Eurizon Capital SGR S.p.A. Invests $1.26 Million in DraftKings Inc. $DKNG

Eurizon Capital SGR S.p.A. purchased a new position in shares of DraftKings Inc. (NASDAQ:DKNG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 36,694 shares of the company’s stock, valued at approximately $1,264,000.

Several other large investors also recently modified their holdings of DKNG. Integrated Wealth Concepts LLC increased its stake in shares of DraftKings by 5.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 9,460 shares of the company’s stock worth $314,000 after purchasing an additional 524 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of DraftKings by 1,141.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,044 shares of the company’s stock worth $1,463,000 after purchasing an additional 40,495 shares during the last quarter. Empowered Funds LLC increased its stake in shares of DraftKings by 18.0% during the 1st quarter. Empowered Funds LLC now owns 9,115 shares of the company’s stock worth $303,000 after purchasing an additional 1,391 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in DraftKings in the 2nd quarter valued at approximately $603,000. Finally, Daiwa Securities Group Inc. grew its stake in DraftKings by 2.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 44,102 shares of the company’s stock valued at $1,892,000 after buying an additional 968 shares in the last quarter. Hedge funds and other institutional investors own 37.70% of the company’s stock.

DraftKings Stock Down 3.9%

Shares of NASDAQ:DKNG opened at $25.30 on Wednesday. The firm has a fifty day moving average price of $23.64 and a two-hundred day moving average price of $27.73. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.02 and a quick ratio of 1.02. DraftKings Inc. has a one year low of $20.46 and a one year high of $48.78. The company has a market cap of $12.55 billion, a price-to-earnings ratio of 421.67 and a beta of 1.66.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.02). DraftKings had a net margin of 0.93% and a return on equity of 13.51%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the business earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. Analysts anticipate that DraftKings Inc. will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling at DraftKings

In other DraftKings news, Director Jocelyn Moore sold 2,150 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $25.60, for a total value of $55,040.00. Following the completion of the transaction, the director directly owned 1,406 shares of the company’s stock, valued at $35,993.60. This trade represents a 60.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Woodrow Levin sold 34,234 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $25.71, for a total transaction of $880,156.14. Following the completion of the transaction, the director directly owned 29,820 shares of the company’s stock, valued at approximately $766,672.20. The trade was a 53.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 521,663 shares of company stock valued at $13,144,962 in the last three months. Company insiders own 47.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered shares of DraftKings from a “hold” rating to a “hold” rating in a research note on Friday, April 24th. Morgan Stanley reiterated an “overweight” rating on shares of DraftKings in a research note on Thursday, May 21st. The Goldman Sachs Group reduced their price objective on shares of DraftKings from $54.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. Stifel Nicolaus reduced their price objective on shares of DraftKings from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. Finally, Susquehanna reduced their price objective on shares of DraftKings from $33.00 to $32.00 and set a “positive” rating for the company in a research note on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $34.15.

DraftKings Company Profile

DraftKings Inc is a leading digital sports entertainment and gaming company specializing in daily fantasy sports, sports betting and iGaming products. The company provides an integrated platform where users can participate in daily fantasy contests, place wagers on professional sports events, and enjoy a range of online casino-style games. DraftKings’ proprietary technology supports real-time odds, live scoring and advanced analytics to enhance the user experience across mobile and desktop applications.

Founded in 2012 by co-founders Jason Robins, Matthew Kalish and Paul Liberman, DraftKings began as a daily fantasy sports provider and rapidly expanded into regulated sports betting following legislative changes in the United States.