Kestra Private Wealth Services LLC Increases Stock Holdings in DraftKings Inc. (NASDAQ:DKNG)

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Kestra Private Wealth Services LLC boosted its position in DraftKings Inc. (NASDAQ:DKNGGet Rating) by 23.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 21,808 shares of the company’s stock after buying an additional 4,145 shares during the period. Kestra Private Wealth Services LLC’s holdings in DraftKings were worth $425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Tompkins Financial Corp purchased a new stake in shares of DraftKings in the first quarter valued at about $27,000. KRS Capital Management LLC acquired a new position in DraftKings during the 4th quarter worth approximately $35,000. Cornerstone Advisory LLC acquired a new stake in shares of DraftKings in the 4th quarter valued at approximately $39,000. Lenox Wealth Advisors LLC boosted its stake in shares of DraftKings by 21,316.7% in the first quarter. Lenox Wealth Advisors LLC now owns 2,570 shares of the company’s stock valued at $42,000 after buying an additional 2,558 shares in the last quarter. Finally, Joseph P. Lucia & Associates LLC acquired a new position in DraftKings during the first quarter worth $43,000. 29.18% of the stock is owned by institutional investors and hedge funds.

DraftKings Price Performance

Shares of DraftKings stock opened at $18.67 on Tuesday. The business’s fifty day moving average price is $16.35 and its 200 day moving average price is $15.44. DraftKings Inc. has a twelve month low of $9.77 and a twelve month high of $58.94. The company has a current ratio of 2.96, a quick ratio of 2.96 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $15.71 billion, a P/E ratio of -4.93 and a beta of 1.92.

Analyst Upgrades and Downgrades

DKNG has been the topic of several research analyst reports. Susquehanna Bancshares upped their price target on shares of DraftKings from $20.00 to $24.00 and gave the stock a “positive” rating in a research note on Tuesday, September 6th. Roth Capital raised shares of DraftKings from a “neutral” rating to a “buy” rating and increased their target price for the company from $18.00 to $25.00 in a report on Wednesday, August 17th. Citigroup lowered their price target on DraftKings from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, July 7th. Morgan Stanley decreased their target price on DraftKings from $31.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, August 8th. Finally, Guggenheim cut their price target on DraftKings to $31.00 in a research note on Wednesday, September 14th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.71.

DraftKings Company Profile

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DraftKings Inc operates a digital sports entertainment and gaming company. It offers multi-channel sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. The company operates iGaming through its DraftKings brand in 5 states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand in 3 states.

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Want to see what other hedge funds are holding DKNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DraftKings Inc. (NASDAQ:DKNGGet Rating).

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