DraftKings Inc. (NASDAQ:DKNG - Get Free Report) saw a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 26,920,000 shares, a growth of 21.6% from the January 31st total of 22,140,000 shares. Based on an average daily trading volume, of 9,210,000 shares, the short-interest ratio is currently 2.9 days.
DraftKings Price Performance
Shares of NASDAQ:DKNG traded down $0.69 during trading on Friday, hitting $39.41. 20,415,107 shares of the stock were exchanged, compared to its average volume of 9,584,424. The company has a fifty day moving average price of $42.06 and a two-hundred day moving average price of $40.04. The company has a market cap of $19.31 billion, a PE ratio of -37.18, a P/E/G ratio of 1.43 and a beta of 2.07. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24. DraftKings has a 12-month low of $28.69 and a 12-month high of $53.61.
DraftKings (NASDAQ:DKNG - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) 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, analysts forecast that DraftKings will post 0.64 EPS for the current year.
Insiders Place Their Bets
In other news, insider Matthew Kalish sold 210,000 shares of DraftKings stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $40.61, for a total transaction 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. The trade was a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alan Wayne Ellingson sold 158,661 shares of DraftKings 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 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 in the last ninety days. Insiders own 51.19% of the company's stock.
Institutional Investors Weigh In On DraftKings
A number of institutional investors and hedge funds have recently bought and sold shares of DKNG. Janus Henderson Group PLC raised its holdings in DraftKings by 31,346.8% in the 4th quarter. Janus Henderson Group PLC now owns 9,381,853 shares of the company's stock valued at $349,005,000 after acquiring an additional 9,352,019 shares during the last quarter. Norges Bank acquired a new position in DraftKings in the 4th quarter valued at $276,328,000. FMR LLC raised its holdings in DraftKings by 110.6% in the 4th quarter. FMR LLC now owns 13,617,448 shares of the company's stock valued at $506,569,000 after acquiring an additional 7,150,382 shares during the last quarter. Baillie Gifford & Co. acquired a new position in DraftKings in the 4th quarter valued at $246,765,000. Finally, Eminence Capital LP acquired a new position in DraftKings in the 4th quarter valued at $65,255,000. Hedge funds and other institutional investors own 37.70% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Needham & Company LLC set a $65.00 target price on DraftKings in a research report on Tuesday, February 18th. Argus set a $60.00 price target on DraftKings in a research report on Tuesday, February 18th. Macquarie boosted their price target on DraftKings from $50.00 to $51.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. Barclays boosted their price target on DraftKings from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Finally, Susquehanna dropped their price target on DraftKings from $56.00 to $54.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.44.
View Our Latest Stock Report on DKNG
DraftKings Company Profile
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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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