Mount Yale Investment Advisors LLC Invests $476,000 in DraftKings Inc. (NASDAQ:DKNG)

Mount Yale Investment Advisors LLC purchased a new position in DraftKings Inc. (NASDAQ:DKNG) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 10,473 shares of the company’s stock, valued at approximately $476,000.

Several other large investors have also recently made changes to their positions in the stock. Highlander Capital Management LLC grew its stake in DraftKings by 180.0% during the 4th quarter. Highlander Capital Management LLC now owns 700 shares of the company’s stock worth $25,000 after buying an additional 450 shares during the last quarter. LRI Investments LLC purchased a new position in DraftKings during the 1st quarter worth $31,000. LifeSteps Financial Inc. purchased a new stake in DraftKings during the 1st quarter valued at about $33,000. Transcendent Capital Group LLC purchased a new stake in DraftKings during the 4th quarter valued at about $26,000. Finally, Concord Wealth Partners grew its stake in DraftKings by 140.2% during the 1st quarter. Concord Wealth Partners now owns 776 shares of the company’s stock valued at $35,000 after purchasing an additional 453 shares during the last quarter. 37.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

DKNG has been the topic of several research analyst reports. Guggenheim dropped their price target on DraftKings from $53.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. BMO Capital Markets increased their target price on DraftKings from $51.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Susquehanna reduced their target price on DraftKings from $56.00 to $49.00 and set a “positive” rating for the company in a report on Wednesday, June 5th. Jefferies Financial Group increased their target price on DraftKings from $52.00 to $54.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, Berenberg Bank raised DraftKings to a “hold” rating in a report on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.67.

Insider Transactions at DraftKings

In other news, insider Paul Liberman sold 63,206 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $39.00, for a total transaction of $2,465,034.00. Following the completion of the transaction, the insider now directly owns 1,716,406 shares in the company, valued at $66,939,834. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $42.67, for a total value of $8,534,000.00. Following the completion of the transaction, the insider now directly owns 2,849,215 shares in the company, valued at $121,576,004.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul Liberman sold 63,206 shares of DraftKings stock in a transaction on Monday, July 15th. The shares were sold at an average price of $39.00, for a total value of $2,465,034.00. Following the completion of the transaction, the insider now owns 1,716,406 shares of the company’s stock, valued at $66,939,834. The disclosure for this sale can be found here. Insiders sold a total of 1,383,546 shares of company stock worth $55,279,617 over the last ninety days. Company insiders own 51.19% of the company’s stock.

DraftKings Trading Up 1.2 %

DraftKings stock traded up $0.43 during mid-day trading on Monday, hitting $36.73. The company’s stock had a trading volume of 7,029,564 shares, compared to its average volume of 10,838,661. The firm has a market capitalization of $31.93 billion, a PE ratio of -31.00 and a beta of 1.81. DraftKings Inc. has a 1 year low of $25.41 and a 1 year high of $49.57. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.51. The stock’s fifty day moving average is $38.43 and its two-hundred day moving average is $40.97.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.02). The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.12 billion. DraftKings had a negative return on equity of 62.74% and a negative net margin of 13.45%. The company’s revenue was up 52.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.87) earnings per share. On average, analysts anticipate that DraftKings Inc. will post -0.31 EPS for the current year.

DraftKings Company 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.