DraftKings Inc. (NASDAQ:DKNG) Shares Bought by American Century Companies Inc.

American Century Companies Inc. lifted its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 92.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 42,322 shares of the company’s stock after buying an additional 20,365 shares during the quarter. American Century Companies Inc.’s holdings in DraftKings were worth $1,574,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DKNG. Pine Valley Investments Ltd Liability Co increased its holdings in shares of DraftKings by 3.7% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 6,924 shares of the company’s stock valued at $271,000 after purchasing an additional 249 shares during the period. Claro Advisors LLC raised its position in DraftKings by 1.5% during the 4th quarter. Claro Advisors LLC now owns 18,093 shares of the company’s stock worth $673,000 after buying an additional 264 shares during the last quarter. Allworth Financial LP lifted its stake in shares of DraftKings by 8.0% in the 4th quarter. Allworth Financial LP now owns 3,659 shares of the company’s stock worth $150,000 after acquiring an additional 271 shares during the period. Westside Investment Management Inc. boosted its holdings in shares of DraftKings by 0.6% in the fourth quarter. Westside Investment Management Inc. now owns 45,118 shares of the company’s stock valued at $1,678,000 after acquiring an additional 288 shares in the last quarter. Finally, Nvwm LLC increased its stake in shares of DraftKings by 1.6% during the fourth quarter. Nvwm LLC now owns 19,343 shares of the company’s stock worth $720,000 after acquiring an additional 312 shares during the period. Hedge funds and other institutional investors own 37.70% of the company’s stock.

DraftKings Stock Performance

Shares of NASDAQ DKNG opened at $35.84 on Thursday. The company has a quick ratio of 1.00, a current ratio of 0.93 and a debt-to-equity ratio of 1.24. The firm’s 50-day moving average price is $40.39 and its two-hundred day moving average price is $39.96. DraftKings Inc. has a 52-week low of $28.69 and a 52-week high of $53.61. The stock has a market capitalization of $17.92 billion, a P/E ratio of -33.81, a P/E/G ratio of 1.43 and a beta of 2.16.

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

Insider Buying and Selling

In other news, insider Paul Liberman sold 643,654 shares of DraftKings stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $38.95, for a total value of $25,070,323.30. Following the transaction, the insider now directly owns 682,764 shares of the company’s stock, valued at $26,593,657.80. This trade represents a 48.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Alan Wayne Ellingson sold 158,661 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were 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 owns 179,435 shares of the company’s stock, valued at approximately $7,611,632.70. This trade represents a 46.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,775,525 shares of company stock valued at $117,241,446 in the last three months. 47.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

DKNG has been the topic of a number of analyst reports. TD Cowen lowered their price objective on DraftKings from $55.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Benchmark upped their price objective on DraftKings from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Cowen restated a “buy” rating on shares of DraftKings in a research report on Tuesday, February 4th. Argus set a $60.00 price objective on shares of DraftKings in a report on Tuesday, February 18th. Finally, Citigroup reaffirmed an “outperform” rating on shares of DraftKings in a report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.69.

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.