Midwest Financial Group LLC Has $590,000 Holdings in DraftKings Inc. (NASDAQ:DKNG)

Midwest Financial Group LLC decreased its position in DraftKings Inc. (NASDAQ:DKNG) by 7.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 15,850 shares of the company’s stock after selling 1,200 shares during the period. Midwest Financial Group LLC’s holdings in DraftKings were worth $590,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DKNG. Fred Alger Management LLC lifted its holdings in shares of DraftKings by 46.6% in the third quarter. Fred Alger Management LLC now owns 4,643,852 shares of the company’s stock valued at $182,039,000 after purchasing an additional 1,476,003 shares in the last quarter. AQR Capital Management LLC boosted its position in DraftKings by 29.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,877,581 shares of the company’s stock worth $144,905,000 after acquiring an additional 870,789 shares during the period. FMR LLC grew its stake in DraftKings by 14.7% during the 3rd quarter. FMR LLC now owns 6,467,066 shares of the company’s stock valued at $253,509,000 after acquiring an additional 826,626 shares in the last quarter. Mizuho Securities USA LLC acquired a new position in shares of DraftKings in the 3rd quarter valued at about $28,028,000. Finally, Blue Whale Capital LLP increased its holdings in shares of DraftKings by 59.7% in the 3rd quarter. Blue Whale Capital LLP now owns 1,644,774 shares of the company’s stock valued at $64,475,000 after purchasing an additional 615,011 shares during the period. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

DraftKings Stock Performance

Shares of NASDAQ DKNG opened at $41.82 on Friday. DraftKings Inc. has a 12 month low of $28.69 and a 12 month high of $49.57. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17. The company has a market cap of $36.83 billion, a P/E ratio of -47.51, a P/E/G ratio of 3.07 and a beta of 1.90. The business’s 50 day moving average is $40.56 and its two-hundred day moving average is $38.07.

DraftKings (NASDAQ:DKNG) last released its earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.18). The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. On average, equities analysts expect that DraftKings Inc. will post -0.9 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on DKNG. JMP Securities lowered their price objective on shares of DraftKings from $52.00 to $50.00 and set a “market outperform” rating on the stock in a research report on Monday, January 6th. Needham & Company LLC restated a “buy” rating and set a $60.00 price target on shares of DraftKings in a report on Friday, November 8th. Wells Fargo & Company increased their price objective on DraftKings from $47.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Benchmark restated a “buy” rating and issued a $44.00 target price on shares of DraftKings in a research note on Tuesday, January 7th. Finally, Morgan Stanley boosted their price target on DraftKings from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.08.

Insider Activity

In other news, insider Paul Liberman sold 532,095 shares of DraftKings 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 sale, the insider now directly owns 68,654 shares in the company, valued at approximately $2,629,448.20. The trade was a 88.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider R Stanton Dodge sold 228,496 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 541,884 shares in the company, valued at approximately $23,160,122.16. The trade was a 29.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 963,742 shares of company stock worth $38,082,888. Company insiders own 51.19% of the company’s stock.

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.