Hantz Financial Services Inc. Reduces Stock Position in DraftKings Inc. $DKNG

Hantz Financial Services Inc. lowered its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 70.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,683 shares of the company’s stock after selling 25,275 shares during the quarter. Hantz Financial Services Inc.’s holdings in DraftKings were worth $368,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of DKNG. Viking Global Investors LP purchased a new position in DraftKings during the 3rd quarter valued at $561,125,000. AQR Capital Management LLC grew its position in shares of DraftKings by 63.5% during the 3rd quarter. AQR Capital Management LLC now owns 11,685,672 shares of the company’s stock worth $437,044,000 after buying an additional 4,538,007 shares in the last quarter. Eminence Capital LP grew its position in shares of DraftKings by 31.9% during the 3rd quarter. Eminence Capital LP now owns 6,274,863 shares of the company’s stock worth $234,680,000 after buying an additional 1,517,413 shares in the last quarter. Vanguard Group Inc. grew its position in shares of DraftKings by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 44,758,204 shares of the company’s stock worth $1,542,368,000 after buying an additional 1,354,457 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in shares of DraftKings by 208.8% during the 4th quarter. Nordea Investment Management AB now owns 1,300,308 shares of the company’s stock worth $45,329,000 after buying an additional 879,181 shares in the last quarter. Hedge funds and other institutional investors own 37.70% of the company’s stock.

DraftKings Price Performance

Shares of DKNG stock opened at $24.49 on Friday. DraftKings Inc. has a 1-year low of $20.46 and a 1-year high of $48.78. The stock’s 50-day moving average is $23.61 and its 200 day moving average is $27.78. The company has a market cap of $12.15 billion, a P/E ratio of 408.17 and a beta of 1.67. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.02 and a quick ratio of 1.02.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data on Friday, May 8th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). DraftKings had a net margin of 0.93% and a return on equity of 13.51%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the business earned ($0.07) EPS. DraftKings’s revenue for the quarter was up 16.8% compared to the same quarter last year. Research analysts predict that DraftKings Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Woodrow Levin sold 34,234 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $25.71, for a total transaction of $880,156.14. Following the sale, the director owned 29,820 shares of the company’s stock, valued at $766,672.20. This trade represents a 53.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Liberman sold 484,417 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $25.16, for a total value of $12,187,931.72. Following the sale, the insider directly owned 213,597 shares in the company, valued at approximately $5,374,100.52. The trade was a 69.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 524,546 shares of company stock worth $13,215,769 in the last three months. 47.18% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DKNG. Bank of America dropped their price target on DraftKings from $37.50 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, February 13th. Wells Fargo & Company reissued an “overweight” rating and set a $32.00 price target on shares of DraftKings in a research report on Sunday, May 10th. Stifel Nicolaus dropped their price target on DraftKings from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Benchmark reissued a “buy” rating on shares of DraftKings in a research report on Tuesday, March 3rd. Finally, Morgan Stanley reissued an “overweight” rating on shares of DraftKings in a research report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.32.

DraftKings Company 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.