Allstate Corp bought a new stake in DraftKings Inc. (NASDAQ:DKNG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,844 shares of the company's stock, valued at approximately $478,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in DKNG. Stonebridge Financial Group LLC bought a new stake in shares of DraftKings in the 4th quarter valued at $28,000. Synergy Asset Management LLC bought a new stake in DraftKings during the fourth quarter valued at $30,000. Synergy Investment Management LLC acquired a new stake in DraftKings during the 4th quarter worth about $37,000. Delos Wealth Advisors LLC bought a new position in shares of DraftKings in the 3rd quarter worth about $43,000. Finally, YANKCOM Partnership bought a new position in shares of DraftKings in the 4th quarter worth about $48,000. Institutional investors and hedge funds own 37.70% of the company's stock.
Insider Transactions at DraftKings
In other news, insider Paul Liberman sold 643,654 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $38.95, for a total transaction of $25,070,323.30. Following the completion of the sale, the insider now owns 682,764 shares in the company, valued at $26,593,657.80. This trade represents a 48.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider R Stanton Dodge sold 52,777 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.00, for a total value of $2,058,303.00. Following the completion of the transaction, the insider now owns 653,843 shares in the company, valued at approximately $25,499,877. The trade was a 7.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,775,525 shares of company stock worth $117,241,446 in the last ninety days. Company insiders own 51.19% of the company's stock.
Analyst Upgrades and Downgrades
DKNG has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on DraftKings from $48.00 to $57.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Susquehanna reduced their price objective on shares of DraftKings from $56.00 to $54.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. BTIG Research set a $59.00 target price on shares of DraftKings in a research report on Monday, February 3rd. Barclays increased their target price on shares of DraftKings from $50.00 to $60.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Finally, Cowen reaffirmed a "buy" rating on shares of DraftKings in a research note on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $54.42.
View Our Latest Report on DraftKings
DraftKings Stock Down 2.3 %
NASDAQ:DKNG traded down $0.73 on Friday, hitting $31.67. The stock had a trading volume of 18,103,217 shares, compared to its average volume of 9,651,548. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $53.61. The firm's fifty day simple moving average is $41.21 and its two-hundred day simple moving average is $40.17. 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 cap of $15.83 billion, a P/E ratio of -29.88, a price-to-earnings-growth ratio of 1.43 and a beta of 2.16.
DraftKings (NASDAQ:DKNG - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.35). DraftKings had a negative net margin of 10.64% and a negative return on equity of 48.13%. Analysts predict that DraftKings Inc. will post 0.64 earnings per share for the current year.
DraftKings Profile
(
Free Report)
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.
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