Nvwm LLC Has $720,000 Position in DraftKings Inc. (NASDAQ:DKNG)

Nvwm LLC lifted its stake in DraftKings Inc. (NASDAQ:DKNG) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,343 shares of the company’s stock after buying an additional 312 shares during the period. Nvwm LLC’s holdings in DraftKings were worth $720,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in shares of DraftKings by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,621 shares of the company’s stock worth $940,000 after purchasing an additional 487 shares in the last quarter. Truist Financial Corp boosted its stake in DraftKings by 3.4% in the second quarter. Truist Financial Corp now owns 122,608 shares of the company’s stock worth $4,680,000 after purchasing an additional 3,975 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of DraftKings during the second quarter worth $1,530,000. Park Avenue Securities LLC increased its stake in shares of DraftKings by 77.5% in the third quarter. Park Avenue Securities LLC now owns 34,696 shares of the company’s stock valued at $1,360,000 after buying an additional 15,150 shares in the last quarter. Finally, Diversified Trust Co bought a new position in shares of DraftKings in the third quarter valued at about $2,070,000. 37.70% of the stock is owned by institutional investors and hedge funds.

DraftKings Stock Performance

Shares of DKNG stock opened at $41.75 on Wednesday. The company has a fifty day moving average price of $40.40 and a two-hundred day moving average price of $38.30. DraftKings Inc. has a one year low of $28.69 and a one year high of $49.57. The stock has a market cap of $36.77 billion, a P/E ratio of -47.44, a P/E/G ratio of 3.14 and a beta of 1.93. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.18). DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. As a group, equities analysts predict that DraftKings Inc. will post -0.93 EPS for the current year.

Insider Transactions at DraftKings

In related news, insider Paul Liberman sold 532,095 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 68,654 shares of the company’s stock, valued at approximately $2,629,448.20. This trade represents a 88.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R Stanton Dodge sold 228,496 shares of DraftKings stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $42.74, for a total transaction of $9,765,919.04. Following the completion of the sale, the insider now 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 963,742 shares of company stock worth $38,082,888. Company insiders own 48.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. JMP Securities decreased their price objective on shares of DraftKings from $52.00 to $50.00 and set a “market outperform” rating on the stock in a report on Monday, January 6th. TD Cowen decreased their price target on DraftKings from $55.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday. Susquehanna dropped their price objective on DraftKings from $56.00 to $54.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. BMO Capital Markets reiterated an “outperform” rating and set a $48.00 price target on shares of DraftKings in a research report on Wednesday, October 16th. Finally, Macquarie increased their price objective on shares of DraftKings from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.92.

DraftKings 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.