Oak Thistle LLC Raises Position in DraftKings Inc. (NASDAQ:DKNG)

Oak Thistle LLC boosted its holdings in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) by 104.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,700 shares of the company's stock after acquiring an additional 14,688 shares during the period. Oak Thistle LLC's holdings in DraftKings were worth $1,068,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Delos Wealth Advisors LLC purchased a new position in shares of DraftKings during the third quarter valued at approximately $43,000. V Square Quantitative Management LLC purchased a new position in DraftKings during the third quarter valued at $46,000. Creative Financial Designs Inc. ADV boosted 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 acquiring an additional 320 shares in the last quarter. Eastern Bank bought a new position in shares of DraftKings during the third quarter valued at $59,000. Finally, Quarry LP purchased a new position in shares of DraftKings in the 2nd quarter worth about $87,000. 37.70% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Paul Liberman sold 88,441 shares of the business's stock in a transaction on Friday, October 25th. The shares were sold at an average price of $36.41, for a total value of $3,220,136.81. Following the sale, the insider now owns 1,923,483 shares in the company, valued at approximately $70,034,016.03. The trade was a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jason Robins sold 3,151 shares of the company's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $43.71, for a total transaction of $137,730.21. Following the sale, the insider now directly owns 2,631,033 shares in the company, valued at approximately $115,002,452.43. The trade was a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,052,183 shares of company stock worth $41,303,025 in the last 90 days. 48.94% of the stock is currently owned by corporate insiders.

DraftKings Price Performance

Shares of DKNG stock traded up $0.98 on Thursday, hitting $39.70. 8,470,735 shares of the stock traded hands, compared to its average volume of 9,190,548. The firm has a market cap of $34.96 billion, a price-to-earnings ratio of -45.12, a PEG ratio of 2.99 and a beta of 1.90. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50 day simple moving average of $40.65 and a two-hundred day simple moving average of $37.94. DraftKings Inc. has a 52 week low of $28.69 and a 52 week high of $49.57.

DraftKings (NASDAQ:DKNG - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.18). DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.12 billion. As a group, equities research analysts predict that DraftKings Inc. will post -0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on DKNG shares. Wells Fargo & Company increased their price objective on shares of DraftKings from $47.00 to $52.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. Benchmark restated a "buy" rating and issued a $44.00 price objective on shares of DraftKings in a report on Tuesday, January 7th. JPMorgan Chase & Co. upped their price objective on DraftKings from $47.00 to $53.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. JMP Securities reduced their target price on DraftKings from $52.00 to $50.00 and set a "market outperform" rating for the company in a report on Monday, January 6th. Finally, TD Cowen upped their price target on DraftKings from $50.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $51.08.

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.