Campbell Capital Management Inc. Trims Stock Holdings in DraftKings Inc. (NASDAQ:DKNG)


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Campbell Capital Management Inc. reduced its stake in DraftKings Inc. (NASDAQ:DKNG) by 0.9% during the 1st quarter, Holdings Channel reports. The fund owned 26,750 shares of the company’s stock after selling 250 shares during the period. DraftKings comprises about 0.8% of Campbell Capital Management Inc.’s portfolio, making the stock its 29th biggest position. Campbell Capital Management Inc.’s holdings in DraftKings were worth $1,641,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of DKNG. FNY Investment Advisers LLC lifted its position in shares of DraftKings by 172.4% in the fourth quarter. FNY Investment Advisers LLC now owns 550 shares of the company’s stock valued at $25,000 after acquiring an additional 1,310 shares in the last quarter. North Star Investment Management Corp. lifted its position in shares of DraftKings by 88.3% in the fourth quarter. North Star Investment Management Corp. now owns 565 shares of the company’s stock valued at $26,000 after acquiring an additional 265 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of DraftKings by 109.4% in the fourth quarter. Global Retirement Partners LLC now owns 555 shares of the company’s stock valued at $26,000 after acquiring an additional 290 shares in the last quarter. Oder Investment Management LLC purchased a new position in DraftKings during the fourth quarter worth about $28,000. Finally, Global Wealth Management Investment Advisory Inc. lifted its position in DraftKings by 42.1% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 675 shares of the company’s stock worth $31,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 46.50% of the company’s stock.

Shares of DKNG stock traded down $0.54 during trading hours on Thursday, reaching $61.55. The company had a trading volume of 272,009 shares, compared to its average volume of 16,521,604. DraftKings Inc. has a twelve month low of $13.21 and a twelve month high of $74.38. The stock’s fifty day simple moving average is $64.37 and its 200 day simple moving average is $53.99.

DraftKings (NASDAQ:DKNG) last posted its earnings results on Thursday, February 25th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.12). The firm had revenue of $322.00 million during the quarter, compared to analyst estimates of $232.04 million. The firm’s revenue for the quarter was up 68.6% on a year-over-year basis. On average, equities research analysts predict that DraftKings Inc. will post -2.3 EPS for the current year.

Several equities analysts recently weighed in on the company. Piper Sandler increased their target price on DraftKings from $58.00 to $67.00 in a research report on Monday, March 1st. Truist increased their target price on DraftKings from $48.00 to $60.00 in a research report on Thursday, January 14th. Needham & Company LLC reiterated a “buy” rating and set a $80.00 target price on shares of DraftKings in a research report on Monday, March 1st. UBS Group increased their target price on DraftKings from $52.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, March 1st. Finally, Northland Securities increased their target price on DraftKings from $55.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, March 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $65.54.

DraftKings Company Profile

DraftKings Inc operates as a digital sports entertainment and gaming company in the United States. It operates through two segments, Business-to-Consumer and Business-to-Business. The company provides users with daily sports, sports betting, and iGaming opportunities. It is also involved in the design, development, and licensing of sports betting and casino gaming platform software for online and retail sportsbook, and casino gaming products.

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Institutional Ownership by Quarter for DraftKings (NASDAQ:DKNG)

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