DraftKings (NASDAQ:DKNG) PT Lowered to $52.00 at Macquarie

DraftKings (NASDAQ:DKNG) had its price target decreased by Macquarie from $54.00 to $52.00 in a research note issued to investors on Thursday, MarketBeat reports. Macquarie currently has an outperform rating on the stock.

Several other research firms also recently weighed in on DKNG. Wells Fargo & Company cut their target price on DraftKings from $54.00 to $53.00 and set an overweight rating on the stock in a research report on Tuesday, June 25th. Oppenheimer reduced their target price on shares of DraftKings from $60.00 to $58.00 and set an outperform rating on the stock in a research note on Monday, July 1st. Berenberg Bank raised shares of DraftKings to a hold rating in a research note on Friday, May 31st. The Goldman Sachs Group started coverage on shares of DraftKings in a research report on Tuesday, April 16th. They issued a buy rating and a $60.00 price objective on the stock. Finally, Truist Financial dropped their target price on DraftKings from $55.00 to $53.00 and set a buy rating for the company in a research report on Thursday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $49.66.

DraftKings Trading Up 0.7 %

Shares of DKNG stock opened at $36.93 on Thursday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $32.10 billion, a price-to-earnings ratio of -31.30 and a beta of 1.81. DraftKings has a 12-month low of $25.41 and a 12-month high of $49.57. The stock’s 50-day moving average price is $39.23 and its 200-day moving average price is $40.86.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.02). DraftKings had a negative return on equity of 62.74% and a negative net margin of 13.45%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the business earned ($0.87) earnings per share. The business’s quarterly revenue was up 52.7% on a year-over-year basis. Equities research analysts predict that DraftKings will post -0.29 EPS for the current fiscal year.

Insider Buying and Selling at DraftKings

In other news, insider Paul Liberman sold 668,890 shares of DraftKings stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $38.83, for a total value of $25,972,998.70. Following the transaction, the insider now owns 205,962 shares of the company’s stock, valued at approximately $7,997,504.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Paul Liberman sold 668,890 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $38.83, for a total value of $25,972,998.70. Following the completion of the sale, the insider now owns 205,962 shares of the company’s stock, valued at approximately $7,997,504.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $42.67, for a total value of $8,534,000.00. Following the transaction, the insider now directly owns 2,849,215 shares in the company, valued at $121,576,004.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,383,546 shares of company stock valued at $55,279,617. 51.19% of the stock is currently owned by insiders.

Institutional Trading of DraftKings

A number of institutional investors have recently bought and sold shares of DKNG. Highlander Capital Management LLC grew its holdings in shares of DraftKings by 180.0% during the fourth quarter. Highlander Capital Management LLC now owns 700 shares of the company’s stock valued at $25,000 after buying an additional 450 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in shares of DraftKings in the 4th quarter valued at about $26,000. Montag A & Associates Inc. acquired a new position in shares of DraftKings in the 4th quarter valued at about $29,000. LRI Investments LLC acquired a new position in shares of DraftKings in the 1st quarter valued at about $31,000. Finally, LifeSteps Financial Inc. acquired a new position in shares of DraftKings in the 1st quarter valued at about $33,000. 37.70% of the stock is currently owned by institutional investors and hedge funds.

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.