Cohen Investment Advisors LLC Grows Holdings in DraftKings Inc. (NASDAQ:DKNG)

Cohen Investment Advisors LLC grew its stake in DraftKings Inc. (NASDAQ:DKNG) by 1.5% during the fourth quarter, HoldingsChannel reports. The firm owned 71,949 shares of the company’s stock after purchasing an additional 1,079 shares during the quarter. DraftKings comprises approximately 1.6% of Cohen Investment Advisors LLC’s portfolio, making the stock its 27th biggest holding. Cohen Investment Advisors LLC’s holdings in DraftKings were worth $2,677,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Pine Valley Investments Ltd Liability Co grew its position in DraftKings by 3.7% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 6,924 shares of the company’s stock worth $271,000 after buying an additional 249 shares during the period. Claro Advisors LLC boosted its stake in shares of DraftKings by 1.5% during the 4th quarter. Claro Advisors LLC now owns 18,093 shares of the company’s stock worth $673,000 after acquiring an additional 264 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of DraftKings by 0.6% in the 3rd quarter. Global Retirement Partners LLC now owns 47,067 shares of the company’s stock worth $1,845,000 after acquiring an additional 273 shares during the period. Creative Financial Designs Inc. ADV increased its stake in DraftKings by 36.8% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock valued at $47,000 after purchasing an additional 320 shares in the last quarter. Finally, Smith Thornton Advisors LLC raised its holdings in DraftKings by 3.9% during the third quarter. Smith Thornton Advisors LLC now owns 9,552 shares of the company’s stock worth $374,000 after purchasing an additional 360 shares during the last quarter. Hedge funds and other institutional investors own 37.70% of the company’s stock.

DraftKings Stock Up 2.5 %

Shares of DKNG opened at $39.68 on Friday. DraftKings Inc. has a one year low of $28.69 and a one year high of $49.57. The stock’s fifty day moving average is $40.65 and its 200-day moving average is $37.94. 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 released 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). The company had revenue of $1.10 billion for 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%. Analysts forecast that DraftKings Inc. will post -0.83 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on DKNG. Needham & Company LLC reissued a “buy” rating and issued a $60.00 target price on shares of DraftKings in a report on Friday, November 8th. Benchmark restated a “buy” rating and set a $44.00 target price on shares of DraftKings in a report on Tuesday, January 7th. Mizuho lifted 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. JPMorgan Chase & Co. increased their price target on shares of DraftKings from $47.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Finally, Susquehanna reduced their target price on DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.08.

Insider Buying and Selling

In related news, insider R Stanton Dodge sold 228,496 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $42.74, for a total value of $9,765,919.04. Following the completion of the transaction, the insider now owns 541,884 shares of the company’s stock, valued at approximately $23,160,122.16. This trade represents a 29.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul Liberman sold 88,441 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $36.41, for a total value of $3,220,136.81. Following the completion of the sale, the insider now owns 1,923,483 shares of the company’s stock, valued at $70,034,016.03. The trade was a 4.40 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,052,183 shares of company stock worth $41,303,025. Corporate insiders own 48.94% of the company’s stock.

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.