Ameritas Advisory Services LLC lessened its stake in DraftKings Inc. (NASDAQ:DKNG – Free Report) by 3.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,500 shares of the company’s stock after selling 628 shares during the quarter. Ameritas Advisory Services LLC’s holdings in DraftKings were worth $404,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. acquired a new position in DraftKings in the 4th quarter valued at about $25,000. Baystate Wealth Management LLC grew its position in DraftKings by 18.7% in the first quarter. Baystate Wealth Management LLC now owns 3,911 shares of the company’s stock worth $76,000 after acquiring an additional 617 shares during the period. Capital Impact Advisors LLC increased its stake in DraftKings by 17.5% during the fourth quarter. Capital Impact Advisors LLC now owns 4,556 shares of the company’s stock worth $52,000 after acquiring an additional 678 shares during the last quarter. Hollencrest Capital Management purchased a new stake in DraftKings in the fourth quarter valued at $64,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of DraftKings by 12.9% in the 4th quarter. First Horizon Advisors Inc. now owns 5,943 shares of the company’s stock valued at $68,000 after purchasing an additional 681 shares during the last quarter. Hedge funds and other institutional investors own 30.57% of the company’s stock.
DraftKings Stock Up 1.3 %
DKNG stock opened at $31.08 on Friday. The stock has a market cap of $26.57 billion, a P/E ratio of -10.72 and a beta of 1.79. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.23. DraftKings Inc. has a twelve month low of $10.69 and a twelve month high of $31.70. The company’s 50 day moving average is $26.01 and its two-hundred day moving average is $20.88.
Insider Transactions at DraftKings
In related news, CAO Erik Bradbury sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $30.12, for a total transaction of $90,360.00. Following the transaction, the chief accounting officer now owns 25,070 shares in the company, valued at approximately $755,108.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider R Stanton Dodge sold 211,108 shares of the company’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $30.12, for a total value of $6,358,572.96. Following the completion of the sale, the insider now owns 629,023 shares in the company, valued at approximately $18,946,172.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Erik Bradbury sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $30.12, for a total transaction of $90,360.00. Following the transaction, the chief accounting officer now directly owns 25,070 shares in the company, valued at $755,108.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,250,543 shares of company stock worth $31,726,951. Corporate insiders own 55.92% of the company’s stock.
Analyst Ratings Changes
Several analysts recently issued reports on DKNG shares. Stifel Nicolaus boosted their price objective on shares of DraftKings from $21.00 to $23.00 in a report on Thursday, May 4th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of DraftKings from $22.00 to $24.00 in a research note on Thursday, July 6th. Bank of America upgraded shares of DraftKings from a “neutral” rating to a “buy” rating and lifted their target price for the company from $25.00 to $35.00 in a report on Wednesday, July 12th. Piper Sandler boosted their target price on DraftKings from $30.00 to $35.00 in a research report on Friday, July 14th. Finally, Oppenheimer raised their price target on DraftKings from $30.00 to $36.00 in a research report on Friday, July 7th. Five analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $28.00.
DraftKings Profile
DraftKings Inc operates a digital sports entertainment and gaming company. It offers multi-channel sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. The company operates iGaming through its DraftKings brand in 5 states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand in 3 states.
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