Arthur M. Cohen & Associates LLC Boosts Holdings in DraftKings Inc. (NASDAQ:DKNG)

Arthur M. Cohen & Associates LLC boosted its stake in DraftKings Inc. (NASDAQ:DKNG) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,670 shares of the company’s stock after acquiring an additional 355 shares during the period. Arthur M. Cohen & Associates LLC’s holdings in DraftKings were worth $360,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Empirical Asset Management LLC acquired a new stake in shares of DraftKings in the 4th quarter valued at about $429,000. Cohen Investment Advisors LLC lifted its stake in DraftKings by 1.5% in the fourth quarter. Cohen Investment Advisors LLC now owns 71,949 shares of the company’s stock valued at $2,677,000 after buying an additional 1,079 shares during the last quarter. Sanders Morris Harris LLC acquired a new stake in shares of DraftKings in the fourth quarter valued at approximately $6,165,000. Steph & Co. grew its position in shares of DraftKings by 40.3% during the fourth quarter. Steph & Co. now owns 4,470 shares of the company’s stock worth $166,000 after acquiring an additional 1,285 shares during the last quarter. Finally, Smith Thornton Advisors LLC grew its position in shares of DraftKings by 5.9% during the fourth quarter. Smith Thornton Advisors LLC now owns 10,115 shares of the company’s stock worth $376,000 after acquiring an additional 563 shares during the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

Wall Street Analysts Forecast Growth

DKNG has been the subject of a number of recent research reports. Susquehanna decreased their price target on shares of DraftKings from $56.00 to $54.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. TD Cowen increased their target price on shares of DraftKings from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Barclays boosted their price target on DraftKings from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Benchmark reaffirmed a “buy” rating and set a $44.00 price objective on shares of DraftKings in a research report on Tuesday, January 7th. Finally, Morgan Stanley lifted their target price on DraftKings from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, DraftKings currently has an average rating of “Moderate Buy” and a consensus price target of $51.08.

Insiders Place Their Bets

In other DraftKings news, insider R Stanton Dodge sold 228,496 shares of the firm’s stock in a transaction dated 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 directly owns 541,884 shares of the company’s stock, valued at approximately $23,160,122.16. This trade represents a 29.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason Robins sold 3,151 shares of DraftKings stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $43.71, for a total value of $137,730.21. Following the completion of the sale, the insider now owns 2,631,033 shares of the company’s stock, valued at $115,002,452.43. This trade represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,052,183 shares of company stock valued at $41,303,025 in the last ninety days. Insiders own 51.19% of the company’s stock.

DraftKings Stock Down 1.0 %

DraftKings stock opened at $39.29 on Friday. The firm has a market capitalization of $34.60 billion, a price-to-earnings ratio of -44.65, a price-to-earnings-growth ratio of 2.99 and a beta of 1.90. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.00. DraftKings Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $49.57. The stock’s fifty day moving average is $40.65 and its two-hundred day moving average is $37.97.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.18). The company 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%. Analysts predict that DraftKings Inc. will post -0.83 EPS for the current fiscal 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.