Jamison Private Wealth Management Inc. Has $483,000 Stock Holdings in DraftKings Inc. (NASDAQ:DKNG)

Jamison Private Wealth Management Inc. lowered its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,977 shares of the company’s stock after selling 683 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in DraftKings were worth $483,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in DKNG. Delos Wealth Advisors LLC acquired a new position in DraftKings during the 3rd quarter valued at about $43,000. V Square Quantitative Management LLC bought a new position in DraftKings in the third quarter valued at approximately $46,000. Creative Financial Designs Inc. ADV grew its holdings in DraftKings by 36.8% during the 3rd 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. Eastern Bank acquired a new position in shares of DraftKings in the 3rd quarter valued at $59,000. Finally, Toth Financial Advisory Corp bought a new position in shares of DraftKings in the 4th quarter worth $58,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

Insider Activity

In other DraftKings news, insider Jason Robins sold 3,151 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $43.71, for a total transaction of $137,730.21. Following the transaction, the insider now owns 2,631,033 shares in the company, valued at $115,002,452.43. This trade represents a 0.12 % 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 DraftKings 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 sale, the insider now directly owns 541,884 shares of the company’s stock, valued at $23,160,122.16. This represents a 29.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 963,742 shares of company stock valued at $38,082,888 over the last ninety days. 51.19% of the stock is currently owned by company insiders.

DraftKings Stock Performance

Shares of DKNG stock opened at $41.34 on Friday. The stock has a market cap of $36.41 billion, a P/E ratio of -46.98, a P/E/G ratio of 3.07 and a beta of 1.90. The company has a fifty day moving average price of $40.59 and a two-hundred day moving average price of $38.09. DraftKings Inc. has a one year low of $28.69 and a one year high of $49.57. 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 announced its quarterly 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 business had revenue of $1.10 billion for the quarter, compared to analyst estimates 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 analysts predict that DraftKings Inc. will post -0.9 EPS for the current year.

Analysts Set New Price Targets

DKNG has been the topic of a number of recent analyst reports. JMP Securities reduced their target price on DraftKings from $52.00 to $50.00 and set a “market outperform” rating on the stock in a report on Monday, January 6th. Morgan Stanley boosted their price objective on shares of DraftKings from $47.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. BMO Capital Markets reissued an “outperform” rating and set a $48.00 price target on shares of DraftKings in a research report on Wednesday, October 16th. Mizuho upped their price objective on shares of DraftKings from $54.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Finally, TD Cowen lifted their target price on DraftKings from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.08.

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.