DraftKings Inc. (NASDAQ:DKNG) Shares Sold by Campbell Capital Management Inc.

Campbell Capital Management Inc. lowered its stake in DraftKings Inc. (NASDAQ:DKNG) by 0.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 26,750 shares of the company’s stock after selling 250 shares during the quarter. DraftKings accounts for about 0.8% of Campbell Capital Management Inc.’s portfolio, making the stock its 29th biggest holding. Campbell Capital Management Inc.’s holdings in DraftKings were worth $1,641,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its stake in DraftKings by 1.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,386,231 shares of the company’s stock valued at $902,623,000 after acquiring an additional 195,424 shares during the period. BlackRock Inc. lifted its holdings in DraftKings by 70.2% in the 4th quarter. BlackRock Inc. now owns 7,224,257 shares of the company’s stock valued at $336,362,000 after purchasing an additional 2,980,635 shares in the last quarter. Morgan Stanley lifted its holdings in DraftKings by 106.9% in the 4th quarter. Morgan Stanley now owns 3,382,664 shares of the company’s stock valued at $157,497,000 after purchasing an additional 1,747,764 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in DraftKings by 30.2% in the 4th quarter. Lord Abbett & CO. LLC now owns 2,087,587 shares of the company’s stock valued at $97,198,000 after purchasing an additional 484,468 shares in the last quarter. Finally, Tybourne Capital Management HK Ltd. lifted its holdings in DraftKings by 51.6% in the 4th quarter. Tybourne Capital Management HK Ltd. now owns 1,929,300 shares of the company’s stock valued at $89,828,000 after purchasing an additional 656,600 shares in the last quarter. 46.50% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on the company. Northland Securities raised their price objective on DraftKings from $55.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, March 1st. Macquarie raised their price objective on DraftKings from $71.00 to $73.00 and gave the company an “outperform” rating in a report on Tuesday, March 16th. Jefferies Financial Group restated a “buy” rating and issued a $75.00 price objective (up previously from $73.00) on shares of DraftKings in a report on Tuesday, March 16th. Canaccord Genuity raised their price objective on DraftKings from $65.00 to $80.00 and gave the company a “buy” rating in a report on Monday, March 8th. Finally, Piper Sandler lifted their price target on DraftKings from $58.00 to $67.00 in a report on Monday, March 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have assigned a buy rating to the company. DraftKings presently has an average rating of “Buy” and an average price target of $65.54.

NASDAQ DKNG traded down $0.54 during trading on Thursday, hitting $61.55. The stock had a trading volume of 272,009 shares, compared to its average volume of 16,521,604. The firm has a 50 day moving average price of $64.37 and a 200 day moving average price of $53.99. DraftKings Inc. has a twelve month low of $13.21 and a twelve month high of $74.38.

DraftKings (NASDAQ:DKNG) last released its earnings results on Thursday, February 25th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.12). The business had revenue of $322.00 million during the quarter, compared to the consensus estimate of $232.04 million. DraftKings’s quarterly revenue was up 68.6% compared to the same quarter last year. On average, analysts anticipate that DraftKings Inc. will post -2.3 EPS for the current fiscal year.

DraftKings Profile

DraftKings Inc operates as a digital sports entertainment and gaming company in the United States. It operates through two segments, Business-to-Consumer and Business-to-Business. The company provides users with daily sports, sports betting, and iGaming opportunities. It is also involved in the design, development, and licensing of sports betting and casino gaming platform software for online and retail sportsbook, and casino gaming products.

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Institutional Ownership by Quarter for DraftKings (NASDAQ:DKNG)

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