17,504 Shares in DraftKings Inc. (NASDAQ:DKNG) Purchased by Retirement Planning Group LLC

Retirement Planning Group LLC acquired a new stake in DraftKings Inc. (NASDAQ:DKNG) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 17,504 shares of the company’s stock, valued at approximately $686,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DKNG. RDA Financial Network bought a new stake in shares of DraftKings during the first quarter valued at approximately $232,000. Sanctuary Advisors LLC bought a new position in DraftKings in the 2nd quarter valued at $1,530,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of DraftKings by 63.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 81,979 shares of the company’s stock valued at $3,129,000 after buying an additional 31,880 shares during the period. LRI Investments LLC bought a new stake in shares of DraftKings during the first quarter worth $31,000. Finally, Atwood & Palmer Inc. lifted its stake in shares of DraftKings by 4.0% during the third quarter. Atwood & Palmer Inc. now owns 515,075 shares of the company’s stock valued at $20,191,000 after acquiring an additional 19,887 shares during the period. Institutional investors and hedge funds own 37.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DKNG. The Goldman Sachs Group lowered their price objective on DraftKings from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Wells Fargo & Company dropped their price target on shares of DraftKings from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of DraftKings in a research note on Monday, September 23rd. Benchmark reiterated a “buy” rating and set a $44.00 target price on shares of DraftKings in a research report on Monday, October 7th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $48.00 price target (down from $50.00) on shares of DraftKings in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.89.

DraftKings Trading Up 1.1 %

NASDAQ:DKNG opened at $38.44 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.97. DraftKings Inc. has a twelve month low of $25.73 and a twelve month high of $49.57. The company has a market cap of $33.41 billion, a P/E ratio of -32.58 and a beta of 1.81. The business has a 50 day moving average price of $36.08 and a two-hundred day moving average price of $38.85.

DraftKings (NASDAQ:DKNG) last announced its earnings results on Thursday, August 1st. The company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.13. DraftKings had a negative net margin of 9.45% and a negative return on equity of 43.11%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the company posted ($0.17) earnings per share. The firm’s revenue was up 26.2% on a year-over-year basis. As a group, analysts expect that DraftKings Inc. will post -0.31 EPS for the current fiscal year.

Insider Activity

In related news, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $35.25, for a total transaction of $7,050,000.00. Following the sale, the insider now owns 2,678,082 shares in the company, valued at approximately $94,402,390.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other DraftKings news, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $35.25, for a total transaction of $7,050,000.00. Following the sale, the insider now directly owns 2,678,082 shares of the company’s stock, valued at approximately $94,402,390.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul Liberman sold 88,441 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $35.64, for a total transaction of $3,152,037.24. Following the completion of the sale, the insider now owns 2,498,483 shares of the company’s stock, valued at approximately $89,045,934.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,132,095 shares of company stock worth $42,890,328 in the last quarter. Corporate insiders own 51.19% of the company’s stock.

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.