NBW Capital LLC Boosts Stock Position in DraftKings Inc. (NASDAQ:DKNG)

NBW Capital LLC boosted its holdings in DraftKings Inc. (NASDAQ:DKNG) by 10.0% during the 4th quarter, Holdings Channel reports. The firm owned 115,168 shares of the company’s stock after acquiring an additional 10,451 shares during the period. NBW Capital LLC’s holdings in DraftKings were worth $4,284,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new position in DraftKings in the fourth quarter worth $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. Creative Financial Designs Inc. ADV lifted its position 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 buying an additional 320 shares during the last quarter. Finally, YANKCOM Partnership purchased a new position in shares of DraftKings during the 4th quarter valued at $48,000. Hedge funds and other institutional investors own 37.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DKNG. TD Cowen dropped their price target on DraftKings from $55.00 to $51.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Argus set a $60.00 price target on DraftKings in a research report on Tuesday, February 18th. JMP Securities reaffirmed a “market outperform” rating and set a $50.00 price target on shares of DraftKings in a research report on Friday, February 14th. Piper Sandler reaffirmed an “overweight” rating and set a $60.00 price target (up previously from $48.00) on shares of DraftKings in a research report on Tuesday, February 18th. Finally, Morgan Stanley upped their price target on DraftKings from $49.00 to $53.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.44.

Insider Activity

In related news, CFO Alan Wayne Ellingson sold 158,661 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $42.42, for a total transaction of $6,730,399.62. Following the completion of the sale, the chief financial officer now directly owns 179,435 shares in the company, valued at $7,611,632.70. This represents a 46.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider R Stanton Dodge sold 228,496 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $42.74, for a total value of $9,765,919.04. Following the sale, the insider now owns 541,884 shares of the company’s stock, valued at $23,160,122.16. This represents a 29.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,573,488 shares of company stock worth $109,600,767. 51.19% of the stock is currently owned by insiders.

DraftKings Price Performance

Shares of DraftKings stock opened at $41.59 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $20.38 billion, a PE ratio of -39.24, a price-to-earnings-growth ratio of 1.43 and a beta of 1.93. The business’s 50-day moving average price is $41.85 and its 200-day moving average price is $39.89. DraftKings Inc. has a 12 month low of $28.69 and a 12 month high of $53.61.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.35). DraftKings had a negative net margin of 10.64% and a negative return on equity of 48.13%. Sell-side analysts forecast that DraftKings Inc. will post 0.64 EPS for the current fiscal 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.