1 week Ago By Defense World Staff
Corebridge Financial Inc. lowered its stake in DraftKings Inc. (NASDAQ:DKNG – Free Report) by 4.
0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,348 shares of the company’s stock after selling 347 shares during the quarter. Corebridge Financial Inc.
’s holdings in DraftKings were worth $311,000 at the end of the most recent quarter. Several other hedge funds also recently bought and sold shares of DKNG. Stonebridge Financial Group LLC acquired a new position in shares of DraftKings in the 4th quarter worth approximately $28,000.
Synergy Asset Management LLC purchased a new stake in DraftKings in the fourth quarter valued at approximately $30,000. Synergy Investment Management LLC acquired a new position in DraftKings during the fourth quarter worth $37,000. YANKCOM Partnership acquired a new position in DraftKings during the fourth quarter worth $48,000.
Finally, Toth Financial Advisory Corp purchased a new position in shares of DraftKings during the fourth quarter worth $58,000. Hedge funds and other institutional investors own 37.70% of the company’s stock.
Insider Transactions at DraftKingsIn other DraftKings news, insider R Stanton Dodge sold 52,777 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $37.62, for a total transaction of $1,985,470.
74. Following the transaction, the insider now directly owns 706,620 shares of the company’s stock, valued at approximately $26,583,044.40.
This trade represents a 6.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Also, insider Paul Liberman sold 643,654 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 682,764 shares of the company’s stock, valued at $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.
Over the last ninety days, insiders have sold 2,575,525 shares of company stock worth $109,441,446. Insiders own 47.08% of the company’s stock.
DraftKings Stock PerformanceShares of DKNG stock opened at $34.73 on Friday. The stock’s 50-day moving average is $40.
25 and its two-hundred day moving average is $39.93. The company has a debt-to-equity ratio of 1.
24, a quick ratio of 1.00 and a current ratio of 0.93.
DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $53.
61. The firm has a market cap of $17.36 billion, a price-to-earnings ratio of -32.
76, a PEG ratio of 1.43 and a beta of 2.16.
DraftKings (NASDAQ:DKNG – Get Free Report) last released its quarterly earnings results 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%. Analysts predict that DraftKings Inc.
will post 0.64 earnings per share for the current year. Analyst Upgrades and DowngradesSeveral equities analysts recently issued reports on the company.
Morgan Stanley increased their target price on DraftKings from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th.
JMP Securities set a $57.00 price target on shares of DraftKings in a research report on Wednesday, April 2nd. Barclays lifted their price objective on shares of DraftKings from $50.
00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Canaccord Genuity Group increased their target price on shares of DraftKings from $54.
00 to $60.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, Stifel Nicolaus boosted their price target on shares of DraftKings from $48.
00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock.
According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $55.04.
Check Out 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.
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(NASDAQ:DKNG – Free Report)..
