Steph & Co. Has $166,000 Holdings in DraftKings Inc. (NASDAQ:DKNG)

Steph & Co. grew its holdings in DraftKings Inc. (NASDAQ:DKNG) by 40.3% in the 4th quarter, Holdings Channel reports. The fund owned 4,470 shares of the company’s stock after purchasing an additional 1,285 shares during the quarter. Steph & Co.’s holdings in DraftKings were worth $166,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. DekaBank Deutsche Girozentrale lifted its position in DraftKings by 159.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 74,849 shares of the company’s stock valued at $2,772,000 after acquiring an additional 46,024 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of DraftKings by 55.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 14,832 shares of the company’s stock valued at $566,000 after purchasing an additional 5,277 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of DraftKings by 8.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,777,271 shares of the company’s stock worth $220,518,000 after buying an additional 441,975 shares during the period. Moors & Cabot Inc. grew its holdings in shares of DraftKings by 4.1% during the second quarter. Moors & Cabot Inc. now owns 27,530 shares of the company’s stock worth $1,051,000 after buying an additional 1,075 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in DraftKings in the 2nd quarter valued at approximately $960,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

DraftKings Trading Down 3.2 %

NASDAQ DKNG opened at $38.72 on Thursday. The firm has a 50-day moving average price of $40.64 and a two-hundred day moving average price of $37.93. DraftKings Inc. has a 12-month low of $28.69 and a 12-month 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 issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share (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 analyst estimates of $1.12 billion. DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. On average, equities analysts predict that DraftKings Inc. will post -0.83 earnings per share for the current year.

Analysts Set New Price Targets

DKNG has been the subject of a number of recent research reports. TD Cowen upped their price target on DraftKings from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Barclays increased their price objective on shares of DraftKings from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Needham & Company LLC restated a “buy” rating and issued a $60.00 price objective on shares of DraftKings in a report on Friday, November 8th. JMP Securities dropped 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. Finally, BMO Capital Markets restated an “outperform” rating and issued a $48.00 price target on shares of DraftKings in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, DraftKings presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.08.

Insider Buying and Selling

In related news, insider Paul Liberman sold 532,095 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $38.30, for a total transaction of $20,379,238.50. Following the sale, the insider now owns 68,654 shares in the company, valued at approximately $2,629,448.20. This trade represents a 88.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider R Stanton Dodge sold 228,496 shares of DraftKings 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 directly owns 541,884 shares in the company, valued at $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 1,052,183 shares of company stock valued at $41,303,025 over the last quarter. 48.94% of the stock is owned by company insiders.

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.