Virtu Financial LLC Purchases Shares of 37,247 DraftKings Inc. (NASDAQ:DKNG)

Virtu Financial LLC bought a new position in shares of DraftKings Inc. (NASDAQ:DKNG) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 37,247 shares of the company’s stock, valued at approximately $1,386,000.

Several other hedge funds have also modified their holdings of DKNG. Atria Investments Inc purchased a new stake in shares of DraftKings during the 3rd quarter worth about $215,000. Empowered Funds LLC raised its position in shares of DraftKings by 12.3% during the 3rd quarter. Empowered Funds LLC now owns 6,839 shares of the company’s stock worth $268,000 after purchasing an additional 750 shares during the last quarter. Natixis Advisors LLC raised its position in shares of DraftKings by 293.8% during the 3rd quarter. Natixis Advisors LLC now owns 49,426 shares of the company’s stock worth $1,937,000 after purchasing an additional 36,874 shares during the last quarter. Prospera Financial Services Inc raised its holdings in DraftKings by 5.3% in the 3rd quarter. Prospera Financial Services Inc now owns 10,181 shares of the company’s stock valued at $399,000 after acquiring an additional 509 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in DraftKings in the 3rd quarter valued at about $349,000. 37.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DKNG has been the subject of a number of recent analyst reports. Piper Sandler restated an “overweight” rating and set a $60.00 price target (up previously from $48.00) on shares of DraftKings in a report on Tuesday, February 18th. JMP Securities reaffirmed a “market outperform” rating and set a $50.00 price objective on shares of DraftKings in a research report on Friday, February 14th. JPMorgan Chase & Co. raised their price target on shares of DraftKings from $53.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Barclays raised their price target on shares of DraftKings from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company raised their price objective on shares of DraftKings from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, DraftKings presently has an average rating of “Moderate Buy” and a consensus price target of $54.44.

Insider Activity

In other news, insider Paul Liberman sold 532,095 shares of DraftKings stock in a transaction dated 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 sale, the insider now owns 68,654 shares of the company’s stock, valued at $2,629,448.20. The trade was a 88.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jocelyn Moore sold 3,420 shares of DraftKings stock in a transaction dated 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 directly owns 1,612 shares in the company, valued at approximately $67,704. The trade was a 67.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,663,966 shares of company stock valued at $112,550,362 over the last quarter. Corporate insiders own 51.19% of the company’s stock.

DraftKings Stock Up 2.7 %

Shares of NASDAQ:DKNG opened at $39.49 on Monday. The company has a market cap of $19.35 billion, a price-to-earnings ratio of -37.25, a PEG ratio of 1.43 and a beta of 2.07. The firm’s 50-day simple moving average is $42.17 and its 200-day simple moving average is $40.31. The company has a quick ratio of 1.00, a current ratio of 0.93 and a debt-to-equity ratio of 1.24. DraftKings Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $53.61.

DraftKings (NASDAQ:DKNG) last issued its earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.35). DraftKings had a negative net margin of 10.64% and a negative return on equity of 48.13%. As a group, equities research analysts predict that DraftKings Inc. will post 0.64 earnings per share 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.