B. Metzler seel. Sohn & Co. Holding AG Takes Position in DraftKings Inc. (NASDAQ:DKNG)

B. Metzler seel. Sohn & Co. Holding AG bought a new position in DraftKings Inc. (NASDAQ:DKNG) during the third quarter, HoldingsChannel reports. The fund bought 8,915 shares of the company’s stock, valued at approximately $349,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. LRI Investments LLC bought a new position in shares of DraftKings during the 1st quarter valued at approximately $31,000. Alta Advisers Ltd bought a new position in shares of DraftKings in the second quarter worth approximately $38,000. Redwood Wealth Management Group LLC bought a new position in shares of DraftKings in the second quarter worth approximately $39,000. V Square Quantitative Management LLC bought a new stake in shares of DraftKings during the 3rd quarter valued at $46,000. Finally, Creative Financial Designs Inc. ADV raised its position in shares of DraftKings by 36.8% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock valued at $47,000 after purchasing an additional 320 shares during the period. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

DraftKings Stock Down 1.1 %

Shares of NASDAQ DKNG opened at $43.09 on Monday. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $49.57. The firm has a 50-day simple moving average of $38.92 and a two-hundred day simple moving average of $37.89. The company has a market cap of $37.95 billion, a P/E ratio of -48.97 and a beta of 1.82. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.18). The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.12 billion. DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. Research analysts anticipate that DraftKings Inc. will post -0.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on DKNG shares. The Goldman Sachs Group cut their price target on DraftKings from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Barclays increased their target price on DraftKings from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Susquehanna boosted their price target on DraftKings from $48.00 to $50.00 and gave the stock a “positive” rating in a report on Monday, October 7th. Benchmark reaffirmed a “buy” rating and set a $44.00 price objective on shares of DraftKings in a report on Monday, October 7th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $48.00 target price on shares of DraftKings in a report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $50.85.

Insider Transactions at DraftKings

In related news, insider Paul Liberman sold 88,441 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 1,923,483 shares in the company, valued at approximately $70,034,016.03. The trade was a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Robins sold 3,151 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $43.71, for a total value of $137,730.21. Following the transaction, the insider now owns 2,631,033 shares in the company, valued at $115,002,452.43. The trade was a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 735,246 shares of company stock worth $29,902,158. Insiders own 51.19% of the company’s stock.

DraftKings Company 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.