DraftKings Inc. (NASDAQ:DKNG) Stock Holdings Lifted by Van ECK Associates Corp

Van ECK Associates Corp boosted its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 56.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 206,112 shares of the company’s stock after purchasing an additional 74,419 shares during the period. Van ECK Associates Corp’s holdings in DraftKings were worth $7,667,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new position in DraftKings during the 4th quarter worth approximately $28,000. Synergy Asset Management LLC purchased a new position in shares of DraftKings during the 4th quarter valued at $30,000. Delos Wealth Advisors LLC purchased a new position in shares of DraftKings during the 3rd quarter valued at $43,000. V Square Quantitative Management LLC purchased a new position in shares of DraftKings during the 3rd quarter valued at $46,000. Finally, Creative Financial Designs Inc. ADV grew its holdings in shares of DraftKings by 36.8% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock valued at $47,000 after acquiring an additional 320 shares in the last quarter. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. TD Cowen lowered their price target on shares of DraftKings from $55.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. JPMorgan Chase & Co. boosted their price target on shares of DraftKings from $47.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Barclays boosted their price target on shares of DraftKings from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Susquehanna reduced their price objective 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. Finally, Benchmark lifted their price objective on shares of DraftKings from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.64.

Insider Activity

In other news, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $45.00, for a total transaction of $9,000,000.00. Following the completion of the transaction, the insider now owns 2,678,613 shares of the company’s stock, valued at approximately $120,537,585. This represents a 6.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider R Stanton Dodge sold 228,496 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $42.74, for a total transaction of $9,765,919.04. Following the transaction, the insider now directly owns 541,884 shares of the company’s stock, valued at $23,160,122.16. This represents a 29.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,163,742 shares of company stock valued at $47,082,888. Insiders own 51.19% of the company’s stock.

DraftKings Stock Up 15.2 %

DraftKings stock opened at $53.49 on Tuesday. The firm has a market cap of $26.08 billion, a price-to-earnings ratio of -60.78, a P/E/G ratio of 3.18 and a beta of 1.93. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. DraftKings Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $53.61. The firm has a fifty day moving average price of $40.76 and a two-hundred day moving average price of $38.89.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.35). DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. As a group, analysts forecast that DraftKings Inc. will post -0.95 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.