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

Leonteq Securities AG purchased a new stake in DraftKings Inc. (NASDAQ:DKNG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 28,395 shares of the company’s stock, valued at approximately $978,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DKNG. Dagco Inc. bought a new stake in shares of DraftKings in the 4th quarter valued at $26,000. Ameriflex Group Inc. boosted its stake in shares of DraftKings by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 810 shares of the company’s stock valued at $30,000 after purchasing an additional 405 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of DraftKings in the 3rd quarter valued at $33,000. Asset Dedication LLC bought a new stake in shares of DraftKings in the 3rd quarter valued at $37,000. Finally, Montag A & Associates Inc. boosted its stake in shares of DraftKings by 82.5% in the 4th quarter. Montag A & Associates Inc. now owns 1,106 shares of the company’s stock valued at $38,000 after purchasing an additional 500 shares during the last quarter. 37.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at DraftKings

In related news, insider Paul Liberman sold 484,417 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $25.16, for a total transaction of $12,187,931.72. Following the transaction, the insider directly owned 213,597 shares of the company’s stock, valued at $5,374,100.52. This represents a 69.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Erik Bradbury sold 2,883 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $24.56, for a total transaction of $70,806.48. Following the transaction, the chief accounting officer directly owned 38,168 shares in the company, valued at approximately $937,406.08. This represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 523,684 shares of company stock valued at $13,193,934 in the last ninety days. Insiders own 47.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of DraftKings in a research note on Thursday, March 5th. Guggenheim reduced their price objective on shares of DraftKings from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Weiss Ratings lowered shares of DraftKings from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. reduced their price objective on shares of DraftKings from $32.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, April 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 price objective on shares of DraftKings in a research note on Monday, May 11th. Twenty-seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, DraftKings has a consensus rating of “Moderate Buy” and an average target price of $34.32.

DraftKings Stock Up 1.6%

Shares of NASDAQ DKNG opened at $25.40 on Friday. The firm has a market cap of $12.60 billion, a PE ratio of 423.33 and a beta of 1.67. DraftKings Inc. has a 12-month low of $20.46 and a 12-month high of $48.78. The company’s fifty day simple moving average is $23.69 and its 200 day simple moving average is $27.96. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.03.

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

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.