Consolidated Investment Group LLC lifted its holdings in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) by 17.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,795 shares of the company's stock after purchasing an additional 10,295 shares during the period. Consolidated Investment Group LLC's holdings in DraftKings were worth $2,351,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Raiffeisen Bank International AG bought a new stake in shares of DraftKings during the 4th quarter valued at about $25,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of DraftKings during the 4th quarter valued at about $28,000. FNY Investment Advisers LLC bought a new stake in shares of DraftKings during the 1st quarter valued at about $26,000. GPS Wealth Strategies Group LLC boosted its position in shares of DraftKings by 197.9% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 849 shares of the company's stock valued at $28,000 after purchasing an additional 564 shares in the last quarter. Finally, Synergy Investment Management LLC bought a new position in DraftKings in the fourth quarter worth approximately $37,000. Institutional investors own 37.70% of the company's stock.
DraftKings Stock Performance
Shares of DKNG traded up $0.95 on Monday, reaching $41.46. 8,001,190 shares of the company's stock traded hands, compared to its average volume of 9,687,095. 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 has a market cap of $36.87 billion, a PE ratio of -49.95, a PEG ratio of 1.15 and a beta of 1.63. The stock's 50 day simple moving average is $35.50 and its two-hundred day simple moving average is $38.41. DraftKings Inc. has a 52-week low of $28.69 and a 52-week high of $53.61.
Insider Buying and Selling at DraftKings
In other DraftKings news, CFO Alan Wayne Ellingson sold 6,829 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $36.77, for a total value of $251,102.33. Following the sale, the chief financial officer now directly owns 171,268 shares in the company, valued at $6,297,524.36. The trade was a 3.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul Liberman sold 643,654 shares of the business's stock in a transaction on 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 in the company, valued at approximately $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 a total of 1,180,281 shares of company stock worth $44,818,945 over the last ninety days. 47.08% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
DKNG has been the topic of several recent research reports. Mizuho cut their price target on DraftKings from $59.00 to $58.00 and set an "outperform" rating on the stock in a report on Monday, May 12th. Susquehanna increased their price target on DraftKings from $42.00 to $52.00 and gave the stock a "positive" rating in a report on Monday, May 12th. BMO Capital Markets reiterated an "outperform" rating and issued a $65.00 price target on shares of DraftKings in a report on Thursday, April 24th. TD Securities cut their price target on DraftKings from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Bank of America cut their price target on DraftKings from $60.00 to $50.00 and set a "buy" rating on the stock in a report on Friday, May 9th. One analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat, DraftKings has a consensus rating of "Moderate Buy" and an average target price of $54.03.
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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