Anomaly Capital Management LP acquired a new position in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,282,932 shares of the company's stock, valued at approximately $47,725,000. DraftKings comprises about 1.4% of Anomaly Capital Management LP's portfolio, making the stock its 24th biggest holding. Anomaly Capital Management LP owned 0.26% of DraftKings as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new position in DraftKings during the fourth quarter worth about $28,000. Synergy Asset Management LLC bought a new position in shares of DraftKings during the 4th quarter worth approximately $30,000. Synergy Investment Management LLC purchased a new position in shares of DraftKings in the 4th quarter worth approximately $37,000. Westpac Banking Corp bought a new position in shares of DraftKings in the fourth quarter valued at approximately $44,000. Finally, YANKCOM Partnership purchased a new stake in shares of DraftKings during the fourth quarter valued at approximately $48,000. Institutional investors own 37.70% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on DKNG shares. Morgan Stanley upped their price objective on DraftKings from $49.00 to $53.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Cowen restated a "buy" rating on shares of DraftKings in a research report on Thursday. JMP Securities set a $57.00 price objective on shares of DraftKings in a research report on Wednesday, April 2nd. Benchmark increased their target price on shares of DraftKings from $44.00 to $51.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Finally, Canaccord Genuity Group lifted their price target on shares of DraftKings from $54.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Three analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $54.75.
Check Out Our Latest Research Report on DraftKings
Insider Activity
In related news, Director Jocelyn Moore sold 3,420 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $42.00, for a total transaction of $143,640.00. Following the transaction, the director now directly owns 1,612 shares of the company's stock, valued at approximately $67,704. This trade represents a 67.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jason Robins sold 666,651 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $42.42, for a total transaction of $28,279,335.42. Following the completion of the sale, the insider now owns 3,336,195 shares of the company's stock, valued at approximately $141,521,391.90. The trade was a 16.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,628,302 shares of company stock worth $111,145,088. 51.19% of the stock is currently owned by corporate insiders.
DraftKings Price Performance
DraftKings stock traded down $0.39 during midday trading on Friday, hitting $33.79. 10,415,595 shares of the company's stock were exchanged, compared to its average volume of 9,798,324. The stock has a 50-day moving average price of $37.56 and a two-hundred day moving average price of $39.54. DraftKings Inc. has a 52-week low of $28.69 and a 52-week high of $53.61. The company has a market cap of $29.84 billion, a P/E ratio of -31.88, a PEG ratio of 1.43 and a beta of 2.16. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.00 and a current ratio of 0.93.
DraftKings (NASDAQ:DKNG - Get Free Report) last posted 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, equities research analysts forecast that DraftKings Inc. will post 0.64 earnings per share for the current year.
DraftKings Company 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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