1 week Ago By ABMN Staff
Orion Portfolio Solutions LLC lessened its position in shares of DraftKings Inc. ( NASDAQ:DKNG – Free Report ) by 11.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission.
The fund owned 9,699 shares of the company’s stock after selling 1,255 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in DraftKings were worth $361,000 as of its most recent SEC filing. Other hedge funds have also modified their holdings of the company.
Norges Bank purchased a new position in shares of DraftKings in the 4th quarter valued at approximately $276,328,000. Amica Mutual Insurance Co. raised its stake in shares of DraftKings by 9.
5% during the 4th quarter. Amica Mutual Insurance Co. now owns 31,981 shares of the company’s stock worth $1,190,000 after buying an additional 2,764 shares during the last quarter.
WINTON GROUP Ltd raised its position in DraftKings by 12.6% during the fourth quarter. WINTON GROUP Ltd now owns 42,073 shares of the company’s stock worth $1,565,000 after acquiring an additional 4,704 shares during the last quarter.
Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in DraftKings by 3.
6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd.
now owns 519,044 shares of the company’s stock valued at $19,438,000 after buying an additional 18,150 shares in the last quarter. Finally, Korea Investment CORP lifted its position in shares of DraftKings by 95.6% in the fourth quarter.
Korea Investment CORP now owns 307,472 shares of the company’s stock valued at $11,438,000 after acquiring an additional 150,311 shares in the last quarter. 37.70% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth Several brokerages recently issued reports on DKNG. Susquehanna reduced their price objective on shares of DraftKings from $56.00 to $54.
00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Canaccord Genuity Group lifted their price objective on DraftKings from $54.00 to $60.
00 and gave the company a “buy” rating in a research note on Friday, February 14th. TD Cowen reduced their target price on shares of DraftKings from $55.00 to $51.
00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Truist Financial upped their price target on DraftKings from $50.00 to $60.
00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $65.00 price objective on shares of DraftKings in a research report on Monday.
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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.69.
Insider Buying and Selling at DraftKings In other DraftKings news, CFO Alan Wayne Ellingson sold 158,661 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $42.42, for a total value of $6,730,399.
62. Following the completion of the transaction, the chief financial officer now directly owns 179,435 shares in the company, valued at $7,611,632.70.
This trade represents a 46.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link .
Also, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $45.00, for a total transaction of $9,000,000.
00. Following the transaction, the insider now owns 2,678,613 shares in the company, valued at approximately $120,537,585. The trade was a 6.
95 % decrease in their ownership of the stock. The disclosure for this sale can be found here . In the last three months, insiders sold 2,775,525 shares of company stock valued at $117,241,446.
47.08% of the stock is owned by insiders. DraftKings Stock Down 3.
0 % DKNG opened at $31.89 on Wednesday. The company has a debt-to-equity ratio of 1.
24, a current ratio of 0.93 and a quick ratio of 1.00.
DraftKings Inc. has a 12 month low of $28.69 and a 12 month high of $53.
61. The stock’s 50 day moving average price is $40.65 and its 200 day moving average price is $40.
02. The stock has a market cap of $15.94 billion, a P/E ratio of -30.
08, a P/E/G ratio of 1.43 and a beta of 2.16.
DraftKings ( NASDAQ:DKNG – Get Free Report ) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share 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, research analysts predict that DraftKings Inc.
will post 0.64 earnings per share for the current year. DraftKings 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. See Also 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.
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