Jaffetilchin Investment Partners LLC Has $595,000 Stock Position in DraftKings Inc. (NASDAQ:DKNG)

Jaffetilchin Investment Partners LLC lessened its holdings in DraftKings Inc. (NASDAQ:DKNG) by 7.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,992 shares of the company’s stock after selling 1,229 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in DraftKings were worth $595,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in DKNG. The Manufacturers Life Insurance Company boosted its holdings in DraftKings by 4.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 25,660 shares of the company’s stock worth $1,006,000 after acquiring an additional 1,039 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in DraftKings by 34.2% during the third quarter. Quantinno Capital Management LP now owns 16,886 shares of the company’s stock worth $662,000 after purchasing an additional 4,302 shares during the last quarter. Stifel Financial Corp boosted its holdings in DraftKings by 27.7% during the third quarter. Stifel Financial Corp now owns 195,628 shares of the company’s stock worth $7,669,000 after purchasing an additional 42,431 shares during the last quarter. EP Wealth Advisors LLC increased its stake in DraftKings by 17.7% in the 3rd quarter. EP Wealth Advisors LLC now owns 10,221 shares of the company’s stock valued at $401,000 after buying an additional 1,537 shares during the last quarter. Finally, Orion Portfolio Solutions LLC lifted its position in shares of DraftKings by 60.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 10,954 shares of the company’s stock worth $429,000 after buying an additional 4,116 shares in the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

DraftKings Stock Performance

DraftKings stock opened at $34.22 on Friday. DraftKings Inc. has a 1-year low of $28.69 and a 1-year high of $53.61. 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 firm has a market capitalization of $17.11 billion, a PE ratio of -32.28, a price-to-earnings-growth ratio of 1.43 and a beta of 2.16. The firm’s 50 day simple moving average is $40.10 and its 200 day simple moving average is $39.89.

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 the consensus estimate 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, analysts expect that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

Insider Transactions at DraftKings

In other news, CFO Alan Wayne Ellingson sold 158,661 shares of DraftKings stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $42.42, for a total transaction of $6,730,399.62. Following the completion of the sale, the chief financial officer now directly owns 179,435 shares of the company’s stock, valued at approximately $7,611,632.70. The trade was a 46.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jason Robins sold 200,000 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $45.00, for a total value of $9,000,000.00. Following the completion of the transaction, the insider now directly owns 2,678,613 shares in the company, valued at approximately $120,537,585. This represents a 6.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,575,525 shares of company stock valued at $109,441,446. 47.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DKNG shares. Susquehanna reduced their target price on DraftKings from $56.00 to $54.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Argus set a $60.00 price objective on DraftKings in a research note on Tuesday, February 18th. Needham & Company LLC reiterated a “buy” rating and set a $65.00 target price on shares of DraftKings in a research note on Monday, April 7th. TD Cowen reduced their price target on shares of DraftKings from $55.00 to $51.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Finally, Barclays lifted their price objective on shares of DraftKings from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.04.

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.