DraftKings Inc. (NASDAQ:DKNG) Stake Boosted by Hantz Financial Services Inc.

Hantz Financial Services Inc. boosted its holdings in DraftKings Inc. (NASDAQ:DKNG) by 241.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,453 shares of the company’s stock after purchasing an additional 3,854 shares during the quarter. Hantz Financial Services Inc.’s holdings in DraftKings were worth $214,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in DKNG. Global Retirement Partners LLC lifted its holdings in shares of DraftKings by 0.6% in the 3rd quarter. Global Retirement Partners LLC now owns 47,067 shares of the company’s stock worth $1,845,000 after purchasing an additional 273 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of DraftKings by 21.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,651 shares of the company’s stock valued at $63,000 after acquiring an additional 286 shares during the period. Creative Financial Designs Inc. ADV grew its position in shares of DraftKings by 36.8% during the third quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock worth $47,000 after acquiring an additional 320 shares during the last quarter. Brown Lisle Cummings Inc. grew its position in shares of DraftKings by 32.5% during the second quarter. Brown Lisle Cummings Inc. now owns 1,325 shares of the company’s stock worth $51,000 after acquiring an additional 325 shares during the last quarter. Finally, HighMark Wealth Management LLC increased its holdings in shares of DraftKings by 18.3% in the 2nd quarter. HighMark Wealth Management LLC now owns 2,129 shares of the company’s stock worth $81,000 after acquiring an additional 329 shares during the period. Institutional investors own 37.70% of the company’s stock.

DraftKings Stock Up 0.6 %

DKNG stock opened at $43.93 on Tuesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $38.69 billion, a P/E ratio of -49.92 and a beta of 1.82. DraftKings Inc. has a 52-week low of $28.69 and a 52-week high of $49.57. The company’s 50 day simple moving average is $39.36 and its 200-day simple moving average is $37.86.

DraftKings (NASDAQ:DKNG) last announced its earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.18). The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. As a group, equities research analysts anticipate that DraftKings Inc. will post -0.79 EPS for the current year.

Insider Buying and Selling

In other news, insider Paul Liberman sold 643,654 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $41.24, for a total value of $26,544,290.96. Following the transaction, the insider now directly owns 137,308 shares of the company’s stock, valued at approximately $5,662,581.92. This represents a 82.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jason Robins sold 3,151 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $43.71, for a total value of $137,730.21. Following the sale, the insider now owns 2,631,033 shares of the company’s stock, valued at approximately $115,002,452.43. This represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 735,246 shares of company stock valued at $29,902,158. Corporate insiders own 51.19% of the company’s stock.

Analyst Ratings Changes

DKNG has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their target price on shares of DraftKings from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Morgan Stanley raised their target price on DraftKings from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Oppenheimer reduced their price target on DraftKings from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Mizuho raised their price target on DraftKings from $54.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, JMP Securities upped their price objective on shares of DraftKings from $51.00 to $52.00 and gave the stock a “market outperform” rating in a report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $51.04.

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.