Public Employees Retirement System of Ohio Sells 5,005 Shares of DraftKings Inc. (NASDAQ:DKNG)

Public Employees Retirement System of Ohio cut its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 3.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 164,453 shares of the company’s stock after selling 5,005 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in DraftKings were worth $6,447,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Global Retirement Partners LLC grew its position in shares of DraftKings by 0.6% during the third quarter. Global Retirement Partners LLC now owns 47,067 shares of the company’s stock worth $1,845,000 after purchasing an additional 273 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in 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 buying an additional 320 shares in the last quarter. HighMark Wealth Management LLC raised its position in shares of DraftKings by 18.3% during the second quarter. HighMark Wealth Management LLC now owns 2,129 shares of the company’s stock valued at $81,000 after buying an additional 329 shares during the last quarter. Jaffetilchin Investment Partners LLC lifted its holdings in shares of DraftKings by 1.5% in the second quarter. Jaffetilchin Investment Partners LLC now owns 23,329 shares of the company’s stock worth $890,000 after buying an additional 340 shares in the last quarter. Finally, Smith Thornton Advisors LLC lifted its holdings in shares of DraftKings by 3.9% in the third quarter. Smith Thornton Advisors LLC now owns 9,552 shares of the company’s stock worth $374,000 after buying an additional 360 shares in the last quarter. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at DraftKings

In other DraftKings news, insider Jason Robins sold 3,151 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $43.71, for a total value of $137,730.21. Following the completion of the sale, the insider now directly owns 2,631,033 shares in the company, valued at approximately $115,002,452.43. This represents a 0.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider R Stanton Dodge sold 228,496 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $42.74, for a total value of $9,765,919.04. Following the transaction, the insider now directly owns 541,884 shares in the company, valued at $23,160,122.16. The trade was a 29.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 963,742 shares of company stock worth $39,668,077. Insiders own 51.19% of the company’s stock.

Analysts Set New Price Targets

DKNG has been the topic of a number of research reports. BMO Capital Markets reiterated an “outperform” rating and issued a $48.00 price target on shares of DraftKings in a report on Wednesday, October 16th. Wells Fargo & Company lifted their target price on DraftKings from $47.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Macquarie boosted their target price on DraftKings from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. UBS Group raised their price target on DraftKings from $56.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of DraftKings in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $51.00.

DraftKings Trading Down 3.8 %

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

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. On average, equities analysts forecast that DraftKings Inc. will post -0.79 EPS for the current year.

DraftKings Profile

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.