Bamco Inc. NY grew its stake in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) by 4.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,499,356 shares of the company's stock after acquiring an additional 106,391 shares during the period. Bamco Inc. NY owned 0.51% of DraftKings worth $92,976,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of DKNG. Stonebridge Financial Group LLC acquired a new position in DraftKings during the fourth quarter worth $28,000. Synergy Asset Management LLC acquired a new position in shares of DraftKings during the 4th quarter valued at about $30,000. Synergy Investment Management LLC bought a new position in shares of DraftKings in the 4th quarter valued at approximately $37,000. Westpac Banking Corp acquired a new stake in DraftKings in the 4th quarter worth approximately $44,000. Finally, YANKCOM Partnership bought a new stake in DraftKings during the fourth quarter worth approximately $48,000. Hedge funds and other institutional investors own 37.70% of the company's stock.
DraftKings Price Performance
Shares of NASDAQ:DKNG traded down $0.54 during trading on Tuesday, reaching $33.60. The stock had a trading volume of 8,243,557 shares, compared to its average volume of 9,662,506. The business's 50-day moving average price is $35.89 and its 200 day moving average price is $39.32. DraftKings Inc. has a 52 week low of $28.69 and a 52 week high of $53.61. The stock has a market capitalization of $29.66 billion, a PE ratio of -31.69, a P/E/G ratio of 1.43 and a beta of 1.89. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.93 and a quick ratio of 1.00.
DraftKings (NASDAQ:DKNG - Get Free Report) last issued its quarterly earnings data 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%. As a group, equities analysts predict that DraftKings Inc. will post 0.64 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on DKNG shares. Guggenheim dropped their price target on shares of DraftKings from $62.00 to $61.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Citigroup cut their target price on shares of DraftKings from $65.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, April 25th. BTIG Research decreased their price target on shares of DraftKings from $64.00 to $52.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company lifted their price objective on DraftKings from $53.00 to $60.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Finally, Argus set a $60.00 target price on DraftKings in a research note on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company's stock. According to data from MarketBeat, DraftKings has a consensus rating of "Moderate Buy" and a consensus price target of $54.48.
Get Our Latest Stock Report on DKNG
Insiders Place Their Bets
In other news, insider Jason Robins sold 200,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $45.00, for a total value of $9,000,000.00. Following the transaction, the insider now owns 2,678,613 shares of the company's stock, valued at $120,537,585. This represents a 6.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Matthew Kalish sold 587,585 shares of DraftKings stock in a transaction on Friday, February 21st. The stock was sold at an average price of $47.05, for a total value of $27,645,874.25. Following the sale, the insider now directly owns 4,118,927 shares of the company's stock, valued at approximately $193,795,515.35. This trade represents a 12.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,681,079 shares of company stock valued at $112,941,617. 51.19% of the stock is currently owned by corporate insiders.
DraftKings Profile
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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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