Wilmington Savings Fund Society FSB Invests $304,000 in DraftKings Inc. (NASDAQ:DKNG)

Wilmington Savings Fund Society FSB bought a new position in DraftKings Inc. (NASDAQ:DKNG) during the 3rd quarter, Holdings Channel reports. The firm bought 7,764 shares of the company’s stock, valued at approximately $304,000.

Other large investors have also recently bought and sold shares of the company. Alta Advisers Ltd acquired a new position in DraftKings during the 2nd quarter worth $38,000. Redwood Wealth Management Group LLC bought a new stake in shares of DraftKings during the 2nd quarter valued at $39,000. Delos Wealth Advisors LLC bought a new stake in shares of DraftKings during the 3rd quarter valued at $43,000. St. Johns Investment Management Company LLC bought a new stake in shares of DraftKings during the 2nd quarter valued at $46,000. Finally, V Square Quantitative Management LLC bought a new stake in shares of DraftKings during the 3rd quarter valued at $46,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. BNP Paribas upgraded shares of DraftKings from an “underperform” rating to a “neutral” rating and set a $35.00 target price for the company in a research report on Tuesday, September 10th. UBS Group upped their target price on shares of DraftKings from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. BMO Capital Markets reiterated an “outperform” rating and set a $48.00 target price on shares of DraftKings in a research report on Wednesday, October 16th. Morgan Stanley upped their target price on shares of DraftKings from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Benchmark restated a “buy” rating and issued a $44.00 price objective on shares of DraftKings in a research report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, DraftKings currently has a consensus rating of “Moderate Buy” and an average target price of $51.00.

Insider Buying and Selling at DraftKings

In other news, 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 transaction of $137,730.21. Following the sale, the insider now directly 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Liberman sold 88,441 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $36.41, for a total value of $3,220,136.81. Following the sale, the insider now directly owns 1,923,483 shares in the company, valued at approximately $70,034,016.03. This trade represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 963,742 shares of company stock valued at $39,668,077 in the last ninety days. 48.94% of the stock is currently owned by corporate insiders.

DraftKings Stock Up 3.8 %

DKNG stock opened at $40.72 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $35.86 billion, a PE ratio of -46.27 and a beta of 1.87. DraftKings Inc. has a 1-year low of $28.69 and a 1-year high of $49.57. The business’s 50 day simple moving average is $40.16 and its 200 day simple moving average is $38.03.

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

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.