JAT Capital Mgmt LP acquired a new stake in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 228,435 shares of the company's stock, valued at approximately $8,498,000. DraftKings makes up 1.3% of JAT Capital Mgmt LP's portfolio, making the stock its 20th biggest position.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new stake in shares of DraftKings in the fourth quarter valued at about $28,000. Synergy Asset Management LLC acquired a new stake in DraftKings during the 4th quarter valued at approximately $30,000. Synergy Investment Management LLC acquired a new position in shares of DraftKings in the 4th quarter worth approximately $37,000. Westpac Banking Corp bought a new stake in shares of DraftKings in the 4th quarter valued at $44,000. Finally, YANKCOM Partnership acquired a new stake in shares of DraftKings during the fourth quarter worth $48,000. Institutional investors own 37.70% of the company's stock.
Insider Buying and Selling at DraftKings
In other news, insider R Stanton Dodge sold 52,777 shares of the firm's stock in a transaction on Monday, April 21st. The stock was 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 of the company's stock, valued at $19,417,065.60. This trade represents a 8.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason Robins sold 666,651 shares of DraftKings stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $42.42, for a total value of $28,279,335.42. Following the completion of the transaction, the insider now owns 3,336,195 shares of the company's stock, valued at approximately $141,521,391.90. This trade represents a 16.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,628,302 shares of company stock valued at $111,145,088 over the last three months. 51.19% of the stock is currently owned by insiders.
DraftKings Stock Performance
Shares of DKNG stock traded down $0.20 during trading hours on Monday, hitting $34.05. 3,882,510 shares of the company were exchanged, compared to its average volume of 10,663,337. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $30.07 billion, a price-to-earnings ratio of -32.13, a P/E/G ratio of 1.43 and a beta of 1.89. The firm has a fifty day simple moving average of $36.26 and a 200 day simple moving average of $39.39. DraftKings Inc. has a 52-week low of $28.69 and a 52-week high of $53.61.
DraftKings (NASDAQ:DKNG - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.35). DraftKings had a negative return on equity of 48.13% and a negative net margin of 10.64%. Research analysts predict that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research firms have recently weighed in on DKNG. Benchmark lifted their price objective on DraftKings from $44.00 to $51.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Guggenheim dropped their price target on DraftKings from $62.00 to $61.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Argus set a $60.00 price objective on shares of DraftKings in a research report on Tuesday, February 18th. Canaccord Genuity Group boosted their target price on shares of DraftKings from $54.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Finally, BTIG Research reduced their price target 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. Three equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.48.
View Our Latest Analysis on DKNG
DraftKings Company Profile
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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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