Financial Counselors Inc. Has $3.82 Million Stake in DraftKings Inc. (NASDAQ:DKNG)

Financial Counselors Inc. boosted its holdings in DraftKings Inc. (NASDAQ:DKNG) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 102,671 shares of the company’s stock after purchasing an additional 1,315 shares during the quarter. Financial Counselors Inc.’s holdings in DraftKings were worth $3,819,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of DKNG. Principal Financial Group Inc. lifted its stake in shares of DraftKings by 14.6% in the third quarter. Principal Financial Group Inc. now owns 234,768 shares of the company’s stock valued at $9,203,000 after buying an additional 29,991 shares in the last quarter. Vestmark Advisory Solutions Inc. lifted its position in DraftKings by 27.7% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 120,684 shares of the company’s stock valued at $4,766,000 after acquiring an additional 26,164 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in DraftKings by 2.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,480,549 shares of the company’s stock valued at $58,038,000 after acquiring an additional 35,466 shares in the last quarter. Stifel Financial Corp boosted its stake in DraftKings by 27.7% during the 3rd quarter. Stifel Financial Corp now owns 195,628 shares of the company’s stock valued at $7,669,000 after purchasing an additional 42,431 shares during the last quarter. Finally, FMR LLC increased its holdings in DraftKings by 14.7% during the 3rd quarter. FMR LLC now owns 6,467,066 shares of the company’s stock worth $253,509,000 after purchasing an additional 826,626 shares in the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

DraftKings Stock Down 3.3 %

DKNG stock opened at $37.68 on Thursday. The stock has a 50-day simple moving average of $42.14 and a two-hundred day simple moving average of $40.35. DraftKings Inc. has a twelve month low of $28.69 and a twelve month high of $53.61. The firm has a market capitalization of $18.46 billion, a PE ratio of -35.55, a PEG ratio of 1.43 and a beta of 2.07. 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 (NASDAQ:DKNG) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) EPS 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%. On average, equities analysts predict that DraftKings Inc. will post 0.64 EPS for the current fiscal year.

Insider Activity

In related news, insider R Stanton Dodge sold 52,777 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.00, for a total transaction of $2,058,303.00. Following the completion of the transaction, the insider now directly owns 653,843 shares in the company, valued at $25,499,877. The trade was a 7.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jocelyn Moore sold 3,420 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $42.00, for a total value 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 sold 2,131,871 shares of company stock worth $92,171,123 in the last three months. Corporate insiders own 51.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on DKNG shares. Needham & Company LLC set a $65.00 target price on shares of DraftKings in a research note on Tuesday, February 18th. Stifel Nicolaus lifted their target price on shares of DraftKings from $48.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Morgan Stanley boosted their target price on DraftKings from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. JPMorgan Chase & Co. increased their price target on DraftKings from $53.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Finally, Piper Sandler reissued an “overweight” rating and issued a $60.00 price objective (up previously from $48.00) on shares of DraftKings in a research report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.44.

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.