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DraftKings (NASDAQ:DKNG – Free Report) had its price target raised by Susquehanna from $42.00 to $52.00 in a report published on Monday,Benzinga reports. The firm currently has a positive rating on the stock.
Several other brokerages have also recently issued reports on DKNG. Guggenheim decreased their price objective on DraftKings from $61.00 to $60.00 and set a “buy” rating for the company in a report on Monday. TD Cowen decreased their price target on DraftKings from $55.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Cowen reaffirmed a “buy” rating on shares of DraftKings in a research note on Thursday, April 24th. Canaccord Genuity Group lifted their target price on shares of DraftKings from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Wells Fargo & Company increased their price target on shares of DraftKings from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.04.
Read Our Latest Analysis on DKNG
DraftKings Stock Performance
Shares of NASDAQ DKNG opened at $38.25 on Monday. The company has a 50 day simple moving average of $35.30 and a two-hundred day simple moving average of $39.29. The stock has a market cap of $33.77 billion, a price-to-earnings ratio of -36.08, a PEG ratio of 1.43 and a beta of 1.89. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24. DraftKings has a 12 month low of $28.69 and a 12 month high of $53.61.
DraftKings (NASDAQ:DKNG – Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.35). DraftKings had a negative net margin of 10.64% and a negative return on equity of 48.13%. As a group, analysts predict that DraftKings will post 0.64 earnings per share for the current year.
Insider Activity at DraftKings
In other news, insider R Stanton Dodge sold 52,777 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 601,520 shares of the company’s stock, valued at approximately $19,417,065.60. This trade represents a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jason Robins sold 666,651 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 3,336,195 shares of the company’s stock, valued at approximately $141,521,391.90. This represents a 16.65% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,691,079 shares of company stock valued at $111,885,917. 47.08% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. increased its holdings in shares of DraftKings by 14.6% in the third quarter. Principal Financial Group Inc. now owns 234,768 shares of the company’s stock valued at $9,203,000 after purchasing an additional 29,991 shares during the last quarter. Vestmark Advisory Solutions Inc. boosted its stake in DraftKings by 27.7% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 120,684 shares of the company’s stock worth $4,766,000 after buying an additional 26,164 shares during the last quarter. Bryn Mawr Capital Management LLC purchased a new stake in DraftKings in the 4th quarter valued at $874,000. Highland Capital Management LLC acquired a new stake in shares of DraftKings in the 4th quarter worth $1,086,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of DraftKings by 18.2% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 39,428 shares of the company’s stock worth $1,467,000 after acquiring an additional 6,059 shares during the period. 37.70% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading
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