DraftKings Inc. (NASDAQ:DKNG) Holdings Decreased by Jamison Private Wealth Management Inc.

Jamison Private Wealth Management Inc. reduced its holdings in DraftKings Inc. (NASDAQ:DKNG) by 5.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,977 shares of the company’s stock after selling 683 shares during the period. Jamison Private Wealth Management Inc.’s holdings in DraftKings were worth $483,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of DKNG. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in DraftKings by 63.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 81,979 shares of the company’s stock valued at $3,129,000 after buying an additional 31,880 shares during the period. APG Asset Management N.V. grew its holdings in shares of DraftKings by 195.5% during the 2nd quarter. APG Asset Management N.V. now owns 58,500 shares of the company’s stock valued at $2,083,000 after acquiring an additional 38,700 shares in the last quarter. MBB Public Markets I LLC purchased a new stake in shares of DraftKings during the second quarter worth $1,176,000. The Manufacturers Life Insurance Company boosted its position in DraftKings by 2.0% during the second quarter. The Manufacturers Life Insurance Company now owns 24,621 shares of the company’s stock valued at $940,000 after purchasing an additional 487 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in DraftKings by 5.4% during the second quarter. Mackenzie Financial Corp now owns 23,356 shares of the company’s stock valued at $891,000 after purchasing an additional 1,195 shares during the last quarter. Hedge funds and other institutional investors own 37.70% of the company’s stock.

Insider Activity

In related news, insider R Stanton Dodge sold 228,496 shares of DraftKings stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $42.74, for a total transaction of $9,765,919.04. Following the completion of the transaction, the insider now directly owns 541,884 shares of the company’s stock, valued at $23,160,122.16. This trade represents a 29.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul Liberman sold 532,095 shares of DraftKings stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $38.30, for a total transaction of $20,379,238.50. Following the completion of the transaction, the insider now owns 68,654 shares of the company’s stock, valued at $2,629,448.20. This trade represents a 88.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 963,742 shares of company stock worth $38,082,888. 51.19% of the stock is currently owned by corporate insiders.

DraftKings Stock Down 0.4 %

DKNG stock opened at $41.34 on Friday. DraftKings Inc. has a twelve month low of $28.69 and a twelve month high of $49.57. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17. The company has a market cap of $36.41 billion, a PE ratio of -46.98, a price-to-earnings-growth ratio of 3.07 and a beta of 1.90. The business’s 50-day simple moving average is $40.59 and its 200 day simple moving average is $38.09.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.18). The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. On average, research analysts anticipate that DraftKings Inc. will post -0.9 earnings per share for the current year.

Wall Street Analyst Weigh In

DKNG has been the subject of a number of recent research reports. Morgan Stanley raised their price target on DraftKings from $47.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Barclays raised their price objective on shares of DraftKings from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Susquehanna decreased their target price on shares of DraftKings from $56.00 to $54.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. raised their price target on shares of DraftKings from $47.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of DraftKings in a research note on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, DraftKings has a consensus rating of “Moderate Buy” and an average price target of $51.08.

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.