102,211 Shares in DraftKings Inc. (NASDAQ:DKNG) Acquired by Monimus Capital Management LP

Monimus Capital Management LP acquired a new position in DraftKings Inc. (NASDAQ:DKNG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 102,211 shares of the company’s stock, valued at approximately $3,802,000. DraftKings comprises about 3.6% of Monimus Capital Management LP’s holdings, making the stock its 8th biggest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in DKNG. Stonebridge Financial Group LLC purchased a new position in shares of DraftKings in the fourth quarter worth approximately $28,000. Synergy Asset Management LLC purchased a new position in DraftKings during the fourth quarter valued at approximately $30,000. Synergy Investment Management LLC purchased a new position in DraftKings during the fourth quarter valued at approximately $37,000. Delos Wealth Advisors LLC purchased a new position in DraftKings during the third quarter valued at approximately $43,000. Finally, YANKCOM Partnership purchased a new position in DraftKings during the fourth quarter valued at approximately $48,000. Hedge funds and other institutional investors own 37.70% of the company’s stock.

Insider Transactions at DraftKings

In related news, insider Matthew Kalish sold 210,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $40.61, for a total value of $8,528,100.00. Following the completion of the sale, the insider now directly owns 4,140,509 shares of the company’s stock, valued at $168,146,070.49. This represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jocelyn Moore sold 3,420 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $42.00, for a total transaction of $143,640.00. Following the completion of the sale, the director now directly owns 1,612 shares of the company’s stock, valued at approximately $67,704. This trade represents a 67.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,558,412 shares of company stock worth $108,506,588. Insiders own 51.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on DKNG. Canaccord Genuity Group lifted their price target on shares of DraftKings from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, February 14th. Argus set a $60.00 target price on shares of DraftKings in a report on Tuesday, February 18th. BTIG Research set a $59.00 target price on shares of DraftKings in a report on Monday, February 3rd. Truist Financial boosted their target price on shares of DraftKings from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, JMP Securities reissued a “market outperform” rating and issued a $50.00 target price on shares of DraftKings in a report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.44.

DraftKings Trading Up 2.4 %

NASDAQ DKNG opened at $37.87 on Friday. The company’s 50-day moving average price is $42.14 and its 200-day moving average price is $40.09. 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 cap of $18.55 billion, a PE ratio of -35.73, a PEG ratio of 1.43 and a beta of 2.07. DraftKings Inc. has a 12 month low of $28.69 and a 12 month high of $53.61.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.35). DraftKings had a negative return on equity of 48.13% and a negative net margin of 10.64%. Equities research analysts forecast that DraftKings Inc. will post 0.64 earnings per share for the current year.

DraftKings Company 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.