Allworth Financial LP Has $150,000 Position in DraftKings Inc. (NASDAQ:DKNG)

Allworth Financial LP increased its stake in DraftKings Inc. (NASDAQ:DKNG) by 8.0% in the 4th quarter, Holdings Channel reports. The firm owned 3,659 shares of the company’s stock after purchasing an additional 271 shares during the period. Allworth Financial LP’s holdings in DraftKings were worth $150,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DKNG. Stonebridge Financial Group LLC acquired a new stake in DraftKings in the 4th quarter worth approximately $28,000. Synergy Asset Management LLC acquired a new stake in DraftKings in the 4th quarter worth approximately $30,000. Delos Wealth Advisors LLC acquired a new position in shares of DraftKings during the third quarter worth approximately $43,000. Creative Financial Designs Inc. ADV lifted 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 during the last quarter. Finally, YANKCOM Partnership acquired a new position in shares of DraftKings during the fourth quarter worth approximately $48,000. 37.70% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other DraftKings news, insider Paul Liberman sold 532,095 shares of the business’s stock in a transaction 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 transaction, the insider now owns 68,654 shares of the company’s stock, valued at approximately $2,629,448.20. The trade was a 88.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $45.00, for a total value of $9,000,000.00. Following the completion of the transaction, the insider now directly owns 2,678,613 shares in the company, valued at approximately $120,537,585. This represents a 6.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,160,591 shares of company stock valued at $46,945,158. 51.19% of the stock is currently owned by corporate insiders.

DraftKings Stock Performance

Shares of NASDAQ:DKNG opened at $45.57 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.93 and a quick ratio of 1.00. The stock has a market capitalization of $22.33 billion, a price-to-earnings ratio of -42.99, a price-to-earnings-growth ratio of 1.43 and a beta of 1.93. The business’s fifty day moving average price is $41.41 and its two-hundred day moving average price is $39.40. DraftKings Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $53.61.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DKNG. Benchmark upped their price target on DraftKings from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, February 14th. BTIG Research set a $59.00 price target on DraftKings in a report on Monday, February 3rd. JPMorgan Chase & Co. upped their price target on DraftKings from $53.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Cowen reiterated a “buy” rating on shares of DraftKings in a report on Tuesday, February 4th. Finally, Piper Sandler reiterated an “overweight” rating and set a $60.00 price target (up from $48.00) on shares of DraftKings in a report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, DraftKings presently has an average rating of “Moderate Buy” and an average price target of $54.26.

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.