Anthracite Investment Company Inc. Buys 32,150 Shares of DraftKings Inc. (NASDAQ:DKNG)

Anthracite Investment Company Inc. boosted its position in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 115.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 60,000 shares of the company's stock after purchasing an additional 32,150 shares during the period. Anthracite Investment Company Inc.'s holdings in DraftKings were worth $2,232,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in DKNG. Financial Counselors Inc. boosted its holdings in shares of DraftKings by 1.3% in the fourth quarter. Financial Counselors Inc. now owns 102,671 shares of the company's stock worth $3,819,000 after buying an additional 1,315 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in DraftKings by 2.0% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 200,312 shares of the company's stock worth $7,452,000 after acquiring an additional 3,867 shares during the period. EntryPoint Capital LLC purchased a new position in shares of DraftKings during the 4th quarter worth $451,000. Congress Wealth Management LLC DE grew its position in shares of DraftKings by 8.6% during the 4th quarter. Congress Wealth Management LLC DE now owns 14,630 shares of the company's stock valued at $544,000 after acquiring an additional 1,160 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of DraftKings by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 43,073,314 shares of the company's stock worth $1,602,327,000 after purchasing an additional 584,452 shares in the last quarter. 37.70% of the stock is currently owned by institutional investors.

Remove Ads

DraftKings Trading Down 4.7 %

Shares of NASDAQ:DKNG traded down $1.75 during trading on Friday, hitting $35.29. The company had a trading volume of 10,963,475 shares, compared to its average volume of 9,592,788. The stock has a market cap of $17.29 billion, a price-to-earnings ratio of -33.29, a price-to-earnings-growth ratio of 1.43 and a beta of 2.07. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.93 and a quick ratio of 1.00. The company has a fifty day simple moving average of $42.01 and a two-hundred day simple moving average of $40.32. DraftKings Inc. has a one year low of $28.69 and a one year high of $53.61.

DraftKings (NASDAQ:DKNG - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.35). DraftKings had a negative return on equity of 48.13% and a negative net margin of 10.64%. As a group, equities analysts forecast that DraftKings Inc. will post 0.64 earnings per share for the current year.

Insider Activity at DraftKings

In related news, insider Paul Liberman sold 200,000 shares of the firm's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $39.00, for a total value of $7,800,000.00. Following the transaction, the insider now owns 1,342,722 shares of the company's stock, valued at $52,366,158. This trade represents a 12.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider R Stanton Dodge sold 52,777 shares of DraftKings stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $37.62, for a total transaction of $1,985,470.74. Following the sale, the insider now directly owns 706,620 shares of the company's stock, valued at $26,583,044.40. This represents a 6.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,775,525 shares of company stock worth $117,241,446. Insiders own 51.19% of the company's stock.

Wall Street Analyst Weigh In

DKNG has been the topic of several recent research reports. Wells Fargo & Company raised their price objective on DraftKings from $53.00 to $60.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Truist Financial upped their price target on shares of DraftKings from $50.00 to $60.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Stifel Nicolaus raised their price objective on shares of DraftKings from $48.00 to $57.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. JMP Securities restated a "market outperform" rating and set a $50.00 target price on shares of DraftKings in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. increased their price target on DraftKings from $53.00 to $61.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, DraftKings currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.42.

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.