21,216 Shares in DraftKings Inc. (NASDAQ:DKNG) Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI purchased a new position in shares of DraftKings Inc. (NASDAQ:DKNG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,216 shares of the company’s stock, valued at approximately $789,000.

Several other hedge funds have also recently modified their holdings of DKNG. Principal Financial Group Inc. raised its position in shares of DraftKings by 14.6% during the 3rd 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 during the last quarter. CWA Asset Management Group LLC acquired a new position in shares of DraftKings during the 3rd quarter worth about $355,000. Atria Investments Inc acquired a new position in shares of DraftKings during the 3rd quarter worth about $215,000. Future Fund LLC acquired a new position in shares of DraftKings during the 3rd quarter worth about $736,000. Finally, Oppenheimer Asset Management Inc. raised its holdings in DraftKings by 79.1% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 26,566 shares of the company’s stock valued at $1,041,000 after acquiring an additional 11,734 shares during the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

Insiders Place Their Bets

In other DraftKings news, insider Matthew Kalish sold 210,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $40.61, for a total transaction of $8,528,100.00. Following the sale, the insider now directly owns 4,140,509 shares in the company, valued at $168,146,070.49. This represents a 4.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jocelyn Moore sold 3,420 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $42.00, for a total transaction of $143,640.00. Following the completion of the sale, the director now owns 1,612 shares in the company, valued at $67,704. The trade was a 67.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,558,412 shares of company stock worth $108,506,588 in the last ninety days. 51.19% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on DKNG shares. JMP Securities reiterated a “market outperform” rating and issued a $50.00 price objective on shares of DraftKings in a report on Friday, February 14th. Benchmark increased their price objective on shares of DraftKings from $44.00 to $51.00 and gave the company a “buy” rating in a report on Monday. TD Cowen cut their price objective on shares of DraftKings from $55.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Cowen reiterated a “buy” rating on shares of DraftKings in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. increased their price objective on shares of DraftKings from $53.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.44.

DraftKings Stock Performance

NASDAQ:DKNG opened at $38.63 on Thursday. The stock has a market capitalization of $18.93 billion, a P/E ratio of -36.44, a PEG ratio of 1.43 and a beta of 2.07. DraftKings Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $53.61. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.00 and a current ratio of 0.93. The company has a 50 day moving average price of $42.12 and a 200 day moving average price of $40.09.

DraftKings (NASDAQ:DKNG) last released its 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%. Equities research analysts forecast that DraftKings Inc. will post 0.64 EPS for the current year.

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.