Strategic Planning Group LLC Acquires 2,925 Shares of DraftKings Inc. (NASDAQ:DKNG)

Strategic Planning Group LLC raised its holdings in DraftKings Inc. (NASDAQ:DKNG) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,103 shares of the company’s stock after acquiring an additional 2,925 shares during the period. Strategic Planning Group LLC’s holdings in DraftKings were worth $2,794,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Delos Wealth Advisors LLC bought a new stake in shares of DraftKings during the 3rd quarter valued at approximately $43,000. V Square Quantitative Management LLC bought a new stake in shares of DraftKings during the third quarter worth $46,000. Creative Financial Designs Inc. ADV increased its holdings in shares of DraftKings by 36.8% during the third quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock worth $47,000 after buying an additional 320 shares in the last quarter. Eastern Bank bought a new position in shares of DraftKings in the 3rd quarter valued at $59,000. Finally, Toth Financial Advisory Corp acquired a new stake in shares of DraftKings during the 4th quarter valued at $58,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

Insider Activity

In other DraftKings news, insider Jason Robins sold 3,151 shares of DraftKings stock in a transaction dated Thursday, November 21st. The stock was 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 in the company, valued at approximately $115,002,452.43. The trade was a 0.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Liberman sold 532,095 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $38.30, for a total value of $20,379,238.50. Following the sale, the insider now directly owns 68,654 shares of the company’s stock, valued at $2,629,448.20. This represents a 88.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 963,742 shares of company stock worth $38,082,888 over the last quarter. 51.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on DKNG shares. Benchmark reiterated a “buy” rating and issued a $44.00 target price on shares of DraftKings in a research report on Tuesday, January 7th. Morgan Stanley raised their price objective on shares of DraftKings from $47.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Barclays boosted their target price on shares of DraftKings from $45.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Mizuho upped their price target on shares of DraftKings from $54.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $48.00 price target on shares of DraftKings in a report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.08.

DraftKings Trading Down 0.2 %

DKNG opened at $41.90 on Thursday. The company has a fifty day moving average price of $40.50 and a two-hundred day moving average price of $38.19. DraftKings Inc. has a 1-year low of $28.69 and a 1-year high of $49.57. The company has a market cap of $36.90 billion, a P/E ratio of -47.61, a price-to-earnings-growth ratio of 3.07 and a beta of 1.90. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17.

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

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.