DraftKings Inc. (NASDAQ:DKNG) Shares Bought by Consolidated Investment Group LLC

Consolidated Investment Group LLC grew its holdings in DraftKings Inc. (NASDAQ:DKNG) by 45.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 60,500 shares of the company’s stock after buying an additional 19,000 shares during the quarter. Consolidated Investment Group LLC’s holdings in DraftKings were worth $2,251,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of DKNG. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in DraftKings by 63.6% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 81,979 shares of the company’s stock worth $3,129,000 after acquiring an additional 31,880 shares during the last quarter. APG Asset Management N.V. raised its stake in DraftKings by 195.5% in the second quarter. APG Asset Management N.V. now owns 58,500 shares of the company’s stock valued at $2,083,000 after buying an additional 38,700 shares in the last quarter. MBB Public Markets I LLC purchased a new stake in DraftKings during the 2nd quarter worth about $1,176,000. The Manufacturers Life Insurance Company boosted its position in shares of DraftKings by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,621 shares of the company’s stock worth $940,000 after acquiring an additional 487 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of DraftKings by 5.4% in the 2nd quarter. Mackenzie Financial Corp now owns 23,356 shares of the company’s stock valued at $891,000 after acquiring an additional 1,195 shares during the last quarter. Hedge funds and other institutional investors own 37.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on DKNG shares. Benchmark reissued a “buy” rating and set a $44.00 price objective on shares of DraftKings in a report on Tuesday, January 7th. Susquehanna decreased 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. TD Cowen lifted their target price on DraftKings from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. raised their price target on DraftKings from $47.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, JMP Securities reduced their price objective on DraftKings from $52.00 to $50.00 and set a “market outperform” rating for the company in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DraftKings has an average rating of “Moderate Buy” and an average price target of $51.08.

DraftKings Price Performance

DraftKings stock opened at $41.34 on Friday. The stock has a market capitalization of $36.41 billion, a P/E ratio of -46.98, a P/E/G ratio of 3.07 and a beta of 1.90. DraftKings Inc. has a 12-month low of $28.69 and a 12-month high of $49.57. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s 50-day moving average is $40.59 and its two-hundred day moving average is $38.10.

DraftKings (NASDAQ:DKNG) last released its earnings results on Thursday, November 7th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.18). DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Equities analysts predict that DraftKings Inc. will post -0.9 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jason Robins sold 3,151 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $43.71, for a total transaction of $137,730.21. Following the completion of the transaction, the insider now owns 2,631,033 shares of the company’s stock, valued at approximately $115,002,452.43. This represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul Liberman sold 200,000 shares of DraftKings stock in a transaction on Friday, January 10th. The shares were sold at an average price of $39.00, for a total transaction of $7,800,000.00. Following the completion of the transaction, the insider now owns 1,342,722 shares in the company, valued at approximately $52,366,158. This trade represents a 12.96 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 963,742 shares of company stock valued at $38,082,888. Insiders own 51.19% of the company’s stock.

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.