American Century Companies Inc. lifted its position in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 92.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,322 shares of the company's stock after buying an additional 20,365 shares during the quarter. American Century Companies Inc.'s holdings in DraftKings were worth $1,574,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new stake in DraftKings in the fourth quarter worth $28,000. Synergy Asset Management LLC acquired a new position in shares of DraftKings during the 4th quarter valued at about $30,000. Synergy Investment Management LLC acquired a new stake in DraftKings in the 4th quarter worth approximately $37,000. YANKCOM Partnership acquired a new position in DraftKings during the fourth quarter valued at approximately $48,000. Finally, Toth Financial Advisory Corp acquired a new position in DraftKings in the 4th quarter valued at $58,000. Institutional investors and hedge funds own 37.70% of the company's stock.
DraftKings Trading Down 2.2 %
NASDAQ DKNG traded down $0.76 on Tuesday, hitting $33.48. The company's stock had a trading volume of 1,773,572 shares, compared to its average volume of 9,764,906. The company's 50-day moving average is $39.94 and its 200 day moving average is $39.84. DraftKings Inc. has a 1-year low of $28.69 and a 1-year high of $53.61. The firm has a market cap of $16.74 billion, a PE ratio of -31.68, a PEG ratio of 1.43 and a beta of 2.16. The company has a quick ratio of 1.00, a current ratio of 0.93 and a debt-to-equity ratio of 1.24.
DraftKings (NASDAQ:DKNG - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) 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, analysts predict that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of research analysts have recently commented on DKNG shares. TD Cowen cut their price objective 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. Guggenheim reduced their target price on DraftKings from $62.00 to $61.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Canaccord Genuity Group raised their price objective on shares of DraftKings from $54.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Susquehanna lowered their price objective on DraftKings from $56.00 to $54.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. Finally, JMP Securities set a $57.00 target price on DraftKings in a research report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $55.04.
Check Out Our Latest Report on DraftKings
Insider Activity at DraftKings
In related news, insider Jason Robins sold 200,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $45.00, for a total value of $9,000,000.00. Following the completion of the sale, the insider now directly owns 2,678,613 shares of the company's stock, valued at $120,537,585. The trade was a 6.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Matthew Kalish sold 587,585 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $47.05, for a total value of $27,645,874.25. Following the completion of the sale, the insider now directly owns 4,118,927 shares of the company's stock, valued at $193,795,515.35. This trade represents a 12.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,575,525 shares of company stock worth $109,441,446 in the last 90 days. Corporate insiders own 51.19% of the company's stock.
About DraftKings
(
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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