12,467 Shares in DraftKings Inc. $DKNG Bought by Fortis Capital Advisors LLC

Fortis Capital Advisors LLC acquired a new position in shares of DraftKings Inc. (NASDAQ:DKNG) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 12,467 shares of the company’s stock, valued at approximately $535,000.

Several other institutional investors and hedge funds also recently modified their holdings of DKNG. AQR Capital Management LLC grew its stake in shares of DraftKings by 2,138.9% in the first quarter. AQR Capital Management LLC now owns 4,696,244 shares of the company’s stock worth $155,962,000 after purchasing an additional 4,486,488 shares in the last quarter. Eminence Capital LP lifted its holdings in shares of DraftKings by 195.2% in the first quarter. Eminence Capital LP now owns 5,178,083 shares of the company’s stock valued at $171,964,000 after buying an additional 3,423,909 shares during the period. Nuveen LLC purchased a new stake in shares of DraftKings during the first quarter valued at $107,739,000. AGF Management Ltd. purchased a new stake in shares of DraftKings during the first quarter valued at $83,622,000. Finally, Baillie Gifford & Co. lifted its holdings in shares of DraftKings by 26.5% during the first quarter. Baillie Gifford & Co. now owns 8,390,236 shares of the company’s stock valued at $278,640,000 after purchasing an additional 1,756,778 shares during the last quarter. Institutional investors own 37.70% of the company’s stock.

DraftKings Stock Up 1.4%

Shares of DKNG stock opened at $35.37 on Friday. The stock’s 50 day simple moving average is $44.25 and its 200 day simple moving average is $39.80. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.34 and a current ratio of 1.34. DraftKings Inc. has a twelve month low of $29.64 and a twelve month high of $53.61. The company has a market capitalization of $17.56 billion, a price-to-earnings ratio of -54.42, a PEG ratio of 0.93 and a beta of 1.99.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.14. DraftKings had a negative return on equity of 30.06% and a negative net margin of 5.63%.The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the business earned $0.12 EPS. The firm’s revenue was up 36.9% compared to the same quarter last year. DraftKings has set its FY 2025 guidance at EPS. As a group, research analysts predict that DraftKings Inc. will post 0.64 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DKNG. UBS Group reduced their target price on DraftKings from $58.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, September 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $52.00 target price (up from $51.00) on shares of DraftKings in a report on Friday, July 11th. Stifel Nicolaus reduced their target price on DraftKings from $53.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DraftKings in a report on Saturday, September 27th. Finally, Citigroup reaffirmed a “neutral” rating on shares of DraftKings in a report on Wednesday. Twenty-six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, DraftKings currently has an average rating of “Moderate Buy” and a consensus price target of $53.89.

Insider Buying and Selling

In other DraftKings news, insider R Stanton Dodge sold 105,554 shares of DraftKings stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $44.60, for a total value of $4,707,708.40. Following the transaction, the insider directly owned 500,000 shares of the company’s stock, valued at $22,300,000. The trade was a 17.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jocelyn Moore sold 4,861 shares of DraftKings stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $43.21, for a total value of $210,043.81. Following the completion of the transaction, the director directly owned 1,461 shares in the company, valued at approximately $63,129.81. This represents a 76.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 658,331 shares of company stock worth $29,285,365. 51.19% of the stock is currently owned by company insiders.

DraftKings 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.