Mariner LLC boosted its holdings in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 23.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 241,269 shares of the company's stock after purchasing an additional 46,044 shares during the quarter. Mariner LLC's holdings in DraftKings were worth $8,975,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new stake in shares of DraftKings in the fourth quarter worth $28,000. Synergy Asset Management LLC bought a new stake in DraftKings in the fourth quarter worth about $30,000. Synergy Investment Management LLC acquired a new stake in DraftKings during the 4th quarter worth about $37,000. Westpac Banking Corp acquired a new stake in DraftKings during the 4th quarter worth about $44,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in DraftKings during the 4th quarter worth about $48,000. 37.70% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on DKNG. Stifel Nicolaus decreased their target price on shares of DraftKings from $57.00 to $53.00 and set a "buy" rating for the company in a research note on Tuesday. TD Securities dropped their target price on shares of DraftKings from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Thursday. Benchmark boosted their price objective on shares of DraftKings from $44.00 to $51.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Barclays decreased their target price on shares of DraftKings from $60.00 to $50.00 and set an "overweight" rating on the stock in a research report on Tuesday. Finally, Canaccord Genuity Group lifted their target price on shares of DraftKings from $54.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $54.74.
Get Our Latest Research Report on DKNG
DraftKings Stock Up 1.6 %
Shares of DKNG stock traded up $0.54 during midday trading on Thursday, reaching $34.59. 2,414,096 shares of the stock were exchanged, compared to its average volume of 9,752,257. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $53.61. The company's 50 day moving average is $38.30 and its two-hundred day moving average is $39.58. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24. The firm has a market cap of $30.54 billion, a PE ratio of -32.62, 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 return on equity of 48.13% and a negative net margin of 10.64%. On average, equities research analysts predict that DraftKings Inc. will post 0.64 EPS for the current year.
Insider Activity at DraftKings
In other DraftKings news, insider Matthew Kalish sold 587,585 shares of the company's stock in a transaction dated 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 completion of the sale, the insider now owns 4,118,927 shares in the company, valued at $193,795,515.35. This represents a 12.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $45.00, for a total value of $9,000,000.00. Following the transaction, the insider now directly owns 2,678,613 shares in the company, valued at approximately $120,537,585. The trade was a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,628,302 shares of company stock valued at $111,145,088. 51.19% of the stock is owned by corporate insiders.
DraftKings Company Profile
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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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