Atwood & Palmer Inc. Acquires 9,184 Shares of DraftKings Inc. (NASDAQ:DKNG)

Atwood & Palmer Inc. increased its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 1.8% during the fourth quarter, Holdings Channel reports. The fund owned 524,259 shares of the company’s stock after acquiring an additional 9,184 shares during the quarter. Atwood & Palmer Inc.’s holdings in DraftKings were worth $19,502,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Delos Wealth Advisors LLC bought a new position in DraftKings during the third quarter worth $43,000. V Square Quantitative Management LLC bought a new stake in shares of DraftKings during the 3rd quarter worth about $46,000. Creative Financial Designs Inc. ADV grew 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 buying an additional 320 shares during the last quarter. Eastern Bank bought a new position in DraftKings in the 3rd quarter valued at about $59,000. Finally, Quarry LP acquired a new stake in DraftKings during the second quarter worth approximately $87,000. Institutional investors own 37.70% of the company’s stock.

Insiders Place Their Bets

In related news, insider Paul Liberman sold 88,441 shares of DraftKings stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $36.41, for a total transaction of $3,220,136.81. Following the sale, the insider now directly owns 1,923,483 shares in the company, valued at $70,034,016.03. This trade represents a 4.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider R Stanton Dodge sold 228,496 shares of the company’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 transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,052,183 shares of company stock valued at $41,303,025 in the last 90 days. Corporate insiders own 48.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on DKNG shares. JPMorgan Chase & Co. upped their target price on DraftKings from $47.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Susquehanna decreased their price objective on DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Mizuho lifted their target price on DraftKings from $54.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Needham & Company LLC restated a “buy” rating and issued a $60.00 price target on shares of DraftKings in a research note on Friday, November 8th. Finally, Benchmark reiterated a “buy” rating and issued a $44.00 price objective 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.08.

DraftKings Trading Down 1.0 %

DKNG opened at $39.29 on Tuesday. The company has a market cap of $34.60 billion, a P/E ratio of -44.65, a PEG ratio of 2.99 and a beta of 1.90. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17. The company’s 50 day moving average is $40.65 and its 200-day moving average is $37.98. DraftKings Inc. has a 1-year low of $28.69 and a 1-year high of $49.57.

DraftKings (NASDAQ:DKNG) last issued its earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.18). The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.12 billion. DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. Equities research analysts predict that DraftKings Inc. will post -0.83 earnings per share for the current fiscal year.

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.