DraftKings Inc. (NASDAQ:DKNG) Shares Bought by Oak Thistle LLC

Oak Thistle LLC increased its stake in DraftKings Inc. (NASDAQ:DKNG) by 104.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,700 shares of the company’s stock after buying an additional 14,688 shares during the quarter. Oak Thistle LLC’s holdings in DraftKings were worth $1,068,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Pine Valley Investments Ltd Liability Co lifted its holdings 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 worth $271,000 after buying an additional 249 shares in the last quarter. Claro Advisors LLC increased its position in shares of DraftKings by 1.5% during the fourth quarter. Claro Advisors LLC now owns 18,093 shares of the company’s stock worth $673,000 after acquiring an additional 264 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of DraftKings by 0.6% in the third quarter. Global Retirement Partners LLC now owns 47,067 shares of the company’s stock worth $1,845,000 after acquiring an additional 273 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in DraftKings by 36.8% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock valued at $47,000 after purchasing an additional 320 shares during the last quarter. Finally, Smith Thornton Advisors LLC grew its stake in DraftKings by 3.9% during the 3rd quarter. Smith Thornton Advisors LLC now owns 9,552 shares of the company’s stock valued at $374,000 after purchasing an additional 360 shares in the last quarter. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

DraftKings Stock Performance

DKNG opened at $38.72 on Thursday. DraftKings Inc. has a twelve month low of $28.69 and a twelve month high of $49.57. The stock has a market cap of $34.10 billion, a PE ratio of -44.00 and a beta of 1.90. The business’s 50 day moving average is $40.64 and its 200-day moving average is $37.93. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.18). The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. On average, analysts predict that DraftKings Inc. will post -0.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on DKNG shares. JPMorgan Chase & Co. upped their target price on DraftKings from $47.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $48.00 price target on shares of DraftKings in a report on Wednesday, October 16th. Benchmark reissued a “buy” rating and set a $44.00 price objective on shares of DraftKings in a report on Tuesday, January 7th. Macquarie boosted their target price on shares of DraftKings from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of DraftKings in a research report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, DraftKings presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.08.

Insider Buying and Selling

In related news, insider R Stanton Dodge sold 228,496 shares of the business’s stock in a transaction that occurred 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 owns 541,884 shares of the company’s stock, valued at $23,160,122.16. The trade was a 29.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Liberman sold 532,095 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $38.30, for a total value of $20,379,238.50. Following the transaction, the insider now directly owns 68,654 shares of the company’s stock, valued at approximately $2,629,448.20. The trade was a 88.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,052,183 shares of company stock valued at $41,303,025 over the last 90 days. 51.19% of the stock is currently owned by company insiders.

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.