DraftKings Inc. (NASDAQ:DKNG) Shares Bought by Duality Advisers LP

Duality Advisers LP raised its holdings in DraftKings Inc. (NASDAQ:DKNG) by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,169 shares of the company’s stock after acquiring an additional 3,618 shares during the quarter. Duality Advisers LP’s holdings in DraftKings were worth $2,826,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Highlander Capital Management LLC lifted its holdings in DraftKings by 180.0% in the 4th quarter. Highlander Capital Management LLC now owns 700 shares of the company’s stock valued at $25,000 after acquiring an additional 450 shares during the last quarter. FSC Wealth Advisors LLC acquired a new stake in DraftKings in the 4th quarter valued at about $37,000. Householder Group Estate & Retirement Specialist LLC lifted its holdings in DraftKings by 154.2% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 1,215 shares of the company’s stock valued at $42,000 after acquiring an additional 737 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in DraftKings in the 3rd quarter valued at about $45,000. Finally, CI Investments Inc. lifted its stake in DraftKings by 55.9% during the third quarter. CI Investments Inc. now owns 1,671 shares of the company’s stock valued at $49,000 after buying an additional 599 shares in the last quarter. 37.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on DKNG. JMP Securities reaffirmed a “market outperform” rating and set a $52.00 price objective on shares of DraftKings in a research note on Monday, March 25th. The Goldman Sachs Group initiated coverage on shares of DraftKings in a research note on Tuesday, April 16th. They set a “buy” rating and a $60.00 price objective for the company. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $55.00 target price on shares of DraftKings in a report on Thursday, March 28th. Moffett Nathanson upped their target price on DraftKings from $52.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Finally, Wells Fargo & Company upped their target price on DraftKings from $39.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, DraftKings has an average rating of “Moderate Buy” and a consensus price target of $47.00.

Insider Activity at DraftKings

In related news, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $40.89, for a total value of $8,178,000.00. Following the completion of the transaction, the insider now directly owns 3,195,812 shares of the company’s stock, valued at $130,676,752.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $40.89, for a total value of $8,178,000.00. Following the completion of the transaction, the insider now directly owns 3,195,812 shares of the company’s stock, valued at $130,676,752.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider R Stanton Dodge sold 686,101 shares of DraftKings stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $43.06, for a total value of $29,543,509.06. Following the completion of the transaction, the insider now directly owns 200,239 shares of the company’s stock, valued at $8,622,291.34. The disclosure for this sale can be found here. Insiders sold 1,396,101 shares of company stock valued at $58,121,509 over the last ninety days. 48.94% of the stock is owned by insiders.

DraftKings Price Performance

Shares of NASDAQ:DKNG traded down $0.05 on Monday, hitting $40.63. The stock had a trading volume of 2,789,950 shares, compared to its average volume of 11,742,051. DraftKings Inc. has a twelve month low of $20.26 and a twelve month high of $49.57. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.34 and a current ratio of 1.34. The firm’s 50 day moving average price is $43.79 and its 200-day moving average price is $38.05. The company has a market capitalization of $35.21 billion, a price-to-earnings ratio of -23.28 and a beta of 1.86.

DraftKings (NASDAQ:DKNG) last issued its earnings results on Friday, February 16th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.16). DraftKings had a negative net margin of 21.88% and a negative return on equity of 87.24%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the firm posted ($0.53) EPS. The firm’s revenue for the quarter was up 43.9% on a year-over-year basis. On average, equities research analysts predict that DraftKings Inc. will post -0.25 earnings per share for the current year.

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.