CHICAGO TRUST Co NA Makes New Investment in DraftKings Inc. (NASDAQ:DKNG)

CHICAGO TRUST Co NA bought a new position in shares of DraftKings Inc. (NASDAQ:DKNG) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 7,350 shares of the company’s stock, valued at approximately $288,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Retirement Planning Group LLC bought a new position in DraftKings during the 3rd quarter worth about $686,000. Avondale Wealth Management boosted its holdings in shares of DraftKings by 1.2% in the 3rd quarter. Avondale Wealth Management now owns 64,400 shares of the company’s stock valued at $2,524,000 after buying an additional 750 shares in the last quarter. Future Financial Wealth Managment LLC boosted its holdings in shares of DraftKings by 8.9% in the 3rd quarter. Future Financial Wealth Managment LLC now owns 13,394 shares of the company’s stock valued at $525,000 after buying an additional 1,100 shares in the last quarter. Udine Wealth Management Inc. boosted its holdings in shares of DraftKings by 4.1% in the 3rd quarter. Udine Wealth Management Inc. now owns 52,548 shares of the company’s stock valued at $2,060,000 after buying an additional 2,073 shares in the last quarter. Finally, Atwood & Palmer Inc. boosted its holdings in shares of DraftKings by 4.0% in the 3rd quarter. Atwood & Palmer Inc. now owns 515,075 shares of the company’s stock valued at $20,191,000 after buying an additional 19,887 shares in the last quarter. 37.70% of the stock is currently owned by institutional investors.

DraftKings Price Performance

NASDAQ:DKNG opened at $38.44 on Monday. DraftKings Inc. has a 52 week low of $25.73 and a 52 week high of $49.57. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $33.41 billion, a PE ratio of -32.58 and a beta of 1.81. The stock’s 50-day moving average price is $36.08 and its 200-day moving average price is $38.85.

DraftKings (NASDAQ:DKNG) last posted its earnings results on Thursday, August 1st. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.13. DraftKings had a negative return on equity of 43.11% and a negative net margin of 9.45%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the firm earned ($0.17) EPS. The company’s quarterly revenue was up 26.2% on a year-over-year basis. As a group, equities analysts expect that DraftKings Inc. will post -0.31 EPS for the current fiscal year.

Insider Activity

In related news, insider Paul Liberman sold 643,654 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $41.24, for a total value of $26,544,290.96. Following the transaction, the insider now directly owns 137,308 shares of the company’s stock, valued at approximately $5,662,581.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $35.25, for a total value of $7,050,000.00. Following the transaction, the insider now directly owns 2,678,082 shares of the company’s stock, valued at approximately $94,402,390.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Liberman sold 643,654 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $41.24, for a total transaction of $26,544,290.96. Following the completion of the transaction, the insider now directly owns 137,308 shares in the company, valued at $5,662,581.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,132,095 shares of company stock worth $42,890,328 in the last ninety days. Company insiders own 51.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $60.00 price target on shares of DraftKings in a report on Monday, September 23rd. UBS Group raised their price target on shares of DraftKings from $56.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Oppenheimer lowered their price target on shares of DraftKings from $58.00 to $55.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Stifel Nicolaus reissued a “buy” rating and set a $48.00 target price (down previously from $50.00) on shares of DraftKings in a research report on Monday, August 5th. Finally, Bank of America dropped their target price on shares of DraftKings from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.89.

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.