Dupont Capital Management Corp bought a new position in DraftKings Inc. (NASDAQ:DKNG – Get Rating) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,966 shares of the company’s stock, valued at approximately $211,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in DKNG. Walker Asset Management LLC bought a new position in DraftKings during the second quarter valued at approximately $403,000. J.W. Cole Advisors Inc. bought a new position in DraftKings during the first quarter valued at approximately $26,000. Belpointe Asset Management LLC lifted its position in DraftKings by 4.5% during the second quarter. Belpointe Asset Management LLC now owns 22,610 shares of the company’s stock valued at $264,000 after purchasing an additional 979 shares during the period. Victory Capital Management Inc. lifted its position in DraftKings by 3.0% during the second quarter. Victory Capital Management Inc. now owns 306,023 shares of the company’s stock valued at $3,571,000 after purchasing an additional 8,938 shares during the period. Finally, McDonald Partners LLC lifted its position in DraftKings by 12.1% during the second quarter. McDonald Partners LLC now owns 16,236 shares of the company’s stock valued at $189,000 after purchasing an additional 1,758 shares during the period. Institutional investors own 30.60% of the company’s stock.
Analyst Ratings Changes
A number of research analysts recently weighed in on DKNG shares. Craig Hallum lowered their price objective on shares of DraftKings from $30.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, November 7th. Roth Capital cut shares of DraftKings from a “buy” rating to a “neutral” rating and set a $15.00 target price for the company. in a report on Monday, December 12th. Needham & Company LLC reduced their target price on shares of DraftKings from $25.00 to $20.00 and set a “buy” rating for the company in a report on Monday, November 7th. Canaccord Genuity Group reduced their target price on shares of DraftKings from $32.00 to $28.00 and set a “buy” rating for the company in a report on Monday, November 7th. Finally, Redburn Partners assumed coverage on shares of DraftKings in a report on Wednesday, October 12th. They set a “neutral” rating and a $19.00 target price for the company. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $21.96.
DraftKings Trading Up 3.5 %
DraftKings (NASDAQ:DKNG – Get Rating) last released its earnings results on Friday, November 4th. The company reported ($1.00) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.07) by $0.07. The firm had revenue of $501.94 million during the quarter, compared to analyst estimates of $436.21 million. DraftKings had a negative net margin of 78.64% and a negative return on equity of 87.08%. As a group, sell-side analysts predict that DraftKings Inc. will post -3.11 earnings per share for the current fiscal year.
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.
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