Capital CS Group LLC Takes Position in DraftKings Inc. (NASDAQ:DKNG)

Capital CS Group LLC acquired a new position in DraftKings Inc. (NASDAQ:DKNGFree Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 15,462 shares of the company’s stock, valued at approximately $545,000. DraftKings accounts for 0.6% of Capital CS Group LLC’s portfolio, making the stock its 19th largest holding.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in DraftKings by 0.3% in the third quarter. Vanguard Group Inc. now owns 37,038,159 shares of the company’s stock worth $1,090,403,000 after acquiring an additional 109,406 shares during the period. Whale Rock Capital Management LLC acquired a new position in DraftKings during the second quarter worth $215,687,000. Jericho Capital Asset Management L.P. lifted its stake in DraftKings by 39.4% during the third quarter. Jericho Capital Asset Management L.P. now owns 7,153,967 shares of the company’s stock worth $210,613,000 after purchasing an additional 2,022,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in DraftKings by 8.9% during the second quarter. Geode Capital Management LLC now owns 6,493,912 shares of the company’s stock worth $172,543,000 after purchasing an additional 531,875 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new position in DraftKings during the first quarter worth $102,351,000. 32.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at DraftKings

In other DraftKings news, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction that occurred on Monday, January 22nd. The stock was 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 of the company’s stock, valued at approximately $144,309,698.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jason Robins sold 200,000 shares of DraftKings 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 completion of the transaction, the insider now directly owns 3,815,698 shares in the company, valued at approximately $144,309,698.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R Stanton Dodge sold 686,101 shares of DraftKings stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $43.06, for a total value of $29,543,509.06. Following the transaction, the insider now owns 200,239 shares of the company’s stock, valued at $8,622,291.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,834,730 shares of company stock valued at $74,192,633. 51.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

DKNG has been the topic of a number of research reports. Wells Fargo & Company upped their price target on DraftKings from $39.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. Barclays upgraded DraftKings from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $41.00 to $50.00 in a research note on Friday, February 23rd. Oppenheimer increased their price objective on DraftKings from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Bank Of America (Bofa) increased their price objective on DraftKings from $45.00 to $50.00 in a research note on Thursday, February 15th. Finally, Susquehanna increased their price objective on DraftKings from $49.00 to $51.00 and gave the company a “positive” rating in a research note on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, DraftKings has a consensus rating of “Moderate Buy” and an average target price of $43.93.

Check Out Our Latest Research Report on DKNG

DraftKings Stock Performance

Shares of NASDAQ DKNG traded down $0.33 during midday trading on Friday, reaching $41.78. 8,650,640 shares of the company were exchanged, compared to its average volume of 12,148,131. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.49. DraftKings Inc. has a 1 year low of $17.02 and a 1 year high of $45.62. The stock has a fifty day simple moving average of $40.26 and a 200 day simple moving average of $35.27. The stock has a market cap of $36.21 billion, a P/E ratio of -23.87 and a beta of 1.87.

DraftKings (NASDAQ:DKNGGet Free Report) last released its quarterly earnings results on Friday, February 16th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.16). DraftKings had a negative return on equity of 87.24% and a negative net margin of 21.88%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the prior year, the business earned ($0.53) EPS. The business’s quarterly revenue was up 43.9% compared to the same quarter last year. On average, research analysts forecast that DraftKings Inc. will post -0.24 earnings per share for the current fiscal 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.

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Institutional Ownership by Quarter for DraftKings (NASDAQ:DKNG)

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