48,554 Shares in DraftKings Inc. (NASDAQ:DKNG) Purchased by Scholtz & Company LLC

Scholtz & Company LLC acquired a new position in DraftKings Inc. (NASDAQ:DKNG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 48,554 shares of the company’s stock, valued at approximately $1,806,000.

Several other large investors also recently bought and sold shares of the company. Pine Valley Investments Ltd Liability Co lifted its position in shares of DraftKings by 3.7% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 6,924 shares of the company’s stock valued at $271,000 after acquiring an additional 249 shares in the last quarter. Claro Advisors LLC lifted its holdings in DraftKings by 1.5% in the 4th quarter. Claro Advisors LLC now owns 18,093 shares of the company’s stock valued at $673,000 after purchasing an additional 264 shares in the last quarter. Allworth Financial LP boosted its stake in DraftKings by 8.0% during the 4th quarter. Allworth Financial LP now owns 3,659 shares of the company’s stock worth $150,000 after purchasing an additional 271 shares during the last quarter. Westside Investment Management Inc. raised its position in shares of DraftKings by 0.6% in the fourth quarter. Westside Investment Management Inc. now owns 45,118 shares of the company’s stock valued at $1,678,000 after buying an additional 288 shares during the last quarter. Finally, Nvwm LLC lifted its stake in shares of DraftKings by 1.6% in the fourth quarter. Nvwm LLC now owns 19,343 shares of the company’s stock worth $720,000 after buying an additional 312 shares in the last quarter. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DKNG. Canaccord Genuity Group upped their price objective on shares of DraftKings from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Argus set a $60.00 price target on DraftKings in a report on Tuesday, February 18th. Wells Fargo & Company boosted their price objective on DraftKings from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Cowen reaffirmed a “buy” rating on shares of DraftKings in a research note on Tuesday, February 4th. Finally, Piper Sandler reissued an “overweight” rating and set a $60.00 price target (up previously from $48.00) on shares of DraftKings in a research report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, DraftKings has an average rating of “Moderate Buy” and a consensus price target of $54.42.

Insider Buying and Selling

In other news, insider Jason Robins sold 666,651 shares of DraftKings stock in a transaction 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 completion of the sale, the insider now directly owns 3,336,195 shares of the company’s stock, valued at approximately $141,521,391.90. The trade was a 16.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Liberman sold 643,654 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $38.95, for a total value of $25,070,323.30. Following the completion of the transaction, the insider now directly owns 682,764 shares in the company, valued at $26,593,657.80. This trade represents a 48.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,775,525 shares of company stock worth $117,241,446. Company insiders own 51.19% of the company’s stock.

DraftKings Price Performance

DraftKings stock opened at $33.19 on Wednesday. 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 52-week low of $28.69 and a 52-week high of $53.61. The firm has a market cap of $16.59 billion, a PE ratio of -31.31, a price-to-earnings-growth ratio of 1.43 and a beta of 2.07. The company’s 50 day moving average is $41.72 and its two-hundred day moving average is $40.29.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.35). DraftKings had a negative net margin of 10.64% and a negative return on equity of 48.13%. On average, research analysts expect that DraftKings Inc. will post 0.64 EPS 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.