Thoma Capital Management LLC purchased a new position in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 24,238 shares of the company's stock, valued at approximately $902,000. DraftKings comprises approximately 0.6% of Thoma Capital Management LLC's portfolio, making the stock its 22nd largest holding.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vestmark Advisory Solutions Inc. lifted its stake in shares of DraftKings by 27.7% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 120,684 shares of the company's stock worth $4,766,000 after acquiring an additional 26,164 shares during the last quarter. Bryn Mawr Capital Management LLC purchased a new position in DraftKings during the 4th quarter worth $874,000. Highland Capital Management LLC purchased a new position in DraftKings during the 4th quarter worth $1,086,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in DraftKings by 18.2% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 39,428 shares of the company's stock worth $1,467,000 after purchasing an additional 6,059 shares during the period. Finally, Foundations Investment Advisors LLC increased its holdings in DraftKings by 30.4% during the 4th quarter. Foundations Investment Advisors LLC now owns 51,741 shares of the company's stock worth $1,925,000 after purchasing an additional 12,074 shares during the period. 37.70% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other DraftKings news, CFO Alan Wayne Ellingson sold 6,829 shares of DraftKings stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $36.77, for a total transaction of $251,102.33. Following the completion of the sale, the chief financial officer now owns 171,268 shares of the company's stock, valued at approximately $6,297,524.36. The trade was a 3.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jocelyn Moore sold 3,420 shares of DraftKings stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $42.00, for a total value of $143,640.00. Following the sale, the director now directly owns 1,612 shares of the company's stock, valued at approximately $67,704. This represents a 67.97% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,285,011 shares of company stock valued at $49,481,410. 51.19% of the stock is owned by company insiders.
DraftKings Stock Down 0.3%
DKNG stock traded down $0.11 on Friday, hitting $35.49. 10,061,472 shares of the company's stock were exchanged, compared to its average volume of 9,710,903. DraftKings Inc. has a 12-month low of $28.69 and a 12-month high of $53.61. The firm has a 50 day moving average price of $34.73 and a two-hundred day moving average price of $39.15. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.00 and a current ratio of 0.93. The stock has a market cap of $31.56 billion, a P/E ratio of -33.48, a price-to-earnings-growth ratio of 1.43 and a beta of 1.89.
Analysts Set New Price Targets
Several research analysts have commented on DKNG shares. Stifel Nicolaus reduced their price objective on DraftKings from $57.00 to $53.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. BMO Capital Markets restated an "outperform" rating and set a $65.00 price objective on shares of DraftKings in a report on Thursday, April 24th. Macquarie reduced their price objective on DraftKings from $55.00 to $53.00 and set an "outperform" rating on the stock in a report on Monday, May 12th. JMP Securities set a $57.00 price objective on DraftKings in a report on Wednesday, April 2nd. Finally, Susquehanna raised their price objective on DraftKings from $42.00 to $52.00 and gave the stock a "positive" rating in a report on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, DraftKings currently has a consensus rating of "Moderate Buy" and an average target price of $54.96.
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About DraftKings
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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.
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