Leonteq Securities AG Acquires Shares of 28,395 DraftKings Inc. $DKNG

Leonteq Securities AG acquired a new stake in DraftKings Inc. (NASDAQ:DKNG) during the fourth quarter, Holdings Channel.com reports. The fund acquired 28,395 shares of the company’s stock, valued at approximately $978,000.

A number of other large investors have also recently made changes to their positions in the business. IHT Wealth Management LLC lifted its stake in shares of DraftKings by 4.1% in the second quarter. IHT Wealth Management LLC now owns 6,271 shares of the company’s stock valued at $269,000 after buying an additional 248 shares in the last quarter. Orion Porfolio Solutions LLC lifted its stake in shares of DraftKings by 3.1% in the third quarter. Orion Porfolio Solutions LLC now owns 10,608 shares of the company’s stock valued at $397,000 after buying an additional 321 shares in the last quarter. Ameriflex Group Inc. lifted its stake in shares of DraftKings by 100.0% in the third quarter. Ameriflex Group Inc. now owns 810 shares of the company’s stock valued at $30,000 after buying an additional 405 shares in the last quarter. Centaurus Financial Inc. lifted its stake in shares of DraftKings by 4.1% in the third quarter. Centaurus Financial Inc. now owns 10,511 shares of the company’s stock valued at $393,000 after buying an additional 410 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of DraftKings by 18.5% in the third quarter. Bessemer Group Inc. now owns 2,662 shares of the company’s stock valued at $99,000 after buying an additional 416 shares in the last quarter. 37.70% of the stock is owned by institutional investors.

Insider Activity at DraftKings

In related news, Director Woodrow Levin sold 34,234 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $25.71, for a total transaction of $880,156.14. Following the completion of the sale, the director owned 29,820 shares in the company, valued at approximately $766,672.20. This trade represents a 53.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul Liberman sold 484,417 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $25.16, for a total transaction of $12,187,931.72. Following the sale, the insider owned 213,597 shares of the company’s stock, valued at $5,374,100.52. This trade represents a 69.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 523,684 shares of company stock worth $13,193,934. 47.18% of the stock is currently owned by corporate insiders.

DraftKings Stock Performance

Shares of DKNG stock opened at $25.40 on Friday. The firm has a 50-day moving average of $23.69 and a 200-day moving average of $27.96. The company has a market cap of $12.60 billion, a P/E ratio of 423.33 and a beta of 1.67. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.02 and a quick ratio of 1.02. DraftKings Inc. has a one year low of $20.46 and a one year high of $48.78.

DraftKings (NASDAQ:DKNG) last announced its earnings results on Friday, May 8th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.02). The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. DraftKings had a net margin of 0.93% and a return on equity of 13.51%. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.07) EPS. Equities research analysts forecast that DraftKings Inc. will post 0.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DKNG. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $32.00 price objective on shares of DraftKings in a research note on Sunday, May 10th. Argus downgraded shares of DraftKings from a “buy” rating to a “hold” rating in a report on Tuesday, March 17th. Barclays increased their target price on shares of DraftKings from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $30.00 target price on shares of DraftKings in a report on Thursday, March 5th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of DraftKings in a report on Thursday. Twenty-seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.32.

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.