DraftKings Inc. $DKNG Shares Acquired by Bienville Capital Management LLC

Bienville Capital Management LLC increased its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 8.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 670,417 shares of the company’s stock after buying an additional 51,601 shares during the period. DraftKings comprises approximately 5.7% of Bienville Capital Management LLC’s investment portfolio, making the stock its 5th largest holding. Bienville Capital Management LLC owned approximately 0.08% of DraftKings worth $28,754,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in DraftKings by 1.6% during the second quarter. Vanguard Group Inc. now owns 43,761,344 shares of the company’s stock valued at $1,876,924,000 after purchasing an additional 670,884 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of DraftKings by 0.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 18,700,071 shares of the company’s stock worth $621,030,000 after purchasing an additional 130,434 shares during the last quarter. Geode Capital Management LLC lifted its stake in DraftKings by 5.4% in the 2nd quarter. Geode Capital Management LLC now owns 9,014,088 shares of the company’s stock valued at $385,552,000 after buying an additional 458,452 shares in the last quarter. Norges Bank purchased a new position in DraftKings in the 2nd quarter valued at about $362,554,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in DraftKings by 4.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,393,947 shares of the company’s stock worth $317,126,000 after buying an additional 295,306 shares during the last quarter. Hedge funds and other institutional investors own 37.70% of the company’s stock.

DraftKings Stock Up 1.8%

NASDAQ DKNG opened at $35.52 on Friday. The business’s fifty day simple moving average is $32.33 and its 200-day simple moving average is $38.88. The company has a quick ratio of 1.09, a current ratio of 1.10 and a debt-to-equity ratio of 2.51. The firm has a market cap of $17.68 billion, a PE ratio of -62.32, a P/E/G ratio of 2.89 and a beta of 1.60. DraftKings Inc. has a 52 week low of $26.23 and a 52 week high of $53.61.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data on Friday, November 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). DraftKings had a negative net margin of 4.90% and a negative return on equity of 22.84%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the company posted ($0.60) EPS. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities analysts anticipate that DraftKings Inc. will post 0.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DKNG. Oppenheimer reduced their target price on DraftKings from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, October 1st. Wall Street Zen cut DraftKings from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Wells Fargo & Company assumed coverage on DraftKings in a report on Tuesday, November 18th. They issued an “equal weight” rating and a $31.00 price objective on the stock. Berenberg Bank set a $43.00 target price on shares of DraftKings and gave the stock a “buy” rating in a research note on Thursday, October 9th. Finally, UBS Group reaffirmed a “buy” rating on shares of DraftKings in a report on Tuesday, November 25th. Twenty-five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.48.

Insider Activity

In other news, Director Gregory Westin Wendt purchased 10,000 shares of DraftKings stock in a transaction dated Tuesday, November 11th. The shares were purchased at an average price of $30.27 per share, with a total value of $302,700.00. Following the transaction, the director owned 10,000 shares in the company, valued at $302,700. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Harry Sloan acquired 25,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was acquired at an average price of $30.30 per share, with a total value of $757,500.00. Following the completion of the transaction, the director directly owned 249,712 shares of the company’s stock, valued at $7,566,273.60. This trade represents a 11.13% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 166,752 shares of company stock worth $5,387,153 over the last quarter. 51.19% of the stock is currently owned by corporate 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.