DraftKings Inc. (NASDAQ:DKNG) Shares Acquired by Anthracite Investment Company Inc.

Anthracite Investment Company Inc. lifted its stake in shares of DraftKings Inc. (NASDAQ:DKNG) by 115.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,000 shares of the company’s stock after purchasing an additional 32,150 shares during the quarter. Anthracite Investment Company Inc.’s holdings in DraftKings were worth $2,232,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in DKNG. Principal Financial Group Inc. lifted its position in shares of DraftKings by 14.6% in the 3rd quarter. Principal Financial Group Inc. now owns 234,768 shares of the company’s stock valued at $9,203,000 after acquiring an additional 29,991 shares in the last quarter. Vestmark Advisory Solutions Inc. lifted its position in shares of DraftKings by 27.7% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 120,684 shares of the company’s stock worth $4,766,000 after buying an additional 26,164 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in DraftKings by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,175,255 shares of the company’s stock worth $124,470,000 after purchasing an additional 86,336 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in DraftKings by 2.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,480,549 shares of the company’s stock valued at $58,038,000 after buying an additional 35,466 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in shares of DraftKings by 27.7% in the third quarter. Stifel Financial Corp now owns 195,628 shares of the company’s stock valued at $7,669,000 after acquiring an additional 42,431 shares during the period. 37.70% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Jocelyn Moore sold 3,420 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $42.00, for a total value of $143,640.00. Following the sale, the director now owns 1,612 shares in the company, valued at $67,704. This represents a 67.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider R Stanton Dodge sold 52,777 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $37.62, for a total transaction of $1,985,470.74. Following the transaction, the insider now directly owns 706,620 shares of the company’s stock, valued at approximately $26,583,044.40. This trade represents a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,663,966 shares of company stock valued at $112,550,362 in the last ninety days. 51.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DKNG shares. Piper Sandler reaffirmed an “overweight” rating and set a $60.00 price objective (up from $48.00) on shares of DraftKings in a report on Tuesday, February 18th. Cowen reaffirmed a “buy” rating on shares of DraftKings in a research note on Tuesday, February 4th. Needham & Company LLC set a $65.00 target price on shares of DraftKings in a research note on Tuesday, February 18th. JMP Securities reiterated a “market outperform” rating and set a $50.00 price objective on shares of DraftKings in a report on Friday, February 14th. Finally, TD Cowen lowered their target price on DraftKings from $55.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, DraftKings currently has an average rating of “Moderate Buy” and an average target price of $54.44.

DraftKings Stock Down 3.9 %

Shares of DKNG opened at $38.95 on Wednesday. The company’s 50-day moving average price is $42.16 and its 200 day moving average price is $40.37. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24. DraftKings Inc. has a 12-month low of $28.69 and a 12-month high of $53.61. The firm has a market cap of $19.08 billion, a P/E ratio of -36.75, a price-to-earnings-growth ratio of 1.43 and a beta of 2.07.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) earnings per share 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%. On average, sell-side analysts forecast that DraftKings Inc. will post 0.64 earnings per share for the current year.

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.