Forum Financial Management LP bought a new stake in DraftKings Inc. (NASDAQ:DKNG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,854 shares of the company's stock, valued at approximately $261,000.
A number of other large investors also recently modified their holdings of DKNG. Janus Henderson Group PLC lifted its holdings in shares of DraftKings by 31,346.8% in the fourth quarter. Janus Henderson Group PLC now owns 9,381,853 shares of the company's stock valued at $349,005,000 after purchasing an additional 9,352,019 shares in the last quarter. Norges Bank bought a new stake in DraftKings during the fourth quarter worth $276,328,000. FMR LLC lifted its holdings in DraftKings by 110.6% during the fourth quarter. FMR LLC now owns 13,617,448 shares of the company's stock worth $506,569,000 after acquiring an additional 7,150,382 shares during the period. Eminence Capital LP bought a new stake in DraftKings during the fourth quarter worth $65,255,000. Finally, Fernbridge Capital Management LP bought a new stake in DraftKings during the fourth quarter worth $49,220,000. Institutional investors own 37.70% of the company's stock.
Insiders Place Their Bets
In related news, CFO Alan Wayne Ellingson sold 6,829 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $36.77, for a total transaction of $251,102.33. Following the completion of the transaction, the chief financial officer directly owned 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Matthew Kalish sold 210,000 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $37.83, for a total value of $7,944,300.00. Following the transaction, the insider owned 4,155,130 shares of the company's stock, valued at approximately $157,188,567.90. The trade was a 4.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 536,627 shares of company stock valued at $19,748,622 in the last ninety days. Corporate insiders own 51.19% of the company's stock.
DraftKings Price Performance
DraftKings stock traded down $0.22 during midday trading on Friday, hitting $43.72. 4,734,238 shares of the company's stock were exchanged, compared to its average volume of 9,722,724. DraftKings Inc. has a 52-week low of $28.69 and a 52-week high of $53.61. The stock has a 50-day moving average price of $38.97 and a two-hundred day moving average price of $38.83. The company has a debt-to-equity ratio of 2.11, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market cap of $38.88 billion, a P/E ratio of -52.67, a PEG ratio of 1.38 and a beta of 1.67.
Analyst Ratings Changes
DKNG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. initiated coverage on DraftKings in a report on Monday, June 23rd. They set an "overweight" rating and a $50.00 price target on the stock. Guggenheim dropped their price target on DraftKings from $61.00 to $60.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Citigroup reiterated a "buy" rating on shares of DraftKings in a report on Friday, July 11th. 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 report on Thursday, July 3rd. Finally, Macquarie decreased their target price on DraftKings from $55.00 to $53.00 and set an "outperform" rating for the company in a research report on Monday, May 12th. One analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat.com, DraftKings presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.10.
Check Out Our Latest Research Report on DraftKings
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.
Read More
Before you consider DraftKings, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and DraftKings wasn't on the list.
While DraftKings currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
