DraftKings (NASDAQ:DKNG) Trading Up 3.5%

DraftKings Inc. (NASDAQ:DKNG)’s share price was up 3.5% during trading on Tuesday . The stock traded as high as $45.40 and last traded at $45.27. Approximately 4,669,838 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 11,766,450 shares. The stock had previously closed at $43.72.

Wall Street Analyst Weigh In

Several equities analysts recently commented on DKNG shares. JMP Securities reiterated a “market outperform” rating and issued a $52.00 target price on shares of DraftKings in a research note on Monday, March 25th. UBS Group upped their target price on DraftKings from $44.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Oppenheimer upped their target price on DraftKings from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Mizuho started coverage on DraftKings in a research note on Tuesday, March 26th. They issued a “buy” rating and a $58.00 target price for the company. Finally, BNP Paribas lowered DraftKings from a “neutral” rating to an “underperform” rating and set a $28.00 target price for the company. in a research note on Friday, January 19th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, DraftKings presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.93.

DraftKings Price Performance

The stock has a market cap of $39.09 billion, a PE ratio of -25.87 and a beta of 1.86. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.34 and a quick ratio of 1.34. The business has a fifty day moving average of $43.81 and a 200 day moving average of $37.67.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings results on Friday, February 16th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.16). The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. DraftKings had a negative net margin of 21.88% and a negative return on equity of 87.24%. The company’s revenue for the quarter was up 43.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.53) EPS. Sell-side analysts anticipate that DraftKings Inc. will post -0.25 earnings per share for the current year.

Insider Activity at DraftKings

In other DraftKings news, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $37.82, for a total transaction of $7,564,000.00. Following the sale, the insider now owns 3,815,698 shares in the company, valued at $144,309,698.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other DraftKings news, insider R Stanton Dodge sold 686,101 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $43.06, for a total transaction of $29,543,509.06. Following the sale, the insider now owns 200,239 shares in the company, valued at $8,622,291.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $37.82, for a total value of $7,564,000.00. Following the sale, the insider now owns 3,815,698 shares in the company, valued at approximately $144,309,698.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,596,101 shares of company stock valued at $65,685,509. Insiders own 51.19% of the company’s stock.

Institutional Trading of DraftKings

Several institutional investors and hedge funds have recently bought and sold shares of the company. Highlander Capital Management LLC raised its position in shares of DraftKings by 180.0% during the 4th quarter. Highlander Capital Management LLC now owns 700 shares of the company’s stock worth $25,000 after purchasing an additional 450 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of DraftKings during the 4th quarter worth approximately $26,000. Parkside Financial Bank & Trust raised its position in shares of DraftKings by 233.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,014 shares of the company’s stock worth $27,000 after purchasing an additional 710 shares during the period. O Dell Group LLC acquired a new stake in shares of DraftKings during the 4th quarter worth approximately $28,000. Finally, Montag A & Associates Inc. acquired a new stake in shares of DraftKings during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

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.