21,353 Shares in DraftKings Inc. (NASDAQ:DKNG) Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp bought a new position in shares of DraftKings Inc. (NASDAQ:DKNG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 21,353 shares of the company’s stock, valued at approximately $753,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Highlander Capital Management LLC boosted its holdings in shares of DraftKings by 180.0% in the 4th quarter. Highlander Capital Management LLC now owns 700 shares of the company’s stock worth $25,000 after purchasing an additional 450 shares in the last quarter. FSC Wealth Advisors LLC purchased a new position in shares of DraftKings in the 4th quarter worth about $37,000. Householder Group Estate & Retirement Specialist LLC boosted its holdings in shares of DraftKings by 154.2% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 1,215 shares of the company’s stock worth $42,000 after purchasing an additional 737 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of DraftKings in the 3rd quarter worth about $45,000. Finally, CI Investments Inc. boosted its holdings in shares of DraftKings by 55.9% in the 3rd quarter. CI Investments Inc. now owns 1,671 shares of the company’s stock worth $49,000 after purchasing an additional 599 shares in the last quarter. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

DraftKings Price Performance

NASDAQ DKNG opened at $41.09 on Friday. The business’s fifty day moving average price is $43.57 and its 200-day moving average price is $38.26. The stock has a market capitalization of $35.61 billion, a price-to-earnings ratio of -23.48 and a beta of 1.86. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.34 and a quick ratio of 1.34. DraftKings Inc. has a 1-year low of $20.26 and a 1-year high of $49.57.

DraftKings (NASDAQ:DKNG) last announced its earnings results on Friday, February 16th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.16). DraftKings had a negative return on equity of 87.24% and a negative net margin of 21.88%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the business posted ($0.53) earnings per share. DraftKings’s revenue for the quarter was up 43.9% compared to the same quarter last year. On average, equities analysts predict that DraftKings Inc. will post -0.24 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus upgraded DraftKings from a “hold” rating to a “buy” rating and upped their price objective for the stock from $40.00 to $45.00 in a report on Friday, January 19th. Mizuho initiated coverage on DraftKings in a report on Tuesday, March 26th. They issued a “buy” rating and a $58.00 price objective for the company. Needham & Company LLC boosted their target price on DraftKings from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Benchmark reaffirmed a “buy” rating and set a $50.00 price target on shares of DraftKings in a research report on Wednesday. Finally, Bank Of America (Bofa) upped their price target on DraftKings from $45.00 to $50.00 in a research report on Thursday, February 15th. Two analysts have rated the stock with a sell rating, one has given a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.31.

Insider Buying and Selling

In related news, insider Paul Liberman sold 510,000 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $40.00, for a total value of $20,400,000.00. Following the transaction, the insider now directly owns 2,291,406 shares of the company’s stock, valued at approximately $91,656,240. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Paul Liberman sold 510,000 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $40.00, for a total value of $20,400,000.00. Following the transaction, the insider now directly owns 2,291,406 shares of the company’s stock, valued at approximately $91,656,240. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider R Stanton Dodge sold 686,101 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $43.06, for a total value of $29,543,509.06. Following the sale, the insider now directly owns 200,239 shares in the company, valued at $8,622,291.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,596,101 shares of company stock valued at $66,303,509. 51.19% of the stock is owned by company insiders.

DraftKings 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.