30,392 Shares in DraftKings Inc. (NASDAQ:DKNG) Acquired by Oddo BHF Asset Management Sas

Oddo BHF Asset Management Sas purchased a new stake in DraftKings Inc. (NASDAQ:DKNG) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 30,392 shares of the company’s stock, valued at approximately $1,191,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Alta Advisers Ltd purchased a new position in DraftKings in the 2nd quarter valued at approximately $38,000. Redwood Wealth Management Group LLC purchased a new position in DraftKings in the second quarter valued at approximately $39,000. Delos Wealth Advisors LLC purchased a new stake in DraftKings in the third quarter valued at $43,000. V Square Quantitative Management LLC purchased a new stake in DraftKings during the 3rd quarter valued at approximately $46,000. Finally, Creative Financial Designs Inc. ADV lifted 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 acquiring an additional 320 shares during the period. Institutional investors and hedge funds own 37.70% of the company’s stock.

DraftKings Price Performance

DKNG stock opened at $39.88 on Friday. The stock has a market cap of $35.12 billion, a price-to-earnings ratio of -45.32 and a beta of 1.87. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. The company has a 50 day simple moving average of $40.07 and a 200 day simple moving average of $37.94. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $49.57.

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

Insiders Place Their Bets

In other DraftKings news, insider R Stanton Dodge sold 228,496 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $42.74, for a total transaction of $9,765,919.04. Following the completion of the sale, the insider now owns 541,884 shares of the company’s stock, valued at approximately $23,160,122.16. This represents a 29.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $3,220,136.81. Following the completion of the transaction, the insider now owns 1,923,483 shares in the company, valued at $70,034,016.03. This trade represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 963,742 shares of company stock valued at $39,668,077 in the last ninety days. 51.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the company. UBS Group raised their price objective on DraftKings from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Needham & Company LLC reissued a “buy” rating and set a $60.00 target price on shares of DraftKings in a research report on Friday, November 8th. TD Cowen increased their price objective on shares of DraftKings from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. BMO Capital Markets restated an “outperform” rating and issued a $48.00 target price on shares of DraftKings in a research note on Wednesday, October 16th. Finally, Mizuho upped their price target on DraftKings from $54.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, DraftKings presently has an average rating of “Moderate Buy” and a consensus target price of $51.00.

About DraftKings

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.