Foundations Investment Advisors LLC raised its holdings in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 30.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,741 shares of the company's stock after purchasing an additional 12,074 shares during the quarter. Foundations Investment Advisors LLC's holdings in DraftKings were worth $1,925,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in DKNG. Delos Wealth Advisors LLC acquired a new stake in DraftKings in the third quarter valued at $43,000. V Square Quantitative Management LLC acquired a new stake in shares of DraftKings in the 3rd quarter worth approximately $46,000. Creative Financial Designs Inc. ADV grew its holdings in shares of DraftKings by 36.8% in the 3rd 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 during the period. Eastern Bank acquired a new position in DraftKings during the third quarter worth $59,000. Finally, Toth Financial Advisory Corp purchased a new stake in DraftKings during the fourth quarter worth $58,000. 37.70% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
DKNG has been the topic of several recent research reports. Benchmark reaffirmed a "buy" rating and issued a $44.00 price target on shares of DraftKings in a report on Tuesday, January 7th. Mizuho upped their target price on DraftKings from $54.00 to $62.00 and gave the company an "outperform" rating in a research note on Friday, October 18th. JMP Securities dropped their price target on DraftKings from $52.00 to $50.00 and set a "market outperform" rating for the company in a research report on Monday, January 6th. Susquehanna reduced their price objective on DraftKings from $56.00 to $54.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company increased their price objective on DraftKings from $47.00 to $52.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.08.
Read Our Latest Research Report on DKNG
Insider Buying and Selling at DraftKings
In related news, insider R Stanton Dodge sold 228,496 shares of the business's stock in a transaction dated 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 completion of the sale, the insider now owns 541,884 shares of the company's stock, valued at $23,160,122.16. This represents a 29.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason Robins sold 3,151 shares of the firm's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $43.71, for a total transaction of $137,730.21. Following the completion of the transaction, the insider now directly owns 2,631,033 shares in the company, valued at $115,002,452.43. This represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 963,742 shares of company stock worth $38,082,888 over the last quarter. 51.19% of the stock is owned by corporate insiders.
DraftKings Stock Down 0.2 %
Shares of NASDAQ:DKNG traded down $0.10 during midday trading on Wednesday, reaching $41.90. The company had a trading volume of 4,018,064 shares, compared to its average volume of 7,840,242. The stock has a market capitalization of $36.90 billion, a P/E ratio of -47.61, a PEG ratio of 3.07 and a beta of 1.90. The stock's fifty day moving average price is $40.54 and its 200-day moving average price is $38.17. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. DraftKings Inc. has a one year low of $28.69 and a one year high of $49.57.
DraftKings (NASDAQ:DKNG - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.18). DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. Equities research analysts expect that DraftKings Inc. will post -0.9 earnings per share for the current fiscal year.
DraftKings 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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