SIH Partners LLLP Makes New $1.55 Million Investment in DraftKings Inc. (NASDAQ:DKNG)

SIH Partners LLLP acquired a new stake in DraftKings Inc. (NASDAQ:DKNG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 41,623 shares of the company's stock, valued at approximately $1,548,000.

Several other large investors also recently bought and sold shares of DKNG. Norges Bank acquired a new stake in DraftKings in the fourth quarter valued at approximately $276,328,000. FMR LLC grew its position in shares of DraftKings by 110.6% during the fourth quarter. FMR LLC now owns 13,617,448 shares of the company's stock worth $506,569,000 after buying an additional 7,150,382 shares in the last quarter. Baillie Gifford & Co. acquired a new stake in shares of DraftKings during the fourth quarter worth approximately $246,765,000. Contrarius Group Holdings Ltd acquired a new stake in shares of DraftKings during the fourth quarter worth approximately $58,397,000. Finally, Massachusetts Financial Services Co. MA grew its position in shares of DraftKings by 18.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,797,507 shares of the company's stock worth $252,867,000 after buying an additional 1,036,763 shares in the last quarter. Institutional investors and hedge funds own 37.70% of the company's stock.

DraftKings Stock Performance

Shares of NASDAQ DKNG traded down $0.39 during midday trading on Friday, reaching $33.79. 10,415,595 shares of the company traded hands, compared to its average volume of 9,798,324. DraftKings Inc. has a 52 week low of $28.69 and a 52 week high of $53.61. The stock has a 50-day moving average price of $37.56 and a 200 day moving average price of $39.54. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.93 and a quick ratio of 1.00. The company has a market cap of $29.84 billion, a price-to-earnings ratio of -31.88, a PEG ratio of 1.43 and a beta of 2.16.

DraftKings (NASDAQ:DKNG - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) earnings per share 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%. Sell-side analysts anticipate that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DKNG. Wells Fargo & Company raised their price target on shares of DraftKings from $53.00 to $60.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. JMP Securities set a $57.00 price target on shares of DraftKings in a research report on Wednesday, April 2nd. Barclays decreased their price objective on shares of DraftKings from $60.00 to $50.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Stifel Nicolaus decreased their price objective on shares of DraftKings from $57.00 to $53.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of DraftKings from $53.00 to $61.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $54.75.

Insider Buying and Selling

In other news, insider Matthew Kalish sold 587,585 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $47.05, for a total transaction of $27,645,874.25. Following the completion of the transaction, the insider now owns 4,118,927 shares in the company, valued at approximately $193,795,515.35. This trade represents a 12.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider R Stanton Dodge sold 52,777 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $32.28, for a total transaction of $1,703,641.56. Following the completion of the sale, the insider now owns 601,520 shares in the company, valued at $19,417,065.60. The trade was a 8.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,628,302 shares of company stock valued at $111,145,088 over the last three months. Company insiders own 51.19% of the company's stock.

DraftKings 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.