DraftKings Inc. (NASDAQ:DKNG) shares acquired by Xponance Inc


Xponance Inc. raised its stake in shares of DraftKings Inc. (NASDAQ:DKNG – Free Report) by 1.1% in the third quarter, the company said in its most recent filing with the Securities & Exchange Commission. The company owned 59,403 shares of the company’s stock after purchasing an additional 670 shares during the quarter. Xponance Inc.’s shares in DraftKings were worth $1,749,000 at the end of the last quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in DKNG. Marshall Wace LLP increased its stake in DraftKings by 298.2% in the 2nd quarter. Marshall Wace LLP now owns 1,114,676 shares of the company’s stock valued at $29,617,000 after purchasing an additional 834,719 shares in the last quarter. Asset Management One Co. Ltd. acquired a new stake in DraftKings in the third quarter valued at approximately $4,502,000. Jericho Capital Asset Management LP increased its stake in DraftKings by 68.1% in the second quarter. Jericho Capital Asset Management LP now owns 5,131,967 shares of the company’s stock valued at $136,356,000 after purchasing an additional 2,079,676 shares in the last quarter. Deltec Asset Management LLC increased its stake in DraftKings by 355.7% in the 3rd quarter. Deltec Asset Management LLC now owns 139,000 shares of the company’s stock worth $4,092,000 after purchasing an additional 108,500 shares in the last quarter. Finally, Numerai GP LLC increased its holdings in shares of DraftKings by 603.1% in the 2nd quarter. Numerai GP LLC now owns 396,944 shares of the company’s stock valued at $10,547,000 after purchasing an additional 340,487 shares in the last quarter. 32.84% of the shares are owned by institutional investors and hedge funds.

Insider activity

Additionally, CFO Jason Park sold 750,000 shares of DraftKings stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $38.27, for a total transaction of $28,702,500.00. Following the sale, the CFO now owns 105,217 shares of the company’s stock, valued at $4,026,654.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC website. Also, CFO Jason Park sold 750,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $38.27, for a total transaction of $28,702,500.00. Following the completion of the sale, the CFO now owns 105,217 shares of the company’s stock, valued at $4,026,654.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. Also, insider R Stanton Dodge sold 105,554 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $35.82, for a total transaction of $3,780,944.28. Following the sale, the insider now directly owns 652,984 shares in the company, valued at approximately $23,389,886.88. The disclosure for this sale can be found here. Insiders have sold 2,408,800 shares of company stock worth $87,716,006 in the last 90 days. Company insiders own 51.19% of the company’s shares.

DraftKings Trading Up 0.9%

DKNG opened at $33.18 on Friday. The company has a market cap of $28.51 billion, a P/E ratio of -15.22 and a beta of 1.87. The company’s 50-day moving average is $35.52 and its 200-day moving average is $31.27. DraftKings Inc. has a 52-week low of $11.14 and a 52-week high of $39.35. The company has a short ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.56.

DraftKings (NASDAQ:DKNG – Get Free Report) last released its quarterly earnings data on Thursday, November 2nd. The company reported ($0.61) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.08. The company had revenue of $789.96 million for the quarter, compared to analyst estimates of $702.26 million. DraftKings had a negative net margin of 30.41% and a negative return on equity of 96.17%. Analysts expect DraftKings Inc. to report EPS of -1.47 for the current fiscal year.

Changes in Analyst Ratings

Several equities analysts have published reports on the stock. UBS Group increased their price target on shares of DraftKings from $39.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, November 7th. Truist Financial increased their price objective on shares of DraftKings from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. Benchmark raised their price objective on shares of DraftKings from $37.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Moffett Nathanson upgraded shares of DraftKings from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Tuesday, October 24th. Finally, JMP Securities reaffirmed an “outperform market” rating and set a $39.00 price target on shares of DraftKings in a research note on Monday, September 25th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty have assigned a buy rating to the stock. The company has a consensus rating of Moderate Buy and an average price target of $35.86, according to data from MarketBeat.

Read our latest stock analysis for DKNG

About DraftKings

(Free Report)

DraftKings Inc operates as a digital sports entertainment and gaming company in the United States and internationally. It offers online sports betting and casino, daily fantasy sports, media and other consumer products, and retail sports betting. The Company is also engaged in the design and development of sports betting and casino gaming software for online and retail sportsbooks and iGaming operators.

Read more

Want to see what other hedge funds are holding DKNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DraftKings Inc. (NASDAQ:DKNG – Free Report).

Institutional Ownership by Quarter for DraftKings (NASDAQ:DKNG)



Get daily news and reviews for DraftKings – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for DraftKings and related companies with MarketBeat.com’s FREE daily email newsletter.

Source link