NorthCrest Asset Manangement LLC acquired a new position in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,149 shares of the company's stock, valued at approximately $304,000.
Other institutional investors have also recently modified their holdings of the company. Raiffeisen Bank International AG purchased a new position in DraftKings during the fourth quarter worth $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of DraftKings during the fourth quarter valued at $28,000. GPS Wealth Strategies Group LLC increased its position in DraftKings by 197.9% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 849 shares of the company's stock worth $28,000 after purchasing an additional 564 shares in the last quarter. Synergy Investment Management LLC acquired a new position in DraftKings in the 4th quarter valued at about $37,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in DraftKings by 44.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,024 shares of the company's stock valued at $34,000 after purchasing an additional 317 shares during the last quarter. 37.70% of the stock is currently owned by institutional investors and hedge funds.
DraftKings Stock Up 3.9%
NASDAQ DKNG traded up $1.48 on Thursday, reaching $39.60. The company had a trading volume of 10,355,816 shares, compared to its average volume of 9,710,740. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.20 and a quick ratio of 1.20. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $53.61. The firm has a 50-day moving average of $35.27 and a 200-day moving average of $38.55. The firm has a market capitalization of $35.22 billion, a PE ratio of -47.71, a P/E/G ratio of 1.08 and a beta of 1.63.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the stock. Truist Financial lowered their price target on shares of DraftKings from $60.00 to $50.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Northland Securities set a $50.00 target price on shares of DraftKings in a research note on Friday, April 25th. Needham & Company LLC reissued a "buy" rating and set a $65.00 price target on shares of DraftKings in a research note on Friday, May 9th. Benchmark raised their price objective on DraftKings from $44.00 to $51.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of DraftKings in a research note on Friday, June 13th. One 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.com, DraftKings presently has a consensus rating of "Moderate Buy" and an average price target of $54.41.
Check Out Our Latest Report on DraftKings
Insider Buying and Selling
In other DraftKings news, insider Paul Liberman sold 643,654 shares of DraftKings stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $38.95, for a total transaction of $25,070,323.30. Following the sale, the insider now directly owns 682,764 shares in the company, valued at $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 through the SEC website. Also, insider R Stanton Dodge sold 52,777 shares of the company's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $32.28, for a total value of $1,703,641.56. Following the completion of the transaction, the insider now directly owns 601,520 shares in the company, valued at approximately $19,417,065.60. The trade was a 8.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,021,950 shares of company stock valued at $38,644,036 in the last quarter. Company insiders own 51.19% of the company's stock.
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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