Nomura Asset Management Co. Ltd. Has $4.90 Million Position in DraftKings Inc. (NASDAQ:DKNG)

Nomura Asset Management Co. Ltd. grew its position in DraftKings Inc. (NASDAQ:DKNG) by 7.7% during the 3rd quarter, Holdings Channel reports. The firm owned 124,989 shares of the company’s stock after purchasing an additional 8,901 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in DraftKings were worth $4,900,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its stake in DraftKings by 24.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 32,975 shares of the company’s stock worth $1,259,000 after buying an additional 6,425 shares during the last quarter. Miracle Mile Advisors LLC increased its holdings in DraftKings by 10.2% during the 2nd quarter. Miracle Mile Advisors LLC now owns 8,284 shares of the company’s stock valued at $316,000 after purchasing an additional 770 shares in the last quarter. Blue Trust Inc. raised its position in DraftKings by 2,465.0% in the 2nd quarter. Blue Trust Inc. now owns 5,207 shares of the company’s stock valued at $199,000 after purchasing an additional 5,004 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in DraftKings by 1.6% in the second quarter. Nisa Investment Advisors LLC now owns 71,906 shares of the company’s stock worth $2,745,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in DraftKings by 4.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 358,118 shares of the company’s stock worth $13,669,000 after purchasing an additional 14,023 shares in the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on DKNG. Susquehanna lifted their price target on DraftKings from $48.00 to $50.00 and gave the company a “positive” rating in a report on Monday, October 7th. Barclays raised their price objective on shares of DraftKings from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of DraftKings in a research report on Friday, November 8th. JMP Securities raised their price target on shares of DraftKings from $51.00 to $52.00 and gave the company a “market outperform” rating in a report on Monday, November 11th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $48.00 price objective on shares of DraftKings in a research report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

Insider Activity at DraftKings

In other DraftKings news, insider Paul Liberman sold 643,654 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $41.24, for a total value of $26,544,290.96. Following the transaction, the insider now directly owns 137,308 shares of the company’s stock, valued at $5,662,581.92. This represents a 82.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jason Robins sold 3,151 shares of the 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 transaction, the insider now owns 2,631,033 shares in the company, valued at $115,002,452.43. The trade was a 0.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 963,742 shares of company stock worth $39,668,077. Insiders own 51.19% of the company’s stock.

DraftKings Trading Down 3.8 %

Shares of DraftKings stock opened at $39.88 on Friday. The stock has a market cap of $35.12 billion, a P/E ratio of -45.32 and a beta of 1.87. DraftKings Inc. has a 12-month low of $28.69 and a 12-month high of $49.57. The business’s 50 day moving average is $40.07 and its 200-day moving average is $37.94. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.18). The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. Equities research analysts predict that DraftKings Inc. will post -0.79 earnings per share for the current fiscal 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.