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

Public Employees Retirement System of Ohio trimmed its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 3.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor 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.

Other large investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of DraftKings by 24.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 32,975 shares of the company’s stock valued at $1,259,000 after acquiring an additional 6,425 shares during the period. Miracle Mile Advisors LLC boosted its position in DraftKings by 10.2% during the second 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. boosted its position in DraftKings by 2,465.0% during the second 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 in the last quarter. Nisa Investment Advisors LLC grew 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 valued at $2,745,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its holdings 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 own 37.70% of the company’s stock.

DraftKings Price Performance

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

DraftKings (NASDAQ:DKNG) last issued its earnings results on Thursday, November 7th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.18). The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.12 billion. DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. Research analysts expect that DraftKings Inc. will post -0.79 EPS for the current year.

Insiders Place Their Bets

In related news, insider Paul Liberman sold 643,654 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $41.24, for a total value of $26,544,290.96. Following the completion of the transaction, the insider now directly owns 137,308 shares in the company, valued at $5,662,581.92. The trade was a 82.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction of $9,765,919.04. Following the sale, the insider now directly owns 541,884 shares in the company, valued at $23,160,122.16. This trade represents a 29.66 % decrease in their ownership of the stock. 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. Corporate insiders own 51.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DKNG shares. BNP Paribas upgraded shares of DraftKings from an “underperform” rating to a “neutral” rating and set a $35.00 price target on the stock in a report on Tuesday, September 10th. Morgan Stanley lifted their price target on shares of DraftKings from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. UBS Group upped their price target on DraftKings from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. raised their price objective on DraftKings from $47.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Benchmark reaffirmed a “buy” rating and set a $44.00 target price on shares of DraftKings in a research report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

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.