Venture Visionary Partners LLC Has $4.33 Million Stock Holdings in DraftKings Inc. (NASDAQ:DKNG)

Venture Visionary Partners LLC increased its stake in DraftKings Inc. (NASDAQ:DKNG) by 159.1% during the third quarter, Holdings Channel.com reports. The fund owned 110,330 shares of the company’s stock after buying an additional 67,740 shares during the period. Venture Visionary Partners LLC’s holdings in DraftKings were worth $4,325,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. LRI Investments LLC bought a new position in DraftKings during the 1st quarter worth approximately $31,000. Concord Wealth Partners increased its position in shares of DraftKings by 140.2% during the first quarter. Concord Wealth Partners now owns 776 shares of the company’s stock worth $35,000 after buying an additional 453 shares during the period. Alta Advisers Ltd bought a new position in DraftKings during the second quarter worth $38,000. Redwood Wealth Management Group LLC acquired a new position in DraftKings in the second quarter valued at $39,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in DraftKings by 117.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the company’s stock valued at $42,000 after buying an additional 498 shares during the period. 37.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DKNG shares. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price objective on shares of DraftKings in a research report on Monday, September 23rd. Guggenheim lowered their target price on DraftKings from $53.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Bank of America cut their price target on DraftKings from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Susquehanna lifted their price objective on shares of DraftKings from $48.00 to $50.00 and gave the company a “positive” rating in a research note on Monday, October 7th. Finally, Wells Fargo & Company increased their target price on shares of DraftKings from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $50.19.

DraftKings Stock Down 3.4 %

DKNG stock traded down $1.30 during trading on Monday, reaching $37.16. The stock had a trading volume of 11,841,542 shares, compared to its average volume of 10,397,972. DraftKings Inc. has a one year low of $25.73 and a one year high of $49.57. The company’s 50 day moving average is $36.78 and its two-hundred day moving average is $38.60. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $32.30 billion, a price-to-earnings ratio of -31.19 and a beta of 1.81.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.13. DraftKings had a negative return on equity of 43.11% and a negative net margin of 9.45%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the business posted ($0.17) earnings per share. DraftKings’s revenue was up 26.2% on a year-over-year basis. Equities research analysts forecast that DraftKings Inc. will post -0.31 EPS for the current year.

Insider Transactions at DraftKings

In related news, insider Paul Liberman sold 643,654 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $41.24, for a total transaction of $26,544,290.96. Following the completion of the sale, the insider now owns 137,308 shares in the company, valued at approximately $5,662,581.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other DraftKings news, insider Jason Robins sold 200,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $35.25, for a total transaction of $7,050,000.00. Following the completion of the transaction, the insider now owns 2,678,082 shares in the company, valued at $94,402,390.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Liberman sold 643,654 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $41.24, for a total transaction of $26,544,290.96. Following the sale, the insider now owns 137,308 shares in the company, valued at $5,662,581.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,132,095 shares of company stock worth $42,890,328 in the last ninety days. Company insiders own 51.19% of the company’s stock.

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.