Janus Henderson Group PLC Raises Stock Position in DraftKings Inc. $DKNG

Janus Henderson Group PLC increased its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 50.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,313,909 shares of the company’s stock after buying an additional 8,524,923 shares during the period. Janus Henderson Group PLC owned about 5.09% of DraftKings worth $858,893,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Eminence Capital LP boosted its holdings in shares of DraftKings by 34.3% in the 4th quarter. Eminence Capital LP now owns 8,426,755 shares of the company’s stock valued at $290,386,000 after buying an additional 2,151,892 shares in the last quarter. Evolve Private Wealth LLC purchased a new position in DraftKings during the 4th quarter worth $1,054,000. CastleKnight Management LP raised its position in DraftKings by 17.7% during the 4th quarter. CastleKnight Management LP now owns 155,000 shares of the company’s stock worth $5,341,000 after buying an additional 23,300 shares during the last quarter. Cinctive Capital Management LP increased its holdings in shares of DraftKings by 15.5% in the 4th quarter. Cinctive Capital Management LP now owns 35,417 shares of the company’s stock valued at $1,220,000 after purchasing an additional 4,754 shares in the last quarter. Finally, Bamco Inc. NY increased its holdings in shares of DraftKings by 13.8% in the 4th quarter. Bamco Inc. NY now owns 4,674,455 shares of the company’s stock valued at $161,082,000 after purchasing an additional 568,487 shares in the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

DraftKings Price Performance

Shares of NASDAQ:DKNG opened at $26.32 on Thursday. The stock has a fifty day moving average of $24.76 and a 200-day moving average of $27.47. The company has a market capitalization of $13.06 billion, a PE ratio of 438.67 and a beta of 1.66. DraftKings Inc. has a one year low of $20.46 and a one year high of $48.78. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.02 and a current ratio of 1.02.

DraftKings (NASDAQ:DKNG) last released its earnings results on Friday, May 8th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.02). DraftKings had a return on equity of 13.51% and a net margin of 0.93%.The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the business earned ($0.07) earnings per share. The business’s revenue was up 16.8% on a year-over-year basis. As a group, equities analysts anticipate that DraftKings Inc. will post 0.6 EPS for the current fiscal year.

Analyst Ratings Changes

DKNG has been the topic of a number of research reports. UBS Group increased their price objective on shares of DraftKings from $43.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Deutsche Bank Aktiengesellschaft cut shares of DraftKings from a “hold” rating to a “hold” rating in a research note on Friday, April 24th. Truist Financial decreased their target price on shares of DraftKings from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. BNP Paribas Exane began coverage on shares of DraftKings in a report on Thursday, May 14th. They issued an “underperform” rating and a $20.00 price target on the stock. Finally, Scotiabank raised shares of DraftKings to an “outperform” rating in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.21.

Insider Activity at DraftKings

In related news, insider R Stanton Dodge sold 62,500 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $29.68, for a total value of $1,855,000.00. Following the completion of the sale, the insider owned 556,258 shares of the company’s stock, valued at approximately $16,509,737.44. The trade was a 10.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Woodrow Levin sold 34,234 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $25.71, for a total value of $880,156.14. Following the completion of the sale, the director owned 29,820 shares of the company’s stock, valued at approximately $766,672.20. This trade represents a 53.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 97,596 shares of company stock valued at $2,756,991. 47.18% of the stock is currently owned by company insiders.

DraftKings Company Profile

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.