Financial Counselors Inc. Has $3.82 Million Stake in DraftKings Inc. (NASDAQ:DKNG)

Financial Counselors Inc. raised its position in DraftKings Inc. (NASDAQ:DKNG) by 1.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 102,671 shares of the company’s stock after acquiring an additional 1,315 shares during the period. Financial Counselors Inc.’s holdings in DraftKings were worth $3,819,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Pine Valley Investments Ltd Liability Co raised its stake in DraftKings by 3.7% in the 3rd 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 during the period. Claro Advisors LLC increased its holdings in shares of DraftKings by 1.5% in the fourth quarter. Claro Advisors LLC now owns 18,093 shares of the company’s stock valued at $673,000 after purchasing an additional 264 shares during the last quarter. Allworth Financial LP raised its position in shares of DraftKings by 8.0% in the fourth quarter. Allworth Financial LP now owns 3,659 shares of the company’s stock valued at $150,000 after purchasing an additional 271 shares during the period. Westside Investment Management Inc. boosted its holdings in shares of DraftKings by 0.6% during the 4th quarter. Westside Investment Management Inc. now owns 45,118 shares of the company’s stock worth $1,678,000 after buying an additional 288 shares during the period. Finally, Nvwm LLC grew its stake in DraftKings by 1.6% in the 4th quarter. Nvwm LLC now owns 19,343 shares of the company’s stock valued at $720,000 after buying an additional 312 shares during the last quarter. Institutional investors own 37.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DKNG. Stifel Nicolaus lifted their price target on DraftKings from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. TD Cowen dropped their price objective on DraftKings from $55.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Cowen reissued a “buy” rating on shares of DraftKings in a report on Tuesday, February 4th. Piper Sandler reissued an “overweight” rating and issued a $60.00 price objective (up from $48.00) on shares of DraftKings in a research note on Tuesday, February 18th. Finally, Argus set a $60.00 target price on DraftKings in a report on Tuesday, February 18th. Three equities research 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, the stock has an average rating of “Moderate Buy” and an average target price of $54.44.

DraftKings Price Performance

DraftKings stock opened at $37.68 on Thursday. The stock’s 50 day moving average is $42.14 and its 200 day moving average is $40.35. DraftKings Inc. has a one year low of $28.69 and a one year high of $53.61. The firm has a market cap of $18.46 billion, a P/E ratio of -35.55, a P/E/G ratio of 1.43 and a beta of 2.07. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.93 and a quick ratio of 1.00.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) 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, research analysts expect that DraftKings Inc. will post 0.64 EPS for the current year.

Insider Buying and Selling at DraftKings

In related news, insider Matthew Kalish sold 587,585 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $47.05, for a total transaction of $27,645,874.25. Following the transaction, the insider now owns 4,118,927 shares in the company, valued at $193,795,515.35. The trade was a 12.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alan Wayne Ellingson sold 158,661 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $42.42, for a total transaction of $6,730,399.62. Following the completion of the sale, the chief financial officer now owns 179,435 shares of the company’s stock, valued at $7,611,632.70. The trade was a 46.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,131,871 shares of company stock valued at $92,171,123. 51.19% of the stock is currently owned by insiders.

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.