Compass Capital Corp MA ADV Makes New $359,000 Investment in DraftKings Inc. (NASDAQ:DKNG)

Compass Capital Corp MA ADV purchased a new stake in DraftKings Inc. (NASDAQ:DKNG) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 9,649 shares of the company’s stock, valued at approximately $359,000.

Other institutional investors also recently modified their holdings of the company. Concurrent Investment Advisors LLC grew its position in DraftKings by 19.1% in the fourth quarter. Concurrent Investment Advisors LLC now owns 18,224 shares of the company’s stock valued at $678,000 after acquiring an additional 2,927 shares during the last quarter. Bryn Mawr Capital Management LLC acquired a new stake in shares of DraftKings in the 4th quarter valued at approximately $874,000. Private Advisor Group LLC grew its holdings in shares of DraftKings by 28.6% during the 4th quarter. Private Advisor Group LLC now owns 102,544 shares of the company’s stock valued at $3,815,000 after purchasing an additional 22,836 shares during the last quarter. Braun Stacey Associates Inc. grew its holdings in shares of DraftKings by 2.7% during the 4th quarter. Braun Stacey Associates Inc. now owns 302,410 shares of the company’s stock valued at $11,250,000 after purchasing an additional 8,070 shares during the last quarter. Finally, D.A. Davidson & CO. increased its position in DraftKings by 20.7% during the 4th quarter. D.A. Davidson & CO. now owns 28,924 shares of the company’s stock worth $1,076,000 after purchasing an additional 4,952 shares in the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

Insiders Place Their Bets

In other DraftKings news, insider R Stanton Dodge sold 228,496 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $42.74, for a total value 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 represents a 29.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $45.00, for a total value of $9,000,000.00. Following the completion of the sale, the insider now directly owns 2,678,613 shares of the company’s stock, valued at $120,537,585. This trade represents a 6.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,160,591 shares of company stock worth $46,945,158. 51.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on DKNG shares. Benchmark raised their target price on shares of DraftKings from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Truist Financial raised their price objective on DraftKings from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday. TD Cowen lowered their target price on DraftKings from $55.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Stifel Nicolaus lifted their price target on DraftKings from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Macquarie boosted their price target on DraftKings from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, DraftKings presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.69.

DraftKings Stock Down 7.8 %

Shares of DraftKings stock opened at $45.57 on Friday. The firm has a market cap of $22.33 billion, a price-to-earnings ratio of -42.99, a PEG ratio of 1.91 and a beta of 1.93. The stock’s 50-day moving average is $41.41 and its 200 day moving average is $39.28. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.93 and a quick ratio of 1.00. DraftKings Inc. has a one year low of $28.69 and a one year high of $53.61.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.35). DraftKings had a negative return on equity of 48.13% and a negative net margin of 10.64%. Equities research analysts anticipate that DraftKings Inc. will post 0.49 EPS for the current year.

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.