D L Carlson Investment Group Inc. Sells 54,226 Shares of DraftKings Inc. (NASDAQ:DKNG)

D L Carlson Investment Group Inc. reduced its holdings in shares of DraftKings Inc. (NASDAQ:DKNGFree Report) by 27.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 142,439 shares of the company’s stock after selling 54,226 shares during the quarter. DraftKings accounts for 1.1% of D L Carlson Investment Group Inc.’s portfolio, making the stock its 22nd biggest holding. D L Carlson Investment Group Inc.’s holdings in DraftKings were worth $5,021,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Norges Bank purchased a new position in DraftKings in the fourth quarter worth about $192,140,000. Ameriprise Financial Inc. lifted its position in DraftKings by 345.7% during the third quarter. Ameriprise Financial Inc. now owns 4,440,494 shares of the company’s stock valued at $130,742,000 after purchasing an additional 3,444,107 shares in the last quarter. First Trust Advisors LP increased its position in DraftKings by 148.2% in the fourth quarter. First Trust Advisors LP now owns 4,235,008 shares of the company’s stock worth $149,284,000 after buying an additional 2,528,503 shares in the last quarter. Eagle Asset Management Inc. bought a new position in shares of DraftKings in the fourth quarter worth about $87,829,000. Finally, Jericho Capital Asset Management L.P. lifted its position in shares of DraftKings by 39.4% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 7,153,967 shares of the company’s stock valued at $210,613,000 after buying an additional 2,022,000 shares in the last quarter. 37.70% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $40.91, for a total transaction of $8,182,000.00. Following the completion of the sale, the insider now owns 3,043,231 shares in the company, valued at approximately $124,498,580.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other DraftKings news, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $40.91, for a total transaction of $8,182,000.00. Following the completion of the sale, the insider now directly owns 3,043,231 shares of the company’s stock, valued at approximately $124,498,580.21. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jocelyn Moore sold 1,450 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $35.92, for a total value of $52,084.00. Following the transaction, the director now directly owns 6,814 shares in the company, valued at approximately $244,758.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 601,450 shares of company stock valued at $25,486,084. 51.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DKNG. Berenberg Bank raised shares of DraftKings to a “hold” rating in a report on Friday, May 31st. Bank Of America (Bofa) raised their price target on DraftKings from $45.00 to $50.00 in a report on Thursday, February 15th. Stifel Nicolaus lowered their price objective on DraftKings from $51.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $55.00 target price on shares of DraftKings in a research report on Thursday, March 28th. Finally, BMO Capital Markets boosted their price target on DraftKings from $51.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, DraftKings currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

Read Our Latest Research Report on DraftKings

DraftKings Stock Down 1.0 %

NASDAQ DKNG traded down $0.38 during trading on Friday, hitting $38.60. The stock had a trading volume of 4,151,977 shares, compared to its average volume of 11,335,510. DraftKings Inc. has a one year low of $24.16 and a one year high of $49.57. The stock has a 50 day simple moving average of $41.52 and a 200 day simple moving average of $40.32. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.51.

DraftKings (NASDAQ:DKNGGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.02). The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.12 billion. DraftKings had a negative return on equity of 62.74% and a negative net margin of 13.45%. DraftKings’s revenue was up 52.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.87) earnings per share. On average, analysts forecast that DraftKings Inc. will post -0.21 earnings per share for the current year.

DraftKings Profile

(Free Report)

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.

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Institutional Ownership by Quarter for DraftKings (NASDAQ:DKNG)

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