Toth Financial Advisory Corp Acquires Shares of 1,552 DraftKings Inc. (NASDAQ:DKNG)

Toth Financial Advisory Corp bought a new position in DraftKings Inc. (NASDAQ:DKNG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,552 shares of the company’s stock, valued at approximately $58,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in DKNG. Geode Capital Management LLC boosted its position in DraftKings by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,985,021 shares of the company’s stock valued at $312,361,000 after buying an additional 284,131 shares during the period. FMR LLC boosted its holdings in shares of DraftKings by 14.7% during the third quarter. FMR LLC now owns 6,467,066 shares of the company’s stock worth $253,509,000 after purchasing an additional 826,626 shares during the period. Fred Alger Management LLC grew its stake in shares of DraftKings by 46.6% in the third quarter. Fred Alger Management LLC now owns 4,643,852 shares of the company’s stock worth $182,039,000 after purchasing an additional 1,476,003 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in shares of DraftKings by 6.8% in the third quarter. Westfield Capital Management Co. LP now owns 3,698,026 shares of the company’s stock worth $144,963,000 after purchasing an additional 236,427 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in DraftKings by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,175,255 shares of the company’s stock valued at $124,470,000 after purchasing an additional 86,336 shares during the last quarter. Institutional investors own 37.70% of the company’s stock.

Analysts Set New Price Targets

DKNG has been the topic of a number of recent analyst reports. Susquehanna cut their price objective on DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. JMP Securities reduced their price objective on shares of DraftKings from $52.00 to $50.00 and set a “market outperform” rating on the stock in a research report on Monday, January 6th. Mizuho raised their target price on shares of DraftKings from $54.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Macquarie lifted their target price on shares of DraftKings from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, Benchmark reissued a “buy” rating and issued a $44.00 price target on shares of DraftKings in a research note on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $51.08.

DraftKings Price Performance

Shares of DKNG opened at $41.34 on Friday. The company has a market capitalization of $36.41 billion, a P/E ratio of -46.98, a price-to-earnings-growth ratio of 3.07 and a beta of 1.90. 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 firm has a 50 day moving average of $40.59 and a 200 day moving average of $38.09.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.18). The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations 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, equities research analysts anticipate that DraftKings Inc. will post -0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Paul Liberman sold 532,095 shares of the business’s 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 directly owns 68,654 shares of the company’s stock, valued at $2,629,448.20. The trade was a 88.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R Stanton Dodge sold 228,496 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 541,884 shares in the company, valued at approximately $23,160,122.16. This trade represents a 29.66 % 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 valued at $38,082,888. 51.19% of the stock is owned by insiders.

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.