,000.00. Following the completion of the sale, the insider directly owned 556,258 shares of the company’s stock, valued at approximately $16,509,737.44. This represents a 10.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 97,596 shares of company stock worth $2,756,991. 47.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on DKNG shares. Raymond James Financial upgraded DraftKings from a “market perform” rating to an “outperform” rating in a research report on Friday, April 24th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of DraftKings in a report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft lifted their price target on DraftKings from $26.00 to $28.00 and gave the company a “hold” rating in a research report on Thursday, July 9th. Benchmark reissued a “buy” rating on shares of DraftKings in a report on Monday, July 20th. Finally, Barclays upped their price objective on shares of DraftKings from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.37.

DraftKings Stock Down 0.3%

DKNG opened at $24.55 on Thursday. The business’s fifty day simple moving average is $25.60 and its 200 day simple moving average is $25.45. DraftKings Inc. has a 52 week low of $20.46 and a 52 week high of $48.78. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.03. The stock has a market cap of $12.18 billion, a PE ratio of 409.17 and a beta of 1.65.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.02). DraftKings had a return on equity of 13.51% and a net margin of 0.93%.The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the firm earned ($0.07) EPS. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. As a group, research analysts expect that DraftKings Inc. will post 0.54 earnings per share for the current fiscal year.

DraftKings 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.