DraftKings (NASDAQ:DKNG - Free Report) had its price objective lowered by Mizuho from $62.00 to $59.00 in a research note released on Monday morning, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the stock.
DKNG has been the topic of several other research reports. Wells Fargo & Company increased their target price on DraftKings from $53.00 to $60.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Jefferies Financial Group set a $60.00 target price on DraftKings and gave the company a "buy" rating in a research note on Sunday, April 13th. Cowen reissued a "buy" rating on shares of DraftKings in a research report on Thursday, April 24th. Cfra Research upgraded shares of DraftKings to a "moderate buy" rating in a research note on Monday, April 14th. Finally, Argus set a $60.00 target price on shares of DraftKings in a research note on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $54.48.
Check Out Our Latest Analysis on DKNG
DraftKings Stock Up 3.0 %
NASDAQ:DKNG traded up $0.99 during mid-day trading on Monday, reaching $34.25. The company's stock had a trading volume of 8,566,998 shares, compared to its average volume of 9,767,317. The company has a quick ratio of 1.00, a current ratio of 0.93 and a debt-to-equity ratio of 1.24. DraftKings has a 1 year low of $28.69 and a 1 year high of $53.61. The stock has a fifty day moving average of $36.26 and a 200-day moving average of $39.36. The firm has a market capitalization of $30.24 billion, a PE ratio of -32.31, a price-to-earnings-growth ratio of 1.43 and a beta of 2.16.
DraftKings (NASDAQ:DKNG - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate 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 forecast that DraftKings will post 0.64 earnings per share for the current year.
Insider Buying and Selling
In other DraftKings news, CFO Alan Wayne Ellingson sold 158,661 shares of the firm'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 value of $6,730,399.62. Following the sale, the chief financial officer now directly owns 179,435 shares of the company's stock, valued at approximately $7,611,632.70. This trade represents a 46.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R Stanton Dodge sold 52,777 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $32.28, for a total value of $1,703,641.56. Following the transaction, the insider now directly owns 601,520 shares of the company's stock, valued at approximately $19,417,065.60. The trade was a 8.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,628,302 shares of company stock valued at $111,145,088. Corporate insiders own 51.19% of the company's stock.
Institutional Trading of DraftKings
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Forum Financial Management LP purchased a new position in DraftKings in the 1st quarter valued at about $261,000. Dynasty Wealth Management LLC purchased a new position in shares of DraftKings in the first quarter valued at approximately $242,000. Allen Capital Group LLC acquired a new stake in shares of DraftKings in the first quarter worth approximately $297,000. Parcion Private Wealth LLC purchased a new stake in shares of DraftKings during the first quarter worth approximately $409,000. Finally, Victory Capital Management Inc. raised its stake in DraftKings by 17.4% in the 1st quarter. Victory Capital Management Inc. now owns 146,431 shares of the company's stock valued at $4,863,000 after purchasing an additional 21,754 shares during the last quarter. Hedge funds and other institutional investors own 37.70% of the company's stock.
About DraftKings
(
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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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