Nicholas Investment Partners LP lifted its position in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 154.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,521 shares of the company's stock after acquiring an additional 17,898 shares during the quarter. Nicholas Investment Partners LP's holdings in DraftKings were worth $1,041,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Highlander Capital Management LLC boosted its holdings in DraftKings by 180.0% in the fourth quarter. Highlander Capital Management LLC now owns 700 shares of the company's stock worth $25,000 after purchasing an additional 450 shares during the period. Montag A & Associates Inc. acquired a new position in shares of DraftKings in the 4th quarter valued at about $29,000. FSC Wealth Advisors LLC bought a new stake in shares of DraftKings during the 4th quarter valued at about $37,000. Householder Group Estate & Retirement Specialist LLC raised its stake in DraftKings by 154.2% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 1,215 shares of the company's stock worth $42,000 after acquiring an additional 737 shares during the period. Finally, Acadian Asset Management LLC bought a new position in DraftKings in the third quarter worth about $45,000. 37.70% of the stock is currently owned by institutional investors.
DraftKings Stock Up 2.1 %
NASDAQ DKNG traded up $0.92 during trading on Tuesday, reaching $44.13. The company's stock had a trading volume of 6,177,115 shares, compared to its average volume of 11,439,289. The business has a 50-day moving average price of $43.71 and a 200-day moving average price of $39.71. DraftKings Inc. has a 1-year low of $22.65 and a 1-year high of $49.57. The stock has a market capitalization of $38.36 billion, a PE ratio of -37.40 and a beta of 1.87. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.51.
DraftKings (NASDAQ:DKNG - Get Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.02). DraftKings had a negative return on equity of 62.74% and a negative net margin of 13.45%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the company posted ($0.87) earnings per share. The company's revenue for the quarter was up 52.7% on a year-over-year basis. On average, research analysts forecast that DraftKings Inc. will post -0.19 earnings per share for the current fiscal year.
Insider Activity
In related news, insider Jason Robins sold 200,000 shares of the business's stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $40.91, for a total value of $8,182,000.00. Following the completion of the sale, the insider now directly owns 3,043,231 shares in the company, valued at approximately $124,498,580.21. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 600,000 shares of company stock valued at $24,894,000. Insiders own 48.94% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on DKNG shares. Truist Financial reiterated a "buy" rating and set a $55.00 price target (up from $45.00) on shares of DraftKings in a research report on Tuesday, February 20th. Piper Sandler upped their price target on shares of DraftKings from $40.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 13th. UBS Group increased their price objective on shares of DraftKings from $44.00 to $56.00 and gave the stock a "buy" rating in a report on Tuesday, March 5th. Barclays upped their target price on shares of DraftKings from $52.00 to $54.00 and gave the stock an "overweight" rating in a research report on Monday, May 6th. Finally, Jefferies Financial Group lifted their price target on DraftKings from $52.00 to $54.00 and gave the company a "buy" rating in a report on Monday, May 6th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $49.07.
Read Our Latest Stock 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.
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