DraftKings Inc. (NASDAQ:DKNG - Get Free Report)'s share price was up 2.8% during trading on Wednesday . The company traded as high as $38.75 and last traded at $38.40. Approximately 1,632,003 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 6,695,284 shares. The stock had previously closed at $37.36.
Wall Street Analyst Weigh In
DKNG has been the subject of a number of research analyst reports. BNP Paribas upgraded shares of DraftKings from an "underperform" rating to a "neutral" rating and set a $35.00 price target for the company in a research note on Tuesday, September 10th. JMP Securities dropped their price target on shares of DraftKings from $52.00 to $50.00 and set a "market outperform" rating for the company in a research report on Monday. BMO Capital Markets reissued an "outperform" rating and issued a $48.00 price target on shares of DraftKings in a report on Wednesday, October 16th. Needham & Company LLC reaffirmed a "buy" rating and issued a $60.00 target price on shares of DraftKings in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. increased their price target on DraftKings from $47.00 to $53.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $51.08.
Get Our Latest Report on DKNG
DraftKings Stock Up 2.6 %
The firm's 50 day moving average price is $40.32 and its two-hundred day moving average price is $37.90. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $33.77 billion, a PE ratio of -43.58 and a beta of 1.90.
DraftKings (NASDAQ:DKNG - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.18). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.12 billion. DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. As a group, research analysts forecast that DraftKings Inc. will post -0.79 EPS for the current fiscal year.
Insider Transactions at DraftKings
In related news, insider Jason Robins sold 3,151 shares of the company's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $43.71, for a total transaction of $137,730.21. Following the completion of the sale, the insider now directly owns 2,631,033 shares of the company's stock, valued at approximately $115,002,452.43. This represents a 0.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Liberman sold 532,095 shares of the firm's stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $38.30, for a total value of $20,379,238.50. Following the completion of the sale, the insider now directly owns 68,654 shares in the company, valued at $2,629,448.20. This trade represents a 88.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 852,183 shares of company stock valued at $33,503,025 in the last three months. 51.19% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On DraftKings
A number of institutional investors have recently bought and sold shares of DKNG. Candriam S.C.A. acquired a new position in shares of DraftKings in the 2nd quarter worth approximately $757,000. Acadian Asset Management LLC grew its holdings in shares of DraftKings by 1,026.9% during the second quarter. Acadian Asset Management LLC now owns 25,366 shares of the company's stock worth $967,000 after buying an additional 23,115 shares in the last quarter. Ballentine Partners LLC boosted its holdings in DraftKings by 10.7% during the second quarter. Ballentine Partners LLC now owns 6,554 shares of the company's stock worth $250,000 after purchasing an additional 632 shares during the last quarter. Oak Thistle LLC acquired a new stake in shares of DraftKings in the second quarter valued at about $391,000. Finally, PFG Investments LLC boosted its holdings in shares of DraftKings by 25.5% in the 2nd quarter. PFG Investments LLC now owns 29,200 shares of the company's stock valued at $1,115,000 after buying an additional 5,927 shares during the last quarter. Institutional investors and hedge funds own 37.70% of the company's stock.
DraftKings Company Profile
(
Get 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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