15,885 Shares in DraftKings Inc. (NASDAQ:DKNG) Acquired by 1248 Management LLC

1248 Management LLC bought a new position in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,885 shares of the company's stock, valued at approximately $591,000.

Other large investors also recently made changes to their positions in the company. 3G Capital Partners LP acquired a new position in shares of DraftKings in the 4th quarter valued at approximately $2,790,000. Praetorian PR LLC bought a new position in shares of DraftKings during the fourth quarter worth about $15,252,000. Bienville Capital Management LLC raised its position in DraftKings by 88.7% in the 4th quarter. Bienville Capital Management LLC now owns 521,260 shares of the company's stock valued at $19,391,000 after buying an additional 245,032 shares during the last quarter. Bwcp LP lifted its stake in DraftKings by 23.7% in the 4th quarter. Bwcp LP now owns 492,923 shares of the company's stock valued at $18,337,000 after acquiring an additional 94,582 shares in the last quarter. Finally, JAT Capital Mgmt LP acquired a new position in DraftKings during the 4th quarter worth approximately $8,498,000. Institutional investors and hedge funds own 37.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on DKNG shares. JMP Securities set a $57.00 price target on DraftKings in a research report on Wednesday, April 2nd. TD Securities cut their price objective on DraftKings from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Northland Securities set a $50.00 price objective on shares of DraftKings in a research report on Friday, April 25th. Cfra Research raised shares of DraftKings to a "moderate buy" rating in a research report on Monday, April 14th. Finally, Truist Financial reduced their target price on shares of DraftKings from $60.00 to $50.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company's stock. According to data from MarketBeat, DraftKings presently has a consensus rating of "Moderate Buy" and an average price target of $54.48.

DraftKings Trading Down 0.4 %

NASDAQ:DKNG traded down $0.12 on Monday, hitting $34.13. The stock had a trading volume of 7,357,150 shares, compared to its average volume of 9,688,005. The stock has a market cap of $30.14 billion, a price-to-earnings ratio of -32.20, a PEG ratio of 1.43 and a beta of 1.89. The company has a quick ratio of 1.00, a current ratio of 0.93 and a debt-to-equity ratio of 1.24. The company has a fifty day moving average price of $36.26 and a two-hundred day moving average price of $39.39. DraftKings Inc. has a 1-year low of $28.69 and a 1-year high of $53.61.

DraftKings (NASDAQ:DKNG - Get Free Report) last announced 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%. Equities research analysts expect that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DraftKings news, 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 transaction of $6,730,399.62. Following the sale, the chief financial officer now owns 179,435 shares in the company, valued at approximately $7,611,632.70. This represents a 46.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R Stanton Dodge sold 52,777 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $32.28, for a total transaction of $1,703,641.56. Following the completion of the transaction, the insider now owns 601,520 shares in the company, valued at approximately $19,417,065.60. This trade represents a 8.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,628,302 shares of company stock worth $111,145,088 in the last ninety days. 51.19% of the stock is owned by corporate insiders.

DraftKings Company Profile

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.