Resona Asset Management Co. Ltd. acquired a new position in DraftKings Inc. (NASDAQ:DKNG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 125,239 shares of the company's stock, valued at approximately $4,670,000.
Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in shares of DraftKings by 14.6% in the 3rd quarter. Principal Financial Group Inc. now owns 234,768 shares of the company's stock worth $9,203,000 after purchasing an additional 29,991 shares during the period. Vestmark Advisory Solutions Inc. boosted its position in DraftKings by 27.7% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 120,684 shares of the company's stock valued at $4,766,000 after acquiring an additional 26,164 shares in the last quarter. Stifel Financial Corp boosted its position in DraftKings by 27.7% during the 3rd quarter. Stifel Financial Corp now owns 195,628 shares of the company's stock valued at $7,669,000 after acquiring an additional 42,431 shares in the last quarter. Bryn Mawr Capital Management LLC purchased a new position in shares of DraftKings in the 4th quarter valued at $874,000. Finally, Highland Capital Management LLC purchased a new stake in shares of DraftKings during the 4th quarter worth $1,086,000. 37.70% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at DraftKings
In related news, insider Paul Liberman sold 643,654 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $38.95, for a total value of $25,070,323.30. Following the sale, the insider now directly owns 682,764 shares in the company, valued at $26,593,657.80. The trade was a 48.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason Robins sold 200,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $45.00, for a total transaction of $9,000,000.00. Following the completion of the sale, the insider now owns 2,678,613 shares in the company, valued at $120,537,585. This represents a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,575,525 shares of company stock worth $109,441,446. Company insiders own 51.19% of the company's stock.
DraftKings Trading Up 0.5 %
Shares of DKNG traded up $0.16 during midday trading on Monday, hitting $34.38. 1,478,558 shares of the stock were exchanged, compared to its average volume of 9,772,972. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.00 and a current ratio of 0.93. The firm has a market cap of $17.19 billion, a P/E ratio of -32.43, a P/E/G ratio of 1.43 and a beta of 2.16. DraftKings Inc. has a 52-week low of $28.69 and a 52-week high of $53.61. The stock has a fifty day simple moving average of $40.10 and a 200 day simple moving average of $39.88.
DraftKings (NASDAQ:DKNG - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate 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, research analysts anticipate that DraftKings Inc. will post 0.64 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. JMP Securities set a $57.00 target price on shares of DraftKings in a report on Wednesday, April 2nd. Needham & Company LLC reiterated a "buy" rating and issued a $65.00 price target on shares of DraftKings in a report on Monday, April 7th. Cowen restated a "buy" rating on shares of DraftKings in a research note on Tuesday, February 4th. Argus set a $60.00 price objective on shares of DraftKings in a research note on Tuesday, February 18th. Finally, TD Cowen decreased their target price 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. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. Based on data from MarketBeat, DraftKings has a consensus rating of "Moderate Buy" and a consensus target price of $55.04.
Get Our Latest Research Report 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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