Amica Mutual Insurance Co. Raises Holdings in DraftKings Inc. (NASDAQ:DKNG)

Amica Mutual Insurance Co. increased its stake in shares of DraftKings Inc. (NASDAQ:DKNG) by 9.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,981 shares of the company’s stock after acquiring an additional 2,764 shares during the period. Amica Mutual Insurance Co.’s holdings in DraftKings were worth $1,190,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. WINTON GROUP Ltd increased its holdings in shares of DraftKings by 12.6% during the 4th quarter. WINTON GROUP Ltd now owns 42,073 shares of the company’s stock valued at $1,565,000 after purchasing an additional 4,704 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in DraftKings by 3.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 519,044 shares of the company’s stock valued at $19,438,000 after buying an additional 18,150 shares during the period. Korea Investment CORP increased its holdings in DraftKings by 95.6% in the fourth quarter. Korea Investment CORP now owns 307,472 shares of the company’s stock valued at $11,438,000 after buying an additional 150,311 shares in the last quarter. Anthracite Investment Company Inc. raised its position in shares of DraftKings by 115.4% in the fourth quarter. Anthracite Investment Company Inc. now owns 60,000 shares of the company’s stock worth $2,232,000 after acquiring an additional 32,150 shares during the period. Finally, Financial Counselors Inc. boosted its stake in shares of DraftKings by 1.3% during the 4th quarter. Financial Counselors Inc. now owns 102,671 shares of the company’s stock worth $3,819,000 after acquiring an additional 1,315 shares in the last quarter. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

DraftKings Trading Down 3.3 %

DKNG opened at $37.68 on Thursday. The business’s 50 day moving average price is $42.14 and its 200 day moving average price is $40.35. 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 capitalization of $18.46 billion, a PE ratio of -35.55, a P/E/G ratio of 1.43 and a beta of 2.07. DraftKings Inc. has a one year low of $28.69 and a one year high of $53.61.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings results 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 return on equity of 48.13% and a negative net margin of 10.64%. As a group, equities research analysts expect that DraftKings Inc. will post 0.64 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Stifel Nicolaus lifted their price target on DraftKings from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. upped their target price on DraftKings from $53.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. JMP Securities reissued a “market outperform” rating and issued a $50.00 price target on shares of DraftKings in a research note on Friday, February 14th. Susquehanna cut their price target on shares of DraftKings from $56.00 to $54.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Finally, Barclays lifted their target price on shares of DraftKings from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, DraftKings has a consensus rating of “Moderate Buy” and an average target price of $54.44.

Insider Transactions at DraftKings

In related news, insider Paul Liberman sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $39.00, for a total transaction of $7,800,000.00. Following the sale, the insider now directly owns 1,342,722 shares of the company’s stock, valued at $52,366,158. This represents a 12.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alan Wayne Ellingson sold 158,661 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $42.42, for a total value of $6,730,399.62. Following the sale, the chief financial officer now directly owns 179,435 shares in the company, valued at $7,611,632.70. This represents a 46.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,131,871 shares of company stock worth $92,171,123. 51.19% of the stock is currently owned by insiders.

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.