Beck Bode LLC Acquires 8,011 Shares of DraftKings Inc. (NASDAQ:DKNG)

Beck Bode LLC boosted its position in DraftKings Inc. (NASDAQ:DKNG) by 14.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 62,801 shares of the company’s stock after acquiring an additional 8,011 shares during the period. Beck Bode LLC’s holdings in DraftKings were worth $2,214,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Highlander Capital Management LLC raised its stake in DraftKings by 180.0% in the 4th quarter. Highlander Capital Management LLC now owns 700 shares of the company’s stock valued at $25,000 after acquiring an additional 450 shares during the period. FSC Wealth Advisors LLC bought a new stake in DraftKings in the 4th quarter valued at about $37,000. Householder Group Estate & Retirement Specialist LLC raised its stake in DraftKings by 154.2% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 1,215 shares of the company’s stock valued at $42,000 after acquiring an additional 737 shares during the period. Acadian Asset Management LLC bought a new stake in DraftKings in the 3rd quarter valued at about $45,000. Finally, CI Investments Inc. raised its stake in DraftKings by 55.9% in the 3rd quarter. CI Investments Inc. now owns 1,671 shares of the company’s stock valued at $49,000 after acquiring an additional 599 shares during the period. 37.70% of the stock is currently owned by institutional investors.

DraftKings Price Performance

NASDAQ DKNG traded down $1.22 during trading hours on Tuesday, reaching $41.56. The company’s stock had a trading volume of 6,761,433 shares, compared to its average volume of 11,522,001. The firm’s 50-day moving average price is $43.51 and its 200-day moving average price is $38.65. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.49. DraftKings Inc. has a 1 year low of $21.07 and a 1 year high of $49.57. The company has a market capitalization of $36.02 billion, a price-to-earnings ratio of -23.75 and a beta of 1.86.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings results on Friday, February 16th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.16). DraftKings had a negative return on equity of 87.24% and a negative net margin of 21.88%. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the prior year, the firm posted ($0.53) earnings per share. The firm’s revenue for the quarter was up 43.9% on a year-over-year basis. On average, equities research analysts predict that DraftKings Inc. will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other DraftKings news, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $40.91, for a total value of $8,182,000.00. Following the sale, the insider now owns 3,043,231 shares of the company’s stock, valued at approximately $124,498,580.21. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other DraftKings news, insider R Stanton Dodge sold 686,101 shares of DraftKings stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $43.06, for a total value of $29,543,509.06. Following the sale, the insider now owns 200,239 shares of the company’s stock, valued at approximately $8,622,291.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $40.91, for a total value of $8,182,000.00. Following the completion of the sale, the insider now directly owns 3,043,231 shares in the company, valued at approximately $124,498,580.21. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,086,101 shares of company stock valued at $45,903,509. Corporate insiders own 51.19% of the company’s stock.

Wall Street Analysts Forecast Growth

DKNG has been the subject of a number of recent analyst reports. Truist Financial reaffirmed a “buy” rating and set a $55.00 target price (up previously from $45.00) on shares of DraftKings in a report on Tuesday, February 20th. BNP Paribas lowered DraftKings from a “neutral” rating to an “underperform” rating and set a $28.00 target price for the company. in a report on Friday, January 19th. JMP Securities reaffirmed a “market outperform” rating and set a $52.00 target price on shares of DraftKings in a report on Monday, March 25th. Benchmark reaffirmed a “buy” rating and set a $50.00 target price on shares of DraftKings in a report on Wednesday, April 24th. Finally, Bank Of America (Bofa) lifted their target price on DraftKings from $45.00 to $50.00 in a report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.38.

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.