Asio Capital LLC bought a new position in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 63,084 shares of the company's stock, valued at approximately $2,095,000.
Other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in DraftKings by 272.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 116,888 shares of the company's stock worth $3,882,000 after acquiring an additional 85,529 shares during the period. NorthCrest Asset Manangement LLC bought a new position in DraftKings during the first quarter worth about $304,000. Net Worth Advisory Group purchased a new position in shares of DraftKings in the first quarter worth about $398,000. GPS Wealth Strategies Group LLC grew its stake in DraftKings by 197.9% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 849 shares of the company's stock valued at $28,000 after buying an additional 564 shares in the last quarter. Finally, Focus Financial Network Inc. bought a new stake in shares of DraftKings during the 1st quarter valued at $208,000. Institutional investors own 37.70% of the company's stock.
DraftKings Stock Up 3.9%
DKNG traded up $1.48 during trading on Wednesday, reaching $39.60. The stock had a trading volume of 10,353,861 shares, compared to its average volume of 9,714,001. DraftKings Inc. has a one year low of $28.69 and a one year high of $53.61. The company has a market capitalization of $35.22 billion, a price-to-earnings ratio of -47.71, a P/E/G ratio of 1.07 and a beta of 1.63. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 2.11. The stock's 50 day moving average is $35.20 and its two-hundred day moving average is $38.55.
Analyst Ratings Changes
Several research analysts have commented on DKNG shares. Piper Sandler reissued an "overweight" rating and issued a $60.00 price target (up from $48.00) on shares of DraftKings in a report on Tuesday, February 18th. Bank of America cut their target price on DraftKings from $60.00 to $50.00 and set a "buy" rating for the company in a research note on Friday, May 9th. JMP Securities reduced their target price on shares of DraftKings from $54.00 to $50.00 and set a "market outperform" rating on the stock in a report on Thursday, June 5th. Sanford C. Bernstein assumed coverage on shares of DraftKings in a research report on Wednesday, June 4th. They set an "outperform" rating and a $46.00 price target for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $65.00 price objective on shares of DraftKings in a research note on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $54.41.
Check Out Our Latest Stock Report on DraftKings
Insiders Place Their Bets
In other DraftKings news, insider R Stanton Dodge sold 52,777 shares of DraftKings stock in a transaction 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 completion of the sale, the insider now owns 601,520 shares of the company's stock, valued at approximately $19,417,065.60. This trade represents a 8.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jocelyn Moore sold 3,136 shares of the business's stock in a transaction on 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 transaction, the director now owns 5,947 shares of the company's stock, valued at $209,810.16. This represents a 34.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,021,950 shares of company stock worth $38,644,036. 47.08% of the stock is currently owned by company insiders.
DraftKings 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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