DraftKings Inc. (NASDAQ:DKNG) is Granger Management LLC's 6th Largest Position

Granger Management LLC lowered its position in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 93.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,085 shares of the company's stock after selling 279,720 shares during the period. DraftKings accounts for 0.2% of Granger Management LLC's portfolio, making the stock its 6th largest holding. Granger Management LLC's holdings in DraftKings were worth $710,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of DKNG. Pine Valley Investments Ltd Liability Co lifted its holdings in DraftKings by 3.7% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 6,924 shares of the company's stock worth $271,000 after buying an additional 249 shares in the last quarter. Claro Advisors LLC lifted its stake in shares of DraftKings by 1.5% during the fourth quarter. Claro Advisors LLC now owns 18,093 shares of the company's stock valued at $673,000 after acquiring an additional 264 shares during the period. Global Retirement Partners LLC lifted its stake in shares of DraftKings by 0.6% during the third quarter. Global Retirement Partners LLC now owns 47,067 shares of the company's stock valued at $1,845,000 after acquiring an additional 273 shares during the period. Westside Investment Management Inc. boosted its holdings in DraftKings by 0.6% in the fourth quarter. Westside Investment Management Inc. now owns 45,118 shares of the company's stock valued at $1,678,000 after acquiring an additional 288 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV raised its holdings in DraftKings by 36.8% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company's stock worth $47,000 after purchasing an additional 320 shares during the last quarter. Institutional investors own 37.70% of the company's stock.

Insider Buying and Selling at DraftKings

In other news, insider R Stanton Dodge sold 228,496 shares of DraftKings stock in a transaction on Monday, December 9th. The shares were sold at an average price of $42.74, for a total transaction of $9,765,919.04. Following the transaction, the insider now owns 541,884 shares in the company, valued at approximately $23,160,122.16. The trade was a 29.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Liberman sold 88,441 shares of DraftKings stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $36.41, for a total value of $3,220,136.81. Following the transaction, the insider now directly owns 1,923,483 shares in the company, valued at $70,034,016.03. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,052,183 shares of company stock worth $41,303,025 over the last quarter. Corporate insiders own 51.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Barclays lifted their price target on shares of DraftKings from $45.00 to $50.00 and gave the stock an "overweight" rating in a research report on Monday, November 11th. JPMorgan Chase & Co. lifted their target price on shares of DraftKings from $47.00 to $53.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. JMP Securities cut their price target on DraftKings from $52.00 to $50.00 and set a "market outperform" rating on the stock in a research note on Monday, January 6th. Mizuho lifted their price objective on DraftKings from $54.00 to $62.00 and gave the stock an "outperform" rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company increased their target price on DraftKings from $47.00 to $52.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $51.08.

DraftKings Price Performance

DraftKings stock traded up $0.22 during mid-day trading on Thursday, reaching $41.20. 2,501,696 shares of the company were exchanged, compared to its average volume of 8,486,144. The company has a fifty day simple moving average of $40.55 and a 200-day simple moving average of $38.04. The firm has a market cap of $36.28 billion, a PE ratio of -46.81, a PEG ratio of 3.11 and a beta of 1.90. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. DraftKings Inc. has a 12 month low of $28.69 and a 12 month high of $49.57.

DraftKings (NASDAQ:DKNG - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.18). DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. As a group, equities research analysts expect that DraftKings Inc. will post -0.9 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.