Roman Butler Fullerton & Co. Boosts Stake in DraftKings Inc. (NASDAQ:DKNG)

Roman Butler Fullerton & Co. grew its position in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 20.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,585 shares of the company's stock after purchasing an additional 5,506 shares during the period. Roman Butler Fullerton & Co.'s holdings in DraftKings were worth $1,340,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fred Alger Management LLC lifted its stake in shares of DraftKings by 46.6% in the third quarter. Fred Alger Management LLC now owns 4,643,852 shares of the company's stock valued at $182,039,000 after buying an additional 1,476,003 shares during the period. FMR LLC raised its stake in shares of DraftKings by 14.7% in the third quarter. FMR LLC now owns 6,467,066 shares of the company's stock valued at $253,509,000 after acquiring an additional 826,626 shares during the last quarter. Mizuho Securities USA LLC bought a new stake in shares of DraftKings during the third quarter worth $28,028,000. Blue Whale Capital LLP increased its position in DraftKings by 59.7% in the 3rd quarter. Blue Whale Capital LLP now owns 1,644,774 shares of the company's stock valued at $64,475,000 after acquiring an additional 615,011 shares in the last quarter. Finally, Mediolanum International Funds Ltd acquired a new position in DraftKings during the 4th quarter worth $17,334,000. Institutional investors own 37.70% of the company's stock.

Insider Buying and Selling

In other news, insider Jason Robins sold 200,000 shares of the company's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $45.00, for a total value of $9,000,000.00. Following the sale, the insider now owns 2,678,613 shares in the company, valued at $120,537,585. This represents a 6.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Liberman sold 532,095 shares of the firm's stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $38.30, for a total transaction of $20,379,238.50. Following the sale, the insider now directly owns 68,654 shares in the company, valued at $2,629,448.20. The trade was a 88.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,163,742 shares of company stock worth $47,082,888 in the last 90 days. Insiders own 48.94% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Susquehanna dropped their price objective on DraftKings from $56.00 to $54.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Morgan Stanley boosted their target price on DraftKings from $47.00 to $48.00 and gave the company an "overweight" rating in a research note on Tuesday, October 22nd. Barclays raised their price target on DraftKings from $50.00 to $60.00 and gave the company an "overweight" rating in a research note on Tuesday. Stifel Nicolaus raised their price objective on DraftKings from $48.00 to $57.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their target price on DraftKings from $53.00 to $61.00 and gave the stock an "overweight" rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, DraftKings currently has an average rating of "Moderate Buy" and an average target price of $53.69.

DraftKings Trading Down 1.4 %

Shares of NASDAQ DKNG traded down $0.71 during trading hours on Wednesday, hitting $50.78. 14,684,315 shares of the company traded hands, compared to its average volume of 9,935,533. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17. The company's 50 day moving average price is $40.96 and its 200 day moving average price is $39.03. The stock has a market capitalization of $24.76 billion, a price-to-earnings ratio of -47.91, a price-to-earnings-growth ratio of 3.95 and a beta of 1.93. DraftKings Inc. has a 12 month low of $28.69 and a 12 month high of $53.61.

DraftKings (NASDAQ:DKNG - Get Free Report) last issued 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 47.48% and a negative net margin of 10.64%. On average, equities research analysts anticipate that DraftKings Inc. will post 0.43 earnings per share for the current fiscal year.

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.