27,500 Shares in DraftKings Inc. $DKNG Purchased by Brooklands Fund Management Ltd

Brooklands Fund Management Ltd acquired a new position in shares of DraftKings Inc. (NASDAQ:DKNG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 27,500 shares of the company’s stock, valued at approximately $948,000. DraftKings comprises about 0.1% of Brooklands Fund Management Ltd’s investment portfolio, making the stock its 24th largest holding.

Several other large investors have also made changes to their positions in the business. Capital Financial Group Inc. Co. ADV acquired a new position in shares of DraftKings during the 4th quarter worth about $493,000. Silvant Capital Management LLC lifted its position in shares of DraftKings by 1.2% during the 4th quarter. Silvant Capital Management LLC now owns 150,079 shares of the company’s stock worth $5,172,000 after purchasing an additional 1,833 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of DraftKings by 2.3% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 43,885 shares of the company’s stock worth $1,512,000 after purchasing an additional 989 shares during the last quarter. MML Investors Services LLC raised its holdings in DraftKings by 35.0% in the 4th quarter. MML Investors Services LLC now owns 354,069 shares of the company’s stock valued at $12,201,000 after acquiring an additional 91,744 shares in the last quarter. Finally, Mariner LLC raised its holdings in DraftKings by 21.0% in the 4th quarter. Mariner LLC now owns 443,373 shares of the company’s stock valued at $15,287,000 after acquiring an additional 76,851 shares in the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

Insider Buying and Selling

In other news, Director Woodrow Levin sold 34,234 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $25.71, for a total value 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. This represents a 53.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider R Stanton Dodge sold 62,500 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $29.68, for a total value of $1,855,000.00. Following the completion of the transaction, the insider directly owned 556,258 shares of the company’s stock, valued at approximately $16,509,737.44. The trade was a 10.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 97,596 shares of company stock valued at $2,756,991. 47.18% of the stock is currently owned by insiders.

DraftKings Price Performance

Shares of DKNG stock opened at $28.79 on Tuesday. DraftKings Inc. has a 12 month low of $20.46 and a 12 month high of $48.78. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.03. The stock has a 50 day moving average of $24.58 and a two-hundred day moving average of $27.53. The company has a market capitalization of $14.28 billion, a P/E ratio of 479.83 and a beta of 1.66.

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

Analysts Set New Price Targets

A number of analysts have commented on the company. BNP Paribas Exane assumed coverage on DraftKings in a research report on Thursday, May 14th. They issued an “underperform” rating and a $20.00 price objective for the company. Wells Fargo & Company reiterated an “overweight” rating and issued a $32.00 price objective on shares of DraftKings in a research report on Sunday, May 10th. Citizens Jmp reduced their price objective on DraftKings from $38.00 to $34.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 1st. Benchmark reiterated a “buy” rating on shares of DraftKings in a research report on Monday, June 1st. Finally, Mizuho raised their price objective on DraftKings from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, DraftKings presently has a consensus rating of “Moderate Buy” and an average price target of $34.21.

About DraftKings

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.