WINTON GROUP Ltd Increases Holdings in DraftKings Inc. (NASDAQ:DKNG)

WINTON GROUP Ltd lifted its holdings in DraftKings Inc. (NASDAQ:DKNG) by 12.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,073 shares of the company’s stock after acquiring an additional 4,704 shares during the period. WINTON GROUP Ltd’s holdings in DraftKings were worth $1,565,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of DraftKings by 3.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 519,044 shares of the company’s stock worth $19,438,000 after purchasing an additional 18,150 shares during the period. Korea Investment CORP lifted its position in DraftKings by 95.6% in the fourth quarter. Korea Investment CORP now owns 307,472 shares of the company’s stock worth $11,438,000 after buying an additional 150,311 shares during the last quarter. Anthracite Investment Company Inc. boosted its stake in DraftKings by 115.4% during the fourth quarter. Anthracite Investment Company Inc. now owns 60,000 shares of the company’s stock worth $2,232,000 after buying an additional 32,150 shares during the period. Financial Counselors Inc. increased its position in DraftKings by 1.3% during the fourth quarter. Financial Counselors Inc. now owns 102,671 shares of the company’s stock valued at $3,819,000 after acquiring an additional 1,315 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of DraftKings by 2.0% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 200,312 shares of the company’s stock valued at $7,452,000 after acquiring an additional 3,867 shares during the period. Hedge funds and other institutional investors own 37.70% of the company’s stock.

Insider Transactions at DraftKings

In other DraftKings news, CFO Alan Wayne Ellingson sold 158,661 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $42.42, for a total transaction of $6,730,399.62. Following the sale, the chief financial officer now owns 179,435 shares of the company’s stock, valued at approximately $7,611,632.70. The trade was a 46.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jason Robins sold 666,651 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $42.42, for a total transaction of $28,279,335.42. Following the transaction, the insider now owns 3,336,195 shares in the company, valued at $141,521,391.90. The trade was a 16.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,775,525 shares of company stock worth $117,241,446. Insiders own 51.19% of the company’s stock.

DraftKings Price Performance

Shares of DKNG opened at $37.04 on Friday. The company has a 50 day moving average of $42.09 and a two-hundred day moving average of $40.33. The company has a quick ratio of 1.00, a current ratio of 0.93 and a debt-to-equity ratio of 1.24. DraftKings Inc. has a twelve month low of $28.69 and a twelve month high of $53.61. The company has a market cap of $18.15 billion, a price-to-earnings ratio of -34.94, a price-to-earnings-growth ratio of 1.43 and a beta of 2.07.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) earnings per share 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%. As a group, analysts predict that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on DKNG shares. JPMorgan Chase & Co. upped their price target on shares of DraftKings from $53.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Morgan Stanley upped their target price on DraftKings from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Barclays raised their price target on DraftKings from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Wells Fargo & Company upped their price objective on DraftKings from $53.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Finally, Stifel Nicolaus lifted their target price on DraftKings from $48.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.44.

About DraftKings

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.