DraftKings Inc. (NASDAQ:DKNG) Position Lessened by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd trimmed its position in shares of DraftKings Inc. (NASDAQ:DKNGFree Report) by 45.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,648 shares of the company’s stock after selling 1,364 shares during the period. Gulf International Bank UK Ltd’s holdings in DraftKings were worth $58,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. BOKF NA acquired a new stake in shares of DraftKings in the second quarter valued at about $27,000. Parkside Financial Bank & Trust grew its position in DraftKings by 233.6% during the second quarter. Parkside Financial Bank & Trust now owns 1,014 shares of the company’s stock worth $27,000 after buying an additional 710 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in DraftKings during the third quarter worth about $45,000. CI Investments Inc. grew its position in DraftKings by 55.9% during the third quarter. CI Investments Inc. now owns 1,671 shares of the company’s stock worth $49,000 after buying an additional 599 shares in the last quarter. Finally, Impact Partnership Wealth LLC bought a new position in DraftKings during the third quarter worth about $50,000. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

DraftKings Price Performance

Shares of NASDAQ:DKNG opened at $47.32 on Tuesday. The firm has a market cap of $41.01 billion, a PE ratio of -27.04 and a beta of 1.87. The firm’s fifty day moving average is $41.77 and its 200-day moving average is $36.03. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.34 and a current ratio of 1.34. DraftKings Inc. has a 52 week low of $17.33 and a 52 week high of $48.90.

DraftKings (NASDAQ:DKNGGet Free Report) 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 for the quarter, compared to analyst estimates of $1.24 billion. DraftKings had a negative return on equity of 87.24% and a negative net margin of 21.88%. DraftKings’s revenue for the quarter was up 43.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.53) EPS. Sell-side analysts predict that DraftKings Inc. will post -0.24 earnings per share for the current year.

Analyst Ratings Changes

DKNG has been the subject of a number of analyst reports. Piper Sandler raised their price target on shares of DraftKings from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. BMO Capital Markets lifted their target price on shares of DraftKings from $43.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Susquehanna lifted their target price on shares of DraftKings from $51.00 to $54.00 and gave the stock a “positive” rating in a report on Monday. BNP Paribas lowered shares of DraftKings from a “neutral” rating to an “underperform” rating and set a $28.00 target price for the company. in a report on Friday, January 19th. Finally, Stifel Nicolaus raised shares of DraftKings from a “hold” rating to a “buy” rating and boosted their price target for the company from $40.00 to $45.00 in a report on Friday, January 19th. Two analysts have rated the stock with a sell rating, one has given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $44.52.

Check Out Our Latest Stock Analysis on DKNG

Insider Activity at DraftKings

In other DraftKings news, insider R Stanton Dodge sold 686,101 shares of DraftKings stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $43.06, for a total value of $29,543,509.06. Following the completion of the sale, the insider now directly owns 200,239 shares of the company’s stock, valued at $8,622,291.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $37.82, for a total transaction of $7,564,000.00. Following the transaction, the insider now directly owns 3,815,698 shares in the company, valued at $144,309,698.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider R Stanton Dodge sold 686,101 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 200,239 shares in the company, valued at $8,622,291.34. The disclosure for this sale can be found here. Insiders have sold a total of 1,596,101 shares of company stock worth $65,685,509 over the last quarter. Company insiders own 55.92% of the company’s stock.

DraftKings Company 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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