2 weeks Ago By ABMN Staff
DraftKings ( NASDAQ:DKNG – Free Report ) had its target price lowered by Barclays from $60.00 to $50.00 in a research note issued to investors on Tuesday, Benzinga reports.
Barclays currently has an overweight rating on the stock. DKNG has been the subject of a number of other reports. Susquehanna dropped their price target on DraftKings from $56.
00 to $54.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Citigroup reissued an “outperform” rating on shares of DraftKings in a report on Wednesday, April 2nd.
Piper Sandler reaffirmed an “overweight” rating and set a $60.00 price target (up previously from $48.00) on shares of DraftKings in a research note on Tuesday, February 18th.
TD Cowen dropped their price objective on shares of DraftKings from $55.00 to $51.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th.
Finally, JPMorgan Chase & Co. upped their target price on shares of DraftKings from $53.00 to $61.
00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.
com, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.46. Read Our Latest Research Report on DraftKings DraftKings Trading Up 3.
2 % DraftKings ( NASDAQ:DKNG – Get Free Report ) last posted its earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share 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%. Research analysts anticipate that DraftKings will post 0.
64 EPS for the current fiscal year. Insider Transactions at DraftKings In other DraftKings news, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $45.
00, for a total value of $9,000,000.00. Following the transaction, the insider now directly owns 2,678,613 shares of the company’s stock, valued at approximately $120,537,585.
The trade was a 6.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website .
Also, insider Paul Liberman sold 643,654 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $38.95, for a total value of $25,070,323.
30. Following the sale, the insider now owns 682,764 shares of the company’s stock, valued at approximately $26,593,657.80.
This represents a 48.53 % decrease in their position. The disclosure for this sale can be found here .
In the last three months, insiders sold 2,575,525 shares of company stock valued at $109,441,446. Corporate insiders own 51.19% of the company’s stock.
Hedge Funds Weigh In On DraftKings Several hedge funds have recently modified their holdings of DKNG. Raiffeisen Bank International AG purchased a new stake in DraftKings during the 4th quarter worth approximately $25,000. Point72 Asia Singapore Pte.
Ltd. purchased a new stake in shares of DraftKings during the fourth quarter valued at $28,000. Stonebridge Financial Group LLC acquired a new position in shares of DraftKings in the 4th quarter valued at $28,000.
Synergy Asset Management LLC purchased a new position in DraftKings in the 4th quarter worth $30,000. Finally, FNY Investment Advisers LLC acquired a new stake in DraftKings during the 1st quarter worth about $26,000. Institutional investors and hedge funds own 37.
70% of the company’s stock. DraftKings Company Profile ( Get 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. Read More Receive News & Ratings for DraftKings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DraftKings and related companies with MarketBeat.com's FREE daily email newsletter .
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