DraftKings Inc. (NASDAQ:DKNG) Shares Acquired by Stablepoint Partners LLC

Stablepoint Partners LLC lifted its position in DraftKings Inc. (NASDAQ:DKNG) by 9.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,706 shares of the company’s stock after acquiring an additional 600 shares during the period. Stablepoint Partners LLC’s holdings in DraftKings were worth $249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. APG Asset Management N.V. raised its holdings in DraftKings by 195.5% in the 2nd quarter. APG Asset Management N.V. now owns 58,500 shares of the company’s stock valued at $2,083,000 after acquiring an additional 38,700 shares during the last quarter. MBB Public Markets I LLC purchased a new stake in shares of DraftKings in the second quarter valued at approximately $1,176,000. The Manufacturers Life Insurance Company increased its holdings in shares of DraftKings by 2.0% in the second quarter. The Manufacturers Life Insurance Company now owns 24,621 shares of the company’s stock valued at $940,000 after purchasing an additional 487 shares during the last quarter. Mackenzie Financial Corp lifted its position in DraftKings by 5.4% during the second quarter. Mackenzie Financial Corp now owns 23,356 shares of the company’s stock worth $891,000 after buying an additional 1,195 shares in the last quarter. Finally, Sepio Capital LP boosted its stake in DraftKings by 24.8% during the second quarter. Sepio Capital LP now owns 16,369 shares of the company’s stock worth $625,000 after buying an additional 3,250 shares during the last quarter. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at DraftKings

In other news, insider Paul Liberman sold 532,095 shares of the firm’s stock in a transaction dated 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 owns 68,654 shares of the company’s stock, valued at approximately $2,629,448.20. This trade represents a 88.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Robins sold 3,151 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $43.71, for a total value of $137,730.21. Following the completion of the transaction, the insider now directly owns 2,631,033 shares of the company’s stock, valued at $115,002,452.43. This trade represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 963,742 shares of company stock valued at $38,082,888. Insiders own 51.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wells Fargo & Company raised their target price on DraftKings from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. raised their price objective on shares of DraftKings from $47.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Susquehanna decreased their target price on shares of DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Benchmark restated a “buy” rating and set a $44.00 price target on shares of DraftKings in a report on Tuesday, January 7th. Finally, Macquarie upped their price objective on DraftKings from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.08.

DraftKings Price Performance

DKNG stock opened at $41.34 on Monday. The business’s 50-day moving average is $40.59 and its two-hundred day moving average is $38.10. 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 market capitalization of $36.41 billion, a P/E ratio of -46.98, a P/E/G ratio of 3.07 and a beta of 1.90. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $49.57.

DraftKings (NASDAQ:DKNG) last issued 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 net margin of 9.06% and a negative return on equity of 41.23%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.12 billion. Analysts anticipate that DraftKings Inc. will post -0.9 earnings per share for the current fiscal year.

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.