Portolan Capital Management LLC increased its stake in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 294.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 320,583 shares of the company's stock after buying an additional 239,219 shares during the quarter. Portolan Capital Management LLC owned about 0.07% of DraftKings worth $11,926,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Stonebridge Financial Group LLC bought a new position in DraftKings in the 4th quarter valued at $28,000. Synergy Asset Management LLC purchased a new position in DraftKings in the fourth quarter valued at about $30,000. Synergy Investment Management LLC bought a new position in shares of DraftKings during the 4th quarter worth approximately $37,000. Westpac Banking Corp acquired a new position in shares of DraftKings during the fourth quarter worth $44,000. Finally, YANKCOM Partnership acquired a new position in DraftKings during the 4th quarter valued at about $48,000. 37.70% of the stock is owned by hedge funds and other institutional investors.
DraftKings Price Performance
Shares of NASDAQ DKNG traded down $0.01 during trading on Friday, hitting $33.61. The company had a trading volume of 9,358,074 shares, compared to its average volume of 9,786,775. The firm has a market capitalization of $29.68 billion, a price-to-earnings ratio of -31.71, a price-to-earnings-growth ratio of 1.43 and a beta of 2.16. The stock has a fifty day simple moving average of $39.21 and a two-hundred day simple moving average of $39.68. 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 Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $53.61.
DraftKings (NASDAQ:DKNG - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) earnings per share 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%. On average, research analysts expect that DraftKings Inc. will post 0.64 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the stock. Argus set a $60.00 target price on shares of DraftKings in a research report on Tuesday, February 18th. TD Cowen cut their target price on DraftKings from $55.00 to $51.00 and set a "buy" rating on the stock in a research report on Tuesday, February 4th. Stifel Nicolaus lifted their price target on DraftKings from $48.00 to $57.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Truist Financial increased their price objective on DraftKings from $50.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Finally, BTIG Research set a $59.00 target price on DraftKings in a report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $55.27.
Check Out Our Latest Research Report on DraftKings
Insider Buying and Selling
In other DraftKings news, insider Matthew Kalish sold 587,585 shares of DraftKings stock in a transaction on Friday, February 21st. The stock was sold at an average price of $47.05, for a total value of $27,645,874.25. Following the sale, the insider now owns 4,118,927 shares in the company, valued at $193,795,515.35. The trade was a 12.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alan Wayne Ellingson sold 158,661 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $42.42, for a total value of $6,730,399.62. Following the sale, the chief financial officer now directly owns 179,435 shares of the company's stock, valued at $7,611,632.70. The trade was a 46.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,575,525 shares of company stock worth $109,441,446. 51.19% of the stock is owned by corporate insiders.
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.
Featured Articles
Before you consider DraftKings, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and DraftKings wasn't on the list.
While DraftKings currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Spring 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
