Financial Counselors Inc. Buys 909 Shares of DraftKings Inc. (NASDAQ:DKNG)

Financial Counselors Inc. boosted its stake in shares of DraftKings Inc. (NASDAQ:DKNG) by 0.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,356 shares of the company’s stock after acquiring an additional 909 shares during the quarter. Financial Counselors Inc.’s holdings in DraftKings were worth $3,973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. LRI Investments LLC bought a new position in DraftKings during the 1st quarter valued at approximately $33,000. Alta Advisers Ltd purchased a new stake in DraftKings in the second quarter worth $38,000. Redwood Wealth Management Group LLC bought a new stake in DraftKings in the second quarter valued at $39,000. V Square Quantitative Management LLC purchased a new position in DraftKings during the 3rd quarter valued at $46,000. Finally, Creative Financial Designs Inc. ADV raised its holdings in DraftKings by 36.8% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock worth $47,000 after purchasing an additional 320 shares in the last quarter. 37.70% of the stock is currently owned by institutional investors.

DraftKings Price Performance

DKNG opened at $43.03 on Friday. The business has a fifty day moving average of $39.27 and a 200 day moving average of $37.96. 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 stock has a market cap of $37.89 billion, a P/E ratio of -48.90 and a beta of 1.82. DraftKings Inc. has a 52-week low of $28.69 and a 52-week high of $49.57.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.18). The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. As a group, sell-side analysts anticipate that DraftKings Inc. will post -0.79 EPS for the current year.

Insider Activity

In related news, insider Jason Robins sold 3,151 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $43.71, for a total value of $137,730.21. Following the transaction, the insider now directly owns 2,631,033 shares of the company’s stock, valued at $115,002,452.43. This represents a 0.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Liberman sold 88,441 shares of DraftKings stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $36.41, for a total value of $3,220,136.81. Following the sale, the insider now directly owns 1,923,483 shares of the company’s stock, valued at approximately $70,034,016.03. This represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 735,246 shares of company stock worth $29,902,158. Corporate insiders own 51.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on DraftKings from $47.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. BNP Paribas upgraded shares of DraftKings from an “underperform” rating to a “neutral” rating and set a $35.00 target price on the stock in a report on Tuesday, September 10th. UBS Group lifted their price target on shares of DraftKings from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Macquarie upped their price objective on shares of DraftKings from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $48.00 target price (down from $50.00) on shares of DraftKings in a research note on Monday, August 5th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.04.

About DraftKings

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.