DraftKings (NASDAQ:DKNG) Sets New 12-Month High at $39.06

DraftKings Inc. (NASDAQ:DKNG)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $39.06 and last traded at $38.62, with a volume of 1189407 shares traded. The stock had previously closed at $38.37.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. BTIG Research boosted their price target on shares of DraftKings from $34.00 to $39.00 in a research report on Friday, August 4th. Susquehanna upped their target price on DraftKings from $37.00 to $42.00 and gave the stock a “positive” rating in a report on Monday, November 13th. Stifel Nicolaus raised their target price on DraftKings from $25.00 to $32.00 in a research note on Thursday, August 3rd. Roth Mkm upped their price target on DraftKings from $20.00 to $23.00 and gave the stock a “sell” rating in a research note on Monday, August 7th. Finally, UBS Group increased their price objective on DraftKings from $39.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.43.

DraftKings Trading Up 0.5 %

The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market cap of $33.14 billion, a PE ratio of -17.60 and a beta of 1.81. The stock has a 50-day simple moving average of $30.51 and a two-hundred day simple moving average of $28.36.

Insider Transactions at DraftKings

In other DraftKings news, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $27.11, for a total transaction of $5,422,000.00. Following the completion of the sale, the insider now directly owns 3,811,351 shares in the company, valued at approximately $103,325,725.61. The sale was disclosed in a document filed with the SEC, which is available through this link. In other DraftKings news, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $27.11, for a total transaction of $5,422,000.00. Following the completion of the sale, the insider now directly owns 3,811,351 shares in the company, valued at approximately $103,325,725.61. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider R Stanton Dodge sold 105,554 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $35.82, for a total transaction of $3,780,944.28. Following the sale, the insider now directly owns 652,984 shares of the company’s stock, valued at approximately $23,389,886.88. The disclosure for this sale can be found here. Insiders sold 467,193 shares of company stock worth $14,515,674 over the last three months. 51.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DraftKings

A number of hedge funds have recently modified their holdings of the business. Signaturefd LLC grew its holdings in DraftKings by 7.6% during the third quarter. Signaturefd LLC now owns 5,350 shares of the company’s stock valued at $158,000 after purchasing an additional 379 shares during the period. Udine Wealth Management Inc. grew its stake in shares of DraftKings by 0.5% during the 3rd quarter. Udine Wealth Management Inc. now owns 79,352 shares of the company’s stock valued at $2,336,000 after acquiring an additional 384 shares during the period. Fifth Third Bancorp grew its stake in shares of DraftKings by 10.0% during the 2nd quarter. Fifth Third Bancorp now owns 4,400 shares of the company’s stock valued at $117,000 after acquiring an additional 400 shares during the period. Gables Capital Management Inc. increased its holdings in DraftKings by 2.2% in the 3rd quarter. Gables Capital Management Inc. now owns 18,330 shares of the company’s stock worth $540,000 after acquiring an additional 400 shares in the last quarter. Finally, Mcdonald Partners LLC raised its stake in DraftKings by 2.4% during the 3rd quarter. Mcdonald Partners LLC now owns 17,080 shares of the company’s stock worth $503,000 after acquiring an additional 405 shares during the period. Institutional investors own 32.84% of the company’s stock.

DraftKings Company Profile

DraftKings Inc operates a digital sports entertainment and gaming company. It offers multi-channel sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. The company operates iGaming through its DraftKings brand in 5 states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand in 3 states.