Valeo Financial Advisors LLC Increases Stock Position in DraftKings Inc. (NASDAQ:DKNG)

Valeo Financial Advisors LLC raised its position in DraftKings Inc. (NASDAQ:DKNG – Free Report) by 34.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 8,016 shares of the company’s stock after purchasing an additional 2,068 shares during the quarter. Valeo Financial Advisors LLC’s holdings in DraftKings were worth $298,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Stonebridge Financial Group LLC purchased a new position in DraftKings during the 4th quarter valued at about $28,000. Synergy Asset Management LLC bought a new stake in shares of DraftKings in the 4th quarter worth approximately $30,000. Delos Wealth Advisors LLC purchased a new position in shares of DraftKings during the third quarter valued at approximately $43,000. V Square Quantitative Management LLC bought a new position in shares of DraftKings during the third quarter valued at approximately $46,000. Finally, Creative Financial Designs Inc. ADV lifted its stake in DraftKings by 36.8% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock worth $47,000 after acquiring an additional 320 shares during the period. 37.70% of the stock is owned by institutional investors.

Insider Buying and Selling at DraftKings

In other DraftKings news, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $45.00, for a total transaction of $9,000,000.00. Following the completion of the sale, the insider now directly owns 2,678,613 shares in the company, valued at approximately $120,537,585. The trade was a 6.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R Stanton Dodge sold 228,496 shares of the firm’s stock in a transaction 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,163,742 shares of company stock worth $47,082,888. Company insiders own 51.19% of the company’s stock.

DraftKings Price Performance

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Shares of NASDAQ DKNG opened at $53.49 on Tuesday. The company has a 50 day moving average of $40.76 and a 200 day moving average of $38.89. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17. DraftKings Inc. has a twelve month low of $28.69 and a twelve month high of $53.61. The firm has a market cap of $26.08 billion, a P/E ratio of -60.78, a PEG ratio of 3.18 and a beta of 1.93.

DraftKings (NASDAQ:DKNG – Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.35). DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. As a group, research analysts expect that DraftKings Inc. will post -0.95 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Macquarie boosted their price objective on shares of DraftKings from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. JMP Securities reissued a “market outperform” rating and issued a $50.00 price target on shares of DraftKings in a research note on Friday. Benchmark raised their price objective on shares of DraftKings from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Friday. TD Cowen reduced their target price on DraftKings from $55.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of DraftKings in a research note on Friday. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, DraftKings presently has an average rating of “Moderate Buy” and a consensus target price of $51.64.

Check Out Our Latest Stock Analysis on DraftKings

About DraftKings

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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.