Mosley Wealth Management Takes $220,000 Position in DraftKings Inc. (NASDAQ:DKNG)

Mosley Wealth Management purchased a new position in DraftKings Inc. (NASDAQ:DKNG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,907 shares of the company’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in DraftKings by 14.6% during the 3rd quarter. Principal Financial Group Inc. now owns 234,768 shares of the company’s stock valued at $9,203,000 after buying an additional 29,991 shares during the last quarter. Vestmark Advisory Solutions Inc. raised its stake in shares of DraftKings by 27.7% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 120,684 shares of the company’s stock valued at $4,766,000 after acquiring an additional 26,164 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of DraftKings by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,175,255 shares of the company’s stock worth $124,470,000 after purchasing an additional 86,336 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of DraftKings by 2.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,480,549 shares of the company’s stock worth $58,038,000 after purchasing an additional 35,466 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in DraftKings by 27.7% during the 3rd quarter. Stifel Financial Corp now owns 195,628 shares of the company’s stock valued at $7,669,000 after purchasing an additional 42,431 shares during the period. Institutional investors own 37.70% of the company’s stock.

DraftKings Stock Up 2.7 %

DKNG stock opened at $39.49 on Friday. 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 1-year low of $28.69 and a 1-year high of $53.61. The stock has a market capitalization of $19.35 billion, a P/E ratio of -37.25, a P/E/G ratio of 1.43 and a beta of 2.07. The business has a fifty day moving average price of $42.17 and a 200-day moving average price of $40.27.

DraftKings (NASDAQ:DKNG) 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 10.64% and a negative return on equity of 48.13%. Equities analysts forecast that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DKNG. Argus set a $60.00 price objective on DraftKings in a research report on Tuesday, February 18th. Benchmark lifted their price target on shares of DraftKings from $44.00 to $51.00 and gave the company a “buy” rating in a report on Monday, March 10th. Morgan Stanley raised their target price on shares of DraftKings from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Barclays lifted their target price on shares of DraftKings from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company raised their price objective on shares of DraftKings from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $54.44.

Insider Buying and Selling

In other news, insider Paul Liberman sold 532,095 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $38.30, for a total value of $20,379,238.50. Following the transaction, the insider now directly owns 68,654 shares in the company, valued at $2,629,448.20. This trade represents a 88.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction on Wednesday, February 12th. The stock was 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. The trade was a 6.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,663,966 shares of company stock worth $112,550,362. 51.19% of the stock is owned by insiders.

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.