Proficio Capital Partners LLC acquired a new position in DraftKings Inc. (NASDAQ:DKNG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 78,604 shares of the company's stock, valued at approximately $2,924,000.
Several other hedge funds have also recently made changes to their positions in DKNG. Stonebridge Financial Group LLC bought a new stake in DraftKings in the 4th quarter valued at about $28,000. Synergy Asset Management LLC bought a new stake in DraftKings during the 4th quarter worth approximately $30,000. Delos Wealth Advisors LLC bought a new stake in DraftKings during the 3rd quarter worth approximately $43,000. YANKCOM Partnership bought a new stake in DraftKings during the 4th quarter worth approximately $48,000. Finally, Toth Financial Advisory Corp bought a new stake in DraftKings during the 4th quarter worth approximately $58,000. 37.70% of the stock is owned by institutional investors.
DraftKings Stock Performance
Shares of DraftKings stock traded down $0.69 during trading hours on Friday, reaching $39.41. The company had a trading volume of 20,415,107 shares, compared to its average volume of 9,584,424. DraftKings Inc. has a one year low of $28.69 and a one year high of $53.61. The business has a fifty day simple moving average of $42.06 and a 200 day simple moving average of $40.04. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.93 and a quick ratio of 1.00. The firm has a market cap of $19.31 billion, a PE ratio of -37.18, a price-to-earnings-growth ratio of 1.43 and a beta of 2.07.
DraftKings (NASDAQ:DKNG - Get Free Report) last posted 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, analysts anticipate that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.
Insider Transactions at DraftKings
In related news, insider Matthew Kalish sold 210,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $40.61, for a total value of $8,528,100.00. Following the sale, the insider now owns 4,140,509 shares in the company, valued at approximately $168,146,070.49. This trade represents a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Alan Wayne Ellingson sold 158,661 shares of the stock in a transaction on 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 completion of the sale, the chief financial officer now owns 179,435 shares in the company, valued at $7,611,632.70. This trade represents a 46.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,783,488 shares of company stock valued at $118,128,867 over the last three months. Company insiders own 51.19% of the company's stock.
Analyst Ratings Changes
DKNG has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on DraftKings from $53.00 to $61.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Canaccord Genuity Group boosted their price objective on DraftKings from $54.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Susquehanna decreased their price objective on DraftKings from $56.00 to $54.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Piper Sandler reissued an "overweight" rating and set a $60.00 price objective (up from $48.00) on shares of DraftKings in a report on Tuesday, February 18th. Finally, BTIG Research set a $59.00 price objective on DraftKings in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $54.44.
Check Out Our Latest Analysis on DKNG
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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