QRG Capital Management Inc. grew its holdings in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) by 11.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 64,272 shares of the company's stock after purchasing an additional 6,839 shares during the period. QRG Capital Management Inc.'s holdings in DraftKings were worth $2,391,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in DKNG. Stonebridge Financial Group LLC bought a new stake in shares of DraftKings during the fourth quarter valued at approximately $28,000. Synergy Asset Management LLC bought a new stake in shares of DraftKings during the fourth quarter valued at approximately $30,000. Delos Wealth Advisors LLC bought a new stake in shares of DraftKings during the third quarter valued at approximately $43,000. Creative Financial Designs Inc. ADV increased its position in shares of DraftKings by 36.8% during the third quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company's stock valued at $47,000 after acquiring an additional 320 shares in the last quarter. Finally, YANKCOM Partnership bought a new stake in shares of DraftKings during the fourth quarter valued at approximately $48,000. 37.70% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Jason Robins sold 666,651 shares of the business'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 $28,279,335.42. Following the sale, the insider now directly owns 3,336,195 shares in the company, valued at $141,521,391.90. The trade was a 16.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Alan Wayne Ellingson sold 158,661 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $42.42, for a total transaction of $6,730,399.62. Following the completion of the sale, the chief financial officer now owns 179,435 shares in the company, valued at approximately $7,611,632.70. This trade represents a 46.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,573,488 shares of company stock worth $109,600,767 in the last three months. Insiders own 51.19% of the company's stock.
Shares of DKNG stock opened at $43.86 on Monday. The stock has a market cap of $21.49 billion, a P/E ratio of -41.38, a PEG ratio of 1.43 and a beta of 1.93. DraftKings Inc. has a 52 week low of $28.69 and a 52 week high of $53.61. The company has a quick ratio of 1.00, a current ratio of 0.93 and a debt-to-equity ratio of 1.24. The company's fifty day simple moving average is $41.78 and its two-hundred day simple moving average is $39.84.
DraftKings (NASDAQ:DKNG - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate 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 EPS for the current fiscal year.
DKNG has been the subject of several analyst reports. Truist Financial raised their price target on shares of DraftKings from $50.00 to $60.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Morgan Stanley lifted their target price on shares of DraftKings from $49.00 to $53.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. Wells Fargo & Company lifted their target price on shares of DraftKings from $53.00 to $60.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Needham & Company LLC set a $65.00 target price on shares of DraftKings in a research report on Tuesday, February 18th. Finally, Benchmark lifted their target price on shares of DraftKings from $44.00 to $51.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $54.44.
Read Our Latest Stock Analysis on DraftKings
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider DraftKings, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and DraftKings wasn't on the list.
While DraftKings currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.