111 Capital Purchases New Shares in DraftKings Inc. (NASDAQ:DKNG)

111 Capital purchased a new position in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,771 shares of the company's stock, valued at approximately $438,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raiffeisen Bank International AG bought a new stake in shares of DraftKings during the fourth quarter worth about $25,000. Stonebridge Financial Group LLC bought a new stake in shares of DraftKings during the fourth quarter worth about $28,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of DraftKings during the fourth quarter worth about $28,000. Synergy Asset Management LLC bought a new stake in shares of DraftKings during the fourth quarter worth about $30,000. Finally, Synergy Investment Management LLC bought a new stake in DraftKings in the fourth quarter valued at approximately $37,000. 37.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Bank of America reduced their target price on DraftKings from $60.00 to $50.00 and set a "buy" rating on the stock in a report on Friday, May 9th. BTIG Research reduced their target price on DraftKings from $64.00 to $52.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. upped their target price on DraftKings from $53.00 to $61.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. Barclays reduced their target price on DraftKings from $50.00 to $48.00 and set an "overweight" rating on the stock in a report on Monday, May 12th. Finally, Benchmark upped their target price on DraftKings from $44.00 to $51.00 and gave the company a "buy" rating in a report on Monday, March 10th. One research analyst has 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.com, DraftKings currently has an average rating of "Moderate Buy" and an average price target of $54.96.

Insider Transactions at DraftKings

In other news, 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 transaction of $1,703,641.56. Following the transaction, the insider now directly owns 601,520 shares of the company's stock, valued at $19,417,065.60. This represents a 8.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Liberman sold 643,654 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $38.95, for a total value of $25,070,323.30. Following the transaction, the insider now directly owns 682,764 shares in the company, valued at $26,593,657.80. The trade was a 48.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,130,924 shares of company stock valued at $42,831,450 over the last ninety days. 51.19% of the stock is owned by company insiders.

DraftKings Stock Up 1.7%

Shares of NASDAQ:DKNG traded up $0.59 during trading on Tuesday, reaching $34.32. 9,975,390 shares of the stock were exchanged, compared to its average volume of 9,752,344. 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 Inc. 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 $34.52 and a two-hundred day moving average of $39.00. The firm has a market cap of $30.52 billion, a price-to-earnings ratio of -32.38, a price-to-earnings-growth ratio of 1.43 and a beta of 1.89.

About DraftKings

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.