2 weeks Ago By Defense World Staff
Townsquare Capital LLC lowered its position in shares of DraftKings Inc. (NASDAQ:DKNG – Free Report) by 3.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC).
The institutional investor owned 11,676 shares of the company’s stock after selling 450 shares during the quarter. Townsquare Capital LLC’s holdings in DraftKings were worth $434,000 as of its most recent SEC filing. A number of other hedge funds have also modified their holdings of DKNG.
Stonebridge Financial Group LLC bought a new position in DraftKings in the 4th quarter worth $28,000. Synergy Asset Management LLC bought a new stake in DraftKings during the 4th quarter valued at approximately $30,000. Synergy Investment Management LLC bought a new position in DraftKings in the 4th quarter worth approximately $37,000.
Westpac Banking Corp purchased a new stake in DraftKings during the 4th quarter valued at approximately $44,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of DraftKings in the fourth quarter worth $48,000. 37.
70% of the stock is currently owned by institutional investors. Insiders Place Their BetsIn related news, CFO Alan Wayne Ellingson sold 158,661 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $42.
42, for a total value of $6,730,399.62. Following the sale, the chief financial officer now owns 179,435 shares in the company, valued at $7,611,632.
70. This represents a 46.93 % decrease in their ownership of the stock.
The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Liberman sold 643,654 shares of DraftKings stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $38.
95, for a total transaction 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. The trade was a 48.53 % decrease in their ownership of the stock.
The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,575,525 shares of company stock valued at $109,441,446. Insiders own 51.
19% of the company’s stock. DraftKings Stock PerformanceDKNG stock opened at $33.61 on Monday.
The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.00 and a current ratio of 0.
93. The firm has a market cap of $29.68 billion, a price-to-earnings ratio of -31.
71, a PEG ratio of 1.43 and a beta of 2.16.
The firm has a 50-day simple moving average of $39.21 and a two-hundred day simple moving average of $39.70.
DraftKings Inc. has a one year low of $28.69 and a one year high of $53.
61. DraftKings (NASDAQ:DKNG – Get Free Report) last issued its quarterly earnings data 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%.
On average, equities analysts forecast that DraftKings Inc. will post 0.64 EPS for the current fiscal year.
Analysts Set New Price TargetsDKNG has been the topic of several research analyst reports. Benchmark boosted their price target on shares of DraftKings from $44.00 to $51.
00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Canaccord Genuity Group lifted their price objective on DraftKings from $54.00 to $60.
00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Susquehanna lowered their target price on DraftKings from $56.00 to $54.
00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price target on shares of DraftKings from $53.
00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Finally, Truist Financial boosted their target price on shares of DraftKings from $50.
00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock.
According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.27.Read Our Latest Stock Analysis on DKNGDraftKings 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.Featured ArticlesFive stocks we like better than DraftKingsWhat Are Dividends? Buy the Best Dividend StocksWith a 60%+ Upside, There’s Plenty to Love About LovesacHow to Choose Top Rated StocksJ.
B. Hunt Transport Overcorrects Into a Buying OpportunityWhat is the Nasdaq? Complete Overview with HistoryAppLovin: Can Record Profits Overcome Market Skepticism?.
