PDT Partners LLC Acquires Shares of 12,299 DraftKings Inc. (NASDAQ:DKNG)

PDT Partners LLC acquired a new position in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,299 shares of the company's stock, valued at approximately $458,000.

Several other hedge funds have also recently bought and sold shares of the company. Beacon Pointe Advisors LLC increased its stake in DraftKings by 1.9% in the fourth quarter. Beacon Pointe Advisors LLC now owns 10,699 shares of the company's stock valued at $398,000 after acquiring an additional 203 shares during the last quarter. Claro Advisors LLC boosted its holdings in shares of DraftKings by 1.5% in the 4th quarter. Claro Advisors LLC now owns 18,093 shares of the company's stock valued at $673,000 after purchasing an additional 264 shares in the last quarter. Allworth Financial LP increased its stake in shares of DraftKings by 8.0% in the 4th quarter. Allworth Financial LP now owns 3,659 shares of the company's stock valued at $150,000 after purchasing an additional 271 shares during the last quarter. Westside Investment Management Inc. raised its holdings in shares of DraftKings by 0.6% during the 4th quarter. Westside Investment Management Inc. now owns 45,118 shares of the company's stock worth $1,678,000 after buying an additional 288 shares in the last quarter. Finally, Nvwm LLC lifted its position in shares of DraftKings by 1.6% during the 4th quarter. Nvwm LLC now owns 19,343 shares of the company's stock worth $720,000 after buying an additional 312 shares during the last quarter. 37.70% of the stock is owned by institutional investors.

Insider Activity

In other DraftKings news, insider Jason Robins sold 666,651 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $42.42, for a total transaction of $28,279,335.42. Following the transaction, the insider now owns 3,336,195 shares in the company, valued at approximately $141,521,391.90. This represents a 16.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Matthew Kalish sold 587,585 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $47.05, for a total transaction of $27,645,874.25. Following the sale, the insider now directly owns 4,118,927 shares of the company's stock, valued at approximately $193,795,515.35. The trade was a 12.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,628,302 shares of company stock worth $111,145,088 over the last quarter. 51.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on DKNG. Argus set a $60.00 target price on DraftKings in a research note on Tuesday, February 18th. Northland Securities set a $50.00 price objective on shares of DraftKings in a research note on Friday, April 25th. BMO Capital Markets restated an "outperform" rating and issued a $65.00 target price on shares of DraftKings in a research report on Thursday, April 24th. Mizuho lowered their price target on shares of DraftKings from $62.00 to $59.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Finally, Barclays cut their price objective on DraftKings from $60.00 to $50.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.48.

DraftKings Stock Up 3.0 %

NASDAQ DKNG traded up $0.99 on Friday, hitting $34.25. 8,566,998 shares of the company were exchanged, compared to its average volume of 9,697,359. 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 company has a market cap of $30.24 billion, a PE ratio of -32.31, a PEG ratio of 1.43 and a beta of 1.89. The stock has a fifty day moving average of $36.26 and a 200-day moving average of $39.39. DraftKings Inc. has a 12 month low of $28.69 and a 12 month high of $53.61.

DraftKings (NASDAQ:DKNG - Get Free Report) last released its quarterly earnings data 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%. As a group, analysts forecast that DraftKings Inc. will post 0.64 earnings per share for the current year.

DraftKings Company Profile

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.