Dynasty Wealth Management LLC purchased a new position in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,281 shares of the company's stock, valued at approximately $242,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allen Capital Group LLC acquired a new position in shares of DraftKings in the 1st quarter valued at approximately $297,000. Parcion Private Wealth LLC acquired a new position in shares of DraftKings in the 1st quarter valued at approximately $409,000. Victory Capital Management Inc. raised its position in shares of DraftKings by 17.4% during the 1st quarter. Victory Capital Management Inc. now owns 146,431 shares of the company's stock valued at $4,863,000 after acquiring an additional 21,754 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its position in shares of DraftKings by 1.6% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 226,437 shares of the company's stock valued at $7,520,000 after acquiring an additional 3,457 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in shares of DraftKings by 12.6% during the 1st quarter. Larson Financial Group LLC now owns 58,531 shares of the company's stock valued at $1,944,000 after acquiring an additional 6,541 shares in the last quarter. 37.70% of the stock is owned by institutional investors and hedge funds.
DraftKings Trading Down 0.5%
Shares of NASDAQ DKNG traded down $0.22 during mid-day trading on Friday, hitting $43.72. 4,734,238 shares of the company traded hands, compared to its average volume of 9,722,724. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $53.61. The stock has a market capitalization of $38.88 billion, a price-to-earnings ratio of -52.67, a PEG ratio of 1.38 and a beta of 1.67. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 2.11. The business has a 50 day moving average of $38.97 and a two-hundred day moving average of $38.83.
Insider Buying and Selling
In other news, insider R Stanton Dodge sold 158,331 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $39.00, for a total transaction of $6,174,909.00. Following the completion of the sale, the insider directly owned 504,381 shares of the company's stock, valued at $19,670,859. This represents a 23.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jocelyn Moore sold 3,136 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $35.28, for a total value of $110,638.08. Following the completion of the sale, the director directly owned 5,947 shares of the company's stock, valued at approximately $209,810.16. This represents a 34.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 536,627 shares of company stock valued at $19,748,622. 51.19% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several research firms recently issued reports on DKNG. Jefferies Financial Group dropped their price target on DraftKings from $60.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, July 3rd. Susquehanna upped their price objective on DraftKings from $42.00 to $52.00 and gave the stock a "positive" rating in a research note on Monday, May 12th. Cowen restated a "buy" rating on shares of DraftKings in a research note on Thursday, April 24th. Northland Securities set a $50.00 price objective on DraftKings in a research note on Friday, April 25th. Finally, JMP Securities lowered their price objective on DraftKings from $54.00 to $50.00 and set a "market outperform" rating for the company in a research note on Thursday, June 5th. One investment analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat.com, DraftKings currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.10.
View Our Latest Stock Analysis on DKNG
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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