Silverleafe Capital Partners LLC Buys Shares of 23,355 DraftKings Inc. (NASDAQ:DKNG)

Silverleafe Capital Partners LLC bought a new stake in DraftKings Inc. (NASDAQ:DKNG) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,355 shares of the company’s stock, valued at approximately $1,061,000.

Several other hedge funds have also recently added to or reduced their stakes in DKNG. Highlander Capital Management LLC increased its holdings in shares of DraftKings by 180.0% in the fourth quarter. Highlander Capital Management LLC now owns 700 shares of the company’s stock worth $25,000 after acquiring an additional 450 shares in the last quarter. Transcendent Capital Group LLC bought a new position in shares of DraftKings during the fourth quarter worth about $26,000. Montag A & Associates Inc. bought a new position in shares of DraftKings during the fourth quarter worth about $29,000. FSC Wealth Advisors LLC bought a new position in shares of DraftKings during the fourth quarter worth about $37,000. Finally, Householder Group Estate & Retirement Specialist LLC grew its holdings in shares of DraftKings by 154.2% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 1,215 shares of the company’s stock worth $42,000 after buying an additional 737 shares in the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DKNG. BTIG Research raised their price target on DraftKings from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Jefferies Financial Group raised their price target on DraftKings from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, May 6th. BMO Capital Markets raised their price target on DraftKings from $51.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Mizuho initiated coverage on DraftKings in a research report on Tuesday, March 26th. They issued a “buy” rating and a $58.00 price objective for the company. Finally, Benchmark raised their price objective on DraftKings from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $49.24.

Insider Activity

In other news, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $40.91, for a total value of $8,182,000.00. Following the transaction, the insider now owns 3,043,231 shares in the company, valued at approximately $124,498,580.21. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Harry Sloan sold 250,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $38.15, for a total transaction of $9,537,500.00. Following the sale, the director now owns 250,000 shares in the company, valued at approximately $9,537,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $40.91, for a total value of $8,182,000.00. Following the sale, the insider now owns 3,043,231 shares in the company, valued at approximately $124,498,580.21. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,520,340 shares of company stock worth $60,996,583. Insiders own 51.19% of the company’s stock.

DraftKings Stock Performance

DraftKings stock opened at $38.17 on Friday. DraftKings Inc. has a one year low of $24.97 and a one year high of $49.57. The stock’s fifty day moving average price is $40.72 and its two-hundred day moving average price is $40.54. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.34 and a current ratio of 1.34.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.02). DraftKings had a negative net margin of 13.45% and a negative return on equity of 62.74%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the business posted ($0.87) EPS. The company’s revenue for the quarter was up 52.7% on a year-over-year basis. Analysts anticipate that DraftKings Inc. will post -0.24 EPS for the current year.

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.