Carr Financial Group Corp Acquires 920 Shares of DraftKings Inc. (NASDAQ:DKNG)

Carr Financial Group Corp boosted its holdings in DraftKings Inc. (NASDAQ:DKNG) by 15.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,731 shares of the company’s stock after buying an additional 920 shares during the quarter. Carr Financial Group Corp’s holdings in DraftKings were worth $250,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Delos Wealth Advisors LLC bought a new position in DraftKings in the 3rd quarter valued at approximately $43,000. V Square Quantitative Management LLC bought a new position in DraftKings during the 3rd quarter worth approximately $46,000. Creative Financial Designs Inc. ADV raised its holdings in DraftKings by 36.8% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock worth $47,000 after purchasing an additional 320 shares during the last quarter. Eastern Bank bought a new position in DraftKings during the 3rd quarter worth approximately $59,000. Finally, Quarry LP bought a new position in DraftKings during the 2nd quarter worth approximately $87,000. Institutional investors own 37.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DKNG shares. Benchmark restated a “buy” rating and set a $44.00 price target on shares of DraftKings in a report on Tuesday, January 7th. TD Cowen raised their price target on shares of DraftKings from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Wells Fargo & Company raised their price target on shares of DraftKings from $47.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. BMO Capital Markets restated an “outperform” rating and set a $48.00 price target on shares of DraftKings in a report on Wednesday, October 16th. Finally, Mizuho raised their price target on shares of DraftKings from $54.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, DraftKings currently has a consensus rating of “Moderate Buy” and an average price target of $51.08.

Insiders Place Their Bets

In other news, insider Paul Liberman sold 200,000 shares of DraftKings stock in a transaction on Friday, January 10th. The stock was sold at an average price of $39.00, for a total transaction of $7,800,000.00. Following the sale, the insider now directly owns 1,342,722 shares in the company, valued at $52,366,158. The trade was a 12.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider R Stanton Dodge sold 228,496 shares of DraftKings stock in a transaction on Monday, December 9th. The stock was sold at an average price of $42.74, for a total value of $9,765,919.04. Following the sale, the insider now owns 541,884 shares in the company, valued at $23,160,122.16. The trade was a 29.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 963,742 shares of company stock valued at $38,082,888 in the last three months. 51.19% of the stock is currently owned by insiders.

DraftKings Price Performance

DKNG opened at $41.34 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17. The firm’s fifty day moving average price is $40.56 and its two-hundred day moving average price is $38.07. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $49.57.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings data 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 firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.12 billion. DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. On average, equities analysts anticipate that DraftKings Inc. will post -0.9 EPS for the current 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.