DraftKings Inc. (NASDAQ:DKNG) Shares Sold by EULAV Asset Management

EULAV Asset Management decreased its position in DraftKings Inc. (NASDAQ:DKNG) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 220,000 shares of the company’s stock after selling 1,000 shares during the quarter. EULAV Asset Management’s holdings in DraftKings were worth $8,184,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Synergy Asset Management LLC acquired a new stake in DraftKings during the 4th quarter valued at $30,000. Delos Wealth Advisors LLC acquired a new position in DraftKings in the 3rd quarter worth $43,000. V Square Quantitative Management LLC purchased a new position in DraftKings in the 3rd quarter valued at about $46,000. Creative Financial Designs Inc. ADV grew its stake 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 valued at $47,000 after acquiring an additional 320 shares in the last quarter. Finally, YANKCOM Partnership purchased a new stake in shares of DraftKings during the fourth quarter worth about $48,000. Hedge funds and other institutional investors own 37.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on DKNG. TD Cowen lowered their price objective on DraftKings from $55.00 to $51.00 and set a “buy” rating for the company in a research note on Tuesday. BMO Capital Markets reiterated an “outperform” rating and set a $48.00 price objective on shares of DraftKings in a research note on Wednesday, October 16th. Needham & Company LLC reissued a “buy” rating and issued a $60.00 target price on shares of DraftKings in a research report on Friday. JPMorgan Chase & Co. lifted 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, Barclays boosted their price objective on DraftKings from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Three analysts have rated the stock with a hold rating and twenty-three have assigned 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 $50.92.

Insiders Place Their Bets

In other news, insider R Stanton Dodge sold 228,496 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now owns 541,884 shares in the company, valued at $23,160,122.16. This represents a 29.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul Liberman sold 200,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $39.00, for a total value of $7,800,000.00. Following the transaction, the insider now directly owns 1,342,722 shares of the company’s stock, valued at $52,366,158. This represents a 12.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 963,742 shares of company stock worth $38,082,888. 51.19% of the stock is owned by corporate insiders.

DraftKings Stock Down 0.4 %

Shares of DraftKings stock opened at $42.28 on Friday. DraftKings Inc. has a 1-year low of $28.69 and a 1-year high of $49.57. The company has a market capitalization of $20.62 billion, a P/E ratio of -48.04, a PEG ratio of 3.14 and a beta of 1.93. The business’s fifty day moving average price is $40.37 and its two-hundred day moving average price is $38.35. 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 (NASDAQ:DKNG) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.18). The company had revenue of $1.10 billion during 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%. As a group, research analysts forecast that DraftKings Inc. will post -0.93 EPS for the current year.

About DraftKings

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.