DraftKings Inc. (NASDAQ:DKNG) Given Average Recommendation of “Moderate Buy” by Brokerages

DraftKings Inc. (NASDAQ:DKNG) has received an average recommendation of “Moderate Buy” from the twenty-eight brokerages that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $54.44.

DKNG has been the topic of a number of research reports. Morgan Stanley boosted their price objective on DraftKings from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Macquarie lifted their target price on DraftKings from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Stifel Nicolaus lifted their target price on DraftKings from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. JMP Securities restated a “market outperform” rating and issued a $50.00 target price on shares of DraftKings in a report on Friday, February 14th. Finally, Benchmark lifted their target price on DraftKings from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, February 14th.

Insider Buying and Selling at DraftKings

In other DraftKings news, insider Matthew Kalish sold 587,585 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $47.05, for a total value of $27,645,874.25. Following the transaction, the insider now owns 4,118,927 shares in the company, valued at $193,795,515.35. The trade was a 12.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul Liberman sold 532,095 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $38.30, for a total value of $20,379,238.50. Following the completion of the transaction, the insider now owns 68,654 shares in the company, valued at $2,629,448.20. This trade represents a 88.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,783,488 shares of company stock worth $118,128,867 over the last 90 days. 51.19% of the stock is currently owned by corporate insiders.

Institutional Trading of DraftKings

A number of institutional investors and hedge funds have recently made changes to their positions in DKNG. Janus Henderson Group PLC lifted its position in shares of DraftKings by 31,346.8% in the fourth quarter. Janus Henderson Group PLC now owns 9,381,853 shares of the company’s stock worth $349,005,000 after buying an additional 9,352,019 shares during the last quarter. Norges Bank acquired a new stake in shares of DraftKings in the fourth quarter worth about $276,328,000. FMR LLC lifted its position in shares of DraftKings by 110.6% in the fourth quarter. FMR LLC now owns 13,617,448 shares of the company’s stock worth $506,569,000 after buying an additional 7,150,382 shares during the last quarter. Baillie Gifford & Co. acquired a new stake in shares of DraftKings in the fourth quarter worth about $246,765,000. Finally, Eminence Capital LP acquired a new stake in shares of DraftKings in the fourth quarter worth about $65,255,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

DraftKings Stock Up 5.1 %

DKNG opened at $43.41 on Thursday. DraftKings has a one year low of $28.69 and a one year high of $53.61. 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 stock’s fifty day moving average is $42.00 and its 200-day moving average is $39.97. The company has a market capitalization of $21.27 billion, a PE ratio of -40.95, a P/E/G ratio of 1.43 and a beta of 2.07.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) 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%. On average, equities analysts predict that DraftKings will post 0.64 EPS for the current fiscal year.

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.