Scholtz & Company LLC Has $3.01 Million Holdings in DraftKings Inc. $DKNG

by · The Markets Daily

Scholtz & Company LLC reduced its position in DraftKings Inc. (NASDAQ:DKNG – Free Report) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,277 shares of the company’s stock after selling 779 shares during the period. DraftKings comprises about 1.3% of Scholtz & Company LLC’s holdings, making the stock its 27th largest position. Scholtz & Company LLC’s holdings in DraftKings were worth $3,014,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of DKNG. GAMMA Investing LLC increased its position in DraftKings by 57.1% in the 1st quarter. GAMMA Investing LLC now owns 1,474 shares of the company’s stock worth $49,000 after purchasing an additional 536 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in DraftKings by 22.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,559 shares of the company’s stock worth $1,855,000 after purchasing an additional 9,706 shares during the last quarter. KBC Group NV increased its position in DraftKings by 18.1% in the 1st quarter. KBC Group NV now owns 35,163 shares of the company’s stock worth $1,167,000 after purchasing an additional 5,390 shares during the last quarter. Amalgamated Bank increased its position in DraftKings by 9.1% in the 1st quarter. Amalgamated Bank now owns 32,632 shares of the company’s stock worth $1,084,000 after purchasing an additional 2,721 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its position in DraftKings by 45.9% in the 1st quarter. Vontobel Holding Ltd. now owns 120,758 shares of the company’s stock worth $4,010,000 after purchasing an additional 38,014 shares during the last quarter. 37.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Alan Wayne Ellingson sold 44,693 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $44.90, for a total transaction of $2,006,715.70. Following the completion of the sale, the chief financial officer owned 128,131 shares in the company, valued at $5,753,081.90. This represents a 25.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider R Stanton Dodge sold 52,777 shares of the stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $34.57, for a total value of $1,824,500.89. Following the sale, the insider owned 500,000 shares of the company’s stock, valued at approximately $17,285,000. The trade was a 9.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 605,554 shares of company stock worth $26,515,100 over the last 90 days. Company insiders own 51.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on DKNG shares. Citigroup reaffirmed a “neutral” rating on shares of DraftKings in a research report on Wednesday, October 1st. JMP Securities dropped their target price on DraftKings from $54.00 to $51.00 and set a “market outperform” rating on the stock in a research report on Wednesday, October 1st. Mizuho decreased their price target on DraftKings from $58.00 to $54.00 and set an “outperform” rating for the company in a research note on Tuesday, October 7th. Northland Capmk downgraded DraftKings from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, October 1st. Finally, BTIG Research decreased their price target on DraftKings from $53.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, October 2nd. Twenty-seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $52.79.

View Our Latest Research Report on DKNG

DraftKings Trading Down 1.7%

Shares of NASDAQ:DKNG opened at $30.14 on Friday. The company has a market cap of $14.96 billion, a P/E ratio of -46.37, a P/E/G ratio of 0.96 and a beta of 1.99. The stock’s 50-day moving average is $40.07 and its 200-day moving average is $39.57. DraftKings Inc. has a 52-week low of $29.64 and a 52-week high of $53.61. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.34 and a current ratio of 1.34.

DraftKings (NASDAQ:DKNG – Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.14. DraftKings had a negative return on equity of 30.06% and a negative net margin of 5.63%.The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the company earned $0.12 EPS. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year. DraftKings has set its FY 2025 guidance at EPS. Equities research analysts predict that DraftKings Inc. will post 0.64 earnings per share for the current year.

DraftKings Company Profile

(Free Report)

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.

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