Wolff Wiese Magana LLC Sells 395 Shares of DraftKings Inc. (NASDAQ:DKNG)

Wolff Wiese Magana LLC decreased its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 17.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,867 shares of the company’s stock after selling 395 shares during the period. Wolff Wiese Magana LLC’s holdings in DraftKings were worth $69,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DKNG. Principal Financial Group Inc. grew its holdings in shares of DraftKings by 14.6% during the third quarter. Principal Financial Group Inc. now owns 234,768 shares of the company’s stock worth $9,203,000 after purchasing an additional 29,991 shares in the last quarter. Mizuho Securities USA LLC bought a new stake in shares of DraftKings during the 3rd quarter worth $28,028,000. Janney Montgomery Scott LLC grew its position in DraftKings by 51.6% in the third quarter. Janney Montgomery Scott LLC now owns 378,227 shares of the company’s stock worth $14,826,000 after acquiring an additional 128,676 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in DraftKings by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,175,255 shares of the company’s stock valued at $124,470,000 after acquiring an additional 86,336 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in DraftKings by 238.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 496,971 shares of the company’s stock valued at $19,481,000 after purchasing an additional 350,215 shares in the last quarter. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

DraftKings Trading Up 3.3 %

DKNG opened at $41.33 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17. DraftKings Inc. has a 52 week low of $28.69 and a 52 week high of $49.57. The stock has a market cap of $36.40 billion, a PE ratio of -46.97 and a beta of 1.90. The business has a 50 day moving average of $40.64 and a 200-day moving average of $37.93.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.60) EPS 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 for the quarter, compared to analysts’ expectations of $1.12 billion. Equities research analysts predict that DraftKings Inc. will post -0.79 earnings per share for the current fiscal year.

Insider Activity at DraftKings

In other DraftKings news, insider R Stanton Dodge sold 228,496 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $42.74, for a total transaction of $9,765,919.04. Following the sale, the insider now directly owns 541,884 shares in the company, valued at approximately $23,160,122.16. This trade represents a 29.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jason Robins sold 3,151 shares of the stock in a transaction 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 sale, the insider now directly owns 2,631,033 shares in the company, 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. Insiders sold a total of 1,052,183 shares of company stock valued at $41,303,025 in the last 90 days. Corporate insiders own 51.19% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on DKNG shares. Mizuho upped their price objective on DraftKings from $54.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Susquehanna reduced their price target on shares of DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price objective on shares of DraftKings from $47.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of DraftKings in a research note on Wednesday, October 16th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $60.00 target price on shares of DraftKings in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, DraftKings presently has a consensus rating of “Moderate Buy” and an average target price of $51.08.

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.