DraftKings Inc. (NASDAQ:DKNG) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of DraftKings Inc. (NASDAQ:DKNG) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-six analysts that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $51.64.

DKNG has been the topic of a number of recent analyst reports. JMP Securities reiterated a “market outperform” rating and set a $50.00 target price on shares of DraftKings in a research note on Friday. TD Cowen lowered their price objective on DraftKings from $55.00 to $51.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Benchmark boosted their price objective on DraftKings from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Friday. Macquarie boosted their price objective on DraftKings from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, Susquehanna lowered their price objective on DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th.

Insider Buying and Selling

In other DraftKings news, insider Jason Robins sold 3,151 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $43.71, for a total transaction of $137,730.21. Following the transaction, the insider now directly owns 2,631,033 shares in the company, valued at $115,002,452.43. This trade represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider R Stanton Dodge sold 228,496 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $42.74, for a total transaction of $9,765,919.04. Following the transaction, the insider now owns 541,884 shares in the company, valued at $23,160,122.16. The trade was a 29.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,163,742 shares of company stock worth $47,082,888. Insiders own 51.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DKNG. Stonebridge Financial Group LLC bought a new position in DraftKings during the fourth quarter valued at approximately $28,000. Synergy Asset Management LLC bought a new position in DraftKings during the fourth quarter valued at approximately $30,000. Synergy Investment Management LLC bought a new position in DraftKings during the fourth quarter valued at approximately $37,000. Delos Wealth Advisors LLC bought a new position in DraftKings during the third quarter valued at approximately $43,000. Finally, Westpac Banking Corp bought a new position in DraftKings during the fourth quarter valued at approximately $44,000. 37.70% of the stock is currently owned by institutional investors.

DraftKings Trading Up 15.2 %

NASDAQ DKNG opened at $53.49 on Friday. The stock has a market capitalization of $26.08 billion, a price-to-earnings ratio of -60.78, a PEG ratio of 3.18 and a beta of 1.93. 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 1.17, a current ratio of 1.00 and a quick ratio of 1.00. The business’s fifty day moving average is $40.54 and its 200-day moving average is $38.75.

DraftKings (NASDAQ:DKNG) last released its earnings results 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 41.23% and a negative net margin of 9.06%. Equities research analysts predict that DraftKings will post -0.95 EPS for the current year.

About 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.