Asio Capital LLC purchased a new position in DraftKings Inc. (NASDAQ:DKNG - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 63,084 shares of the company's stock, valued at approximately $2,095,000.
Several other hedge funds also recently bought and sold shares of DKNG. Empowered Funds LLC grew its holdings in DraftKings by 12.9% during the 4th quarter. Empowered Funds LLC now owns 7,724 shares of the company's stock valued at $287,000 after buying an additional 885 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in shares of DraftKings by 2.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 16,414 shares of the company's stock worth $611,000 after buying an additional 387 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of DraftKings during the 4th quarter valued at about $28,000. Van ECK Associates Corp lifted its holdings in shares of DraftKings by 56.5% in the 4th quarter. Van ECK Associates Corp now owns 206,112 shares of the company's stock valued at $7,667,000 after acquiring an additional 74,419 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its position in shares of DraftKings by 40.9% during the 4th quarter. Vontobel Holding Ltd. now owns 82,744 shares of the company's stock valued at $3,078,000 after purchasing an additional 24,036 shares during the last quarter. Institutional investors own 37.70% of the company's stock.
DraftKings Trading Up 3.0%
Shares of DKNG stock traded up $1.11 on Monday, reaching $37.61. 2,297,228 shares of the stock were exchanged, compared to its average volume of 9,729,708. The firm has a 50 day moving average of $35.03 and a two-hundred day moving average of $38.59. The stock has a market cap of $33.45 billion, a P/E ratio of -35.51, a price-to-earnings-growth ratio of 1.43 and a beta of 1.63. 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 Inc. has a 1-year low of $28.69 and a 1-year high of $53.61.
Insiders Place Their Bets
In other news, insider Paul Liberman sold 643,654 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $38.95, for a total value of $25,070,323.30. Following the completion of the sale, the insider now owns 682,764 shares of the company's stock, valued at approximately $26,593,657.80. The trade was a 48.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R Stanton Dodge sold 52,777 shares of the company's stock in a transaction dated 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 completion of the sale, the insider now directly owns 601,520 shares of the company's stock, valued at $19,417,065.60. The trade was a 8.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,021,950 shares of company stock worth $38,644,036 over the last ninety days. 51.19% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on DKNG shares. Needham & Company LLC reiterated a "buy" rating and set a $65.00 price objective on shares of DraftKings in a report on Friday, May 9th. Citigroup reduced their price target 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. JPMorgan Chase & Co. upped their price objective on shares of DraftKings from $53.00 to $61.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. BTIG Research reduced their target price 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. Finally, Morgan Stanley cut their price target on DraftKings from $53.00 to $51.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. One analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $54.41.
Read Our Latest Report on DKNG
About DraftKings
(
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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