SRH Advisors LLC acquired a new stake in DraftKings Inc. (NASDAQ:DKNG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,224 shares of the company's stock, valued at approximately $240,000.
Other large investors have also bought and sold shares of the company. Raiffeisen Bank International AG acquired a new stake in shares of DraftKings during the fourth quarter valued at about $25,000. FNY Investment Advisers LLC acquired a new stake in DraftKings during the 1st quarter worth approximately $26,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of DraftKings during the first quarter worth $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of DraftKings during the fourth quarter worth $28,000. Finally, GPS Wealth Strategies Group LLC lifted its holdings in shares of DraftKings by 197.9% during the first quarter. GPS Wealth Strategies Group LLC now owns 849 shares of the company's stock worth $28,000 after purchasing an additional 564 shares during the period. 37.70% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have commented on the company. BTIG Research cut their target price on DraftKings from $64.00 to $52.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Stifel Nicolaus dropped their price target on shares of DraftKings from $53.00 to $51.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Citigroup restated a "buy" rating on shares of DraftKings in a research report on Friday, July 11th. JPMorgan Chase & Co. started coverage on shares of DraftKings in a research report on Monday, June 23rd. They set an "overweight" rating and a $50.00 price target on the stock. Finally, Macquarie cut their target price on DraftKings from $55.00 to $53.00 and set an "outperform" rating on the stock in a research report on Monday, May 12th. One investment analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $54.10.
View Our Latest Analysis on DraftKings
DraftKings Stock Performance
DKNG traded down $0.77 during trading hours on Thursday, hitting $44.05. The stock had a trading volume of 2,943,293 shares, compared to its average volume of 10,349,708. The company's fifty day simple moving average is $39.37 and its 200 day simple moving average is $38.97. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $53.61. The stock has a market cap of $39.17 billion, a PE ratio of -53.07, a price-to-earnings-growth ratio of 1.50 and a beta of 1.67. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 2.11.
Insider Buying and Selling at DraftKings
In other DraftKings news, insider R Stanton Dodge sold 105,554 shares of DraftKings stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $43.53, for a total transaction of $4,594,765.62. Following the completion of the transaction, the insider owned 500,000 shares of the company's stock, valued at $21,765,000. The trade was a 17.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Alan Wayne Ellingson sold 6,829 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $36.77, for a total transaction of $251,102.33. Following the transaction, the chief financial officer directly owned 171,268 shares of the company's stock, valued at approximately $6,297,524.36. This represents a 3.83% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 589,404 shares of company stock worth $22,639,746. 51.19% of the stock is currently owned by company insiders.
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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