Braun Stacey Associates Inc. Grows Stock Holdings in DraftKings Inc. (NASDAQ:DKNG)

Braun Stacey Associates Inc. increased its holdings in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 302,410 shares of the company's stock after purchasing an additional 8,070 shares during the quarter. Braun Stacey Associates Inc.'s holdings in DraftKings were worth $11,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new stake in DraftKings in the fourth quarter worth about $28,000. Synergy Asset Management LLC purchased a new stake in DraftKings in the fourth quarter worth about $30,000. Delos Wealth Advisors LLC purchased a new stake in DraftKings in the third quarter worth about $43,000. V Square Quantitative Management LLC purchased a new stake in DraftKings in the third quarter worth about $46,000. Finally, Creative Financial Designs Inc. ADV lifted its holdings in DraftKings by 36.8% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company's stock worth $47,000 after buying an additional 320 shares during the period. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

DraftKings Stock Performance

NASDAQ:DKNG traded down $3.87 during trading hours on Friday, reaching $45.57. The company had a trading volume of 16,259,512 shares, compared to its average volume of 10,188,783. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24. DraftKings Inc. has a 52 week low of $28.69 and a 52 week high of $53.61. The firm has a market cap of $22.33 billion, a price-to-earnings ratio of -42.99, a PEG ratio of 1.91 and a beta of 1.93. The firm's 50 day moving average price is $41.41 and its 200-day moving average price is $39.28.

DraftKings (NASDAQ:DKNG - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported ($0.28) 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%. On average, analysts forecast that DraftKings Inc. will post 0.49 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jason Robins sold 200,000 shares of the business's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $45.00, for a total transaction of $9,000,000.00. Following the completion of the sale, the insider now owns 2,678,613 shares of the company's stock, valued at $120,537,585. The trade was a 6.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider R Stanton Dodge sold 228,496 shares of the business's stock in a transaction on Monday, December 9th. The shares were 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 of the company's stock, valued at approximately $23,160,122.16. The trade was a 29.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,160,591 shares of company stock valued at $46,945,158. Company insiders own 51.19% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on DKNG. TD Cowen lowered their price objective on shares of DraftKings from $55.00 to $51.00 and set a "buy" rating for the company in a report on Tuesday, February 4th. Macquarie raised their price objective on shares of DraftKings from $50.00 to $51.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. Susquehanna lowered their target price on shares of DraftKings from $56.00 to $54.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Truist Financial lifted their target price on shares of DraftKings from $50.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Benchmark lifted their target price on shares of DraftKings from $44.00 to $51.00 and gave the company a "buy" rating in a report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned 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 $53.69.

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.