3,657 Shares in DraftKings Inc. (NASDAQ:DKNG) Acquired by Brooklyn Investment Group

Brooklyn Investment Group bought a new position in DraftKings Inc. (NASDAQ:DKNG) in the 3rd quarter, Holdings Channel reports. The fund bought 3,657 shares of the company’s stock, valued at approximately $143,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DKNG. LRI Investments LLC purchased a new stake in DraftKings in the 1st quarter worth approximately $33,000. Alta Advisers Ltd purchased a new stake in DraftKings in the 2nd quarter worth approximately $38,000. Redwood Wealth Management Group LLC purchased a new stake in DraftKings in the 2nd quarter worth approximately $39,000. St. Johns Investment Management Company LLC purchased a new stake in DraftKings in the 2nd quarter worth approximately $46,000. Finally, V Square Quantitative Management LLC purchased a new stake in DraftKings in the 3rd quarter worth approximately $46,000. 37.70% of the stock is owned by hedge funds and other institutional investors.

DraftKings Stock Down 0.1 %

Shares of DKNG opened at $43.03 on Thursday. The company has a market cap of $37.89 billion, a PE ratio of -48.90 and a beta of 1.82. The business has a fifty day moving average of $39.20 and a 200 day moving average of $37.92. DraftKings Inc. has a 52-week low of $28.69 and a 52-week high of $49.57. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17.

DraftKings (NASDAQ:DKNG) last released its earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $1.12 billion. On average, sell-side analysts expect that DraftKings Inc. will post -0.79 EPS for the current year.

Analyst Upgrades and Downgrades

DKNG has been the subject of several analyst reports. The Goldman Sachs Group reduced their target price on shares of DraftKings from $60.00 to $54.00 and set a “buy” rating for the company in a report on Monday, August 5th. Mizuho increased their price objective on shares of DraftKings from $54.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, October 18th. BNP Paribas raised shares of DraftKings from an “underperform” rating to a “neutral” rating and set a $35.00 price objective for the company in a report on Tuesday, September 10th. Oppenheimer cut their price objective on shares of DraftKings from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Finally, UBS Group increased their price objective on shares of DraftKings from $56.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.04.

Insider Transactions at DraftKings

In other news, insider Jason Robins sold 3,151 shares of DraftKings 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 completion of the sale, the insider now directly owns 2,631,033 shares in the company, valued at approximately $115,002,452.43. This trade represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Liberman sold 88,441 shares of DraftKings 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 owns 1,923,483 shares of the company’s stock, 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. Over the last ninety days, insiders sold 735,246 shares of company stock worth $29,902,158. 51.19% of the stock is currently owned by insiders.

About DraftKings

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.