BI Asset Management Fondsmaeglerselskab A S Has $928,000 Stock Position in DraftKings Inc. (NASDAQ:DKNG)

BI Asset Management Fondsmaeglerselskab A S increased its stake in DraftKings Inc. (NASDAQ:DKNG) by 773.6% during the first quarter, Holdings Channel.com reports. The fund owned 20,433 shares of the company’s stock after buying an additional 18,094 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in DraftKings were worth $928,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Highlander Capital Management LLC lifted its holdings in shares of DraftKings by 180.0% in the 4th quarter. Highlander Capital Management LLC now owns 700 shares of the company’s stock worth $25,000 after purchasing an additional 450 shares in the last quarter. LifeSteps Financial Inc. purchased a new stake in shares of DraftKings during the 1st quarter valued at $33,000. Transcendent Capital Group LLC purchased a new stake in DraftKings in the 4th quarter worth about $26,000. Concord Wealth Partners increased its holdings in DraftKings by 140.2% in the 1st quarter. Concord Wealth Partners now owns 776 shares of the company’s stock worth $35,000 after acquiring an additional 453 shares during the last quarter. Finally, Montag A & Associates Inc. bought a new position in DraftKings in the 4th quarter worth about $29,000. 37.70% of the stock is currently owned by institutional investors.

DraftKings Stock Down 1.3 %

DraftKings stock traded down $0.46 during mid-day trading on Wednesday, hitting $36.28. The company had a trading volume of 2,168,958 shares, compared to its average volume of 11,178,236. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.51. The stock’s 50 day moving average price is $40.05 and its two-hundred day moving average price is $40.70. DraftKings Inc. has a 12 month low of $25.41 and a 12 month high of $49.57. The company has a market capitalization of $31.54 billion, a PE ratio of -31.14 and a beta of 1.81.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.02). The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.12 billion. DraftKings had a negative net margin of 13.45% and a negative return on equity of 62.74%. The company’s revenue for the quarter was up 52.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.87) earnings per share. As a group, sell-side analysts anticipate that DraftKings Inc. will post -0.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on DKNG shares. The Goldman Sachs Group assumed coverage on DraftKings in a research note on Tuesday, April 16th. They issued a “buy” rating and a $60.00 target price for the company. JMP Securities restated a “market outperform” rating and issued a $52.00 target price on shares of DraftKings in a research report on Monday, March 25th. Benchmark lifted their price target on DraftKings from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on DraftKings from $34.00 to $35.00 and gave the stock a “hold” rating in a research note on Monday, May 6th. Finally, BMO Capital Markets lifted their price target on DraftKings from $51.00 to $54.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.17.

Insider Activity

In other news, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $40.91, for a total transaction of $8,182,000.00. Following the transaction, the insider now directly owns 3,043,231 shares of the company’s stock, valued at $124,498,580.21. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $40.91, for a total transaction of $8,182,000.00. Following the completion of the sale, the insider now owns 3,043,231 shares in the company, valued at $124,498,580.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Liberman sold 668,890 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $38.83, for a total value of $25,972,998.70. Following the sale, the insider now owns 205,962 shares of the company’s stock, valued at approximately $7,997,504.46. The disclosure for this sale can be found here. Insiders have sold a total of 1,520,340 shares of company stock valued at $60,996,583 over the last ninety days. 48.94% of the stock is currently owned by corporate insiders.

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.