Deltec Asset Management LLC Acquires New Shares in Draftkings Inc (NASDAQ:DKNG)

Deltec Asset Management LLC acquired a new stake in shares of Draftkings Inc (NASDAQ:DKNG) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,000 shares of the company’s stock, valued at approximately $333,000.

Other large investors also recently added to or reduced their stakes in the company. Fulton Bank N. A. acquired a new stake in shares of Draftkings in the second quarter valued at $239,000. Envestnet Asset Management Inc. acquired a new stake in shares of Draftkings in the second quarter valued at $1,054,000. Carnegie Capital Asset Management LLC acquired a new stake in shares of Draftkings in the second quarter valued at $10,509,000. Mount Yale Investment Advisors LLC acquired a new stake in shares of Draftkings in the second quarter valued at $248,000. Finally, Carroll Financial Associates Inc. acquired a new stake in shares of Draftkings in the second quarter valued at $138,000. Institutional investors and hedge funds own 9.25% of the company’s stock.

NASDAQ:DKNG opened at $33.38 on Friday. Draftkings Inc has a 1-year low of $9.76 and a 1-year high of $44.79. The company’s fifty day simple moving average is $35.54.

Draftkings (NASDAQ:DKNG) last posted its quarterly earnings results on Friday, May 15th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.15. Equities analysts predict that Draftkings Inc will post -0.7 EPS for the current fiscal year.

In related news, insider Paul Liberman sold 796,348 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $38.80, for a total transaction of $30,898,302.40. Following the transaction, the insider now directly owns 106,021 shares of the company’s stock, valued at $4,113,614.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason Park sold 76,128 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $38.80, for a total value of $2,953,766.40. Following the transaction, the chief financial officer now directly owns 14,497 shares in the company, valued at $562,483.60. The disclosure for this sale can be found here. Insiders have sold 1,471,338 shares of company stock worth $57,087,914 over the last three months.

Several analysts have recently weighed in on DKNG shares. Jefferies Financial Group started coverage on Draftkings in a report on Monday, June 22nd. They issued a “buy” rating and a $55.00 price objective for the company. Benchmark started coverage on Draftkings in a report on Friday. They issued a “buy” rating and a $47.00 price objective for the company. Cannonball Research started coverage on Draftkings in a report on Tuesday, May 26th. They issued a “buy” rating and a $35.00 price objective for the company. Canaccord Genuity boosted their target price on Draftkings from $35.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. They noted that the move was a valuation call. Finally, Oppenheimer started coverage on Draftkings in a research report on Sunday, July 26th. They set a “buy” rating and a $46.00 target price on the stock. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $44.00.

About Draftkings

DraftKings Inc operates as a digital sports entertainment and gaming company. It provides users with daily sports, sports betting, and iGaming opportunities. It is also involved the design and development of sports betting and casino gaming platform software for online and retail sportsbook, and casino gaming products.

Recommended Story: What is the balance sheet?

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).

Institutional Ownership by Quarter for Draftkings (NASDAQ:DKNG)

Receive News & Ratings for Draftkings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Draftkings and related companies with MarketBeat.com's FREE daily email newsletter.