Mn Services Vermogensbeheer B.V. Buys 3,500 Shares of DraftKings Inc. (NASDAQ:DKNG)

Mn Services Vermogensbeheer B.V. raised its stake in DraftKings Inc. (NASDAQ:DKNG) by 2.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 168,400 shares of the company’s stock after acquiring an additional 3,500 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in DraftKings were worth $6,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of DKNG. Wealth Enhancement Advisory Services LLC boosted its holdings in DraftKings by 5.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 34,757 shares of the company’s stock valued at $1,362,000 after purchasing an additional 1,782 shares during the period. Nisa Investment Advisors LLC boosted its holdings in DraftKings by 0.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 72,506 shares of the company’s stock valued at $2,842,000 after purchasing an additional 600 shares during the period. New York State Teachers Retirement System boosted its holdings in DraftKings by 5.4% in the 3rd quarter. New York State Teachers Retirement System now owns 40,871 shares of the company’s stock valued at $1,602,000 after purchasing an additional 2,092 shares during the period. US Bancorp DE boosted its holdings in DraftKings by 110.2% in the 3rd quarter. US Bancorp DE now owns 859,715 shares of the company’s stock valued at $33,701,000 after purchasing an additional 450,773 shares during the period. Finally, Creative Financial Designs Inc. ADV boosted its holdings 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 purchasing an additional 320 shares during the period. 37.70% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Alan Wayne Ellingson sold 158,661 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $42.42, for a total value of $6,730,399.62. Following the transaction, the chief financial officer now owns 179,435 shares of the company’s stock, valued at approximately $7,611,632.70. This trade represents a 46.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Liberman sold 532,095 shares of the firm’s stock in a transaction dated 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 completion of 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 2,573,488 shares of company stock valued at $109,600,767. 51.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. TD Cowen dropped their price objective on shares of DraftKings from $55.00 to $51.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Macquarie increased their price objective on shares of DraftKings from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. JMP Securities restated a “market outperform” rating and issued a $50.00 price objective on shares of DraftKings in a research note on Friday, February 14th. Needham & Company LLC set a $65.00 price objective on shares of DraftKings in a research note on Tuesday, February 18th. Finally, Morgan Stanley increased their price objective on shares of DraftKings from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $54.44.

DraftKings Trading Up 2.6 %

DKNG opened at $43.86 on Friday. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $21.49 billion, a PE ratio of -41.38, a PEG ratio of 1.43 and a beta of 1.93. DraftKings Inc. has a 1-year low of $28.69 and a 1-year high of $53.61. The firm has a 50-day moving average price of $41.78 and a two-hundred day moving average price of $39.79.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.35). DraftKings had a negative net margin of 10.64% and a negative return on equity of 48.13%. As a group, equities analysts anticipate that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

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.