Mirae Asset Global Investments Co. Ltd. Buys 1,999 Shares of DraftKings Inc. (NASDAQ:DKNG)

Mirae Asset Global Investments Co. Ltd. raised its stake in DraftKings Inc. (NASDAQ:DKNG) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 100,485 shares of the company’s stock after acquiring an additional 1,999 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in DraftKings were worth $3,542,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Highlander Capital Management LLC grew its position in DraftKings by 180.0% in the fourth quarter. Highlander Capital Management LLC now owns 700 shares of the company’s stock valued at $25,000 after acquiring an additional 450 shares during the period. Parkside Financial Bank & Trust boosted its stake in DraftKings by 233.6% in the second quarter. Parkside Financial Bank & Trust now owns 1,014 shares of the company’s stock worth $27,000 after purchasing an additional 710 shares in the last quarter. FSC Wealth Advisors LLC acquired a new position in DraftKings in the fourth quarter worth $37,000. Householder Group Estate & Retirement Specialist LLC boosted its stake in DraftKings by 154.2% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 1,215 shares of the company’s stock worth $42,000 after purchasing an additional 737 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in DraftKings in the third quarter worth $45,000. 37.70% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other DraftKings news, insider Paul Liberman sold 510,000 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $40.00, for a total transaction of $20,400,000.00. Following the transaction, the insider now owns 2,291,406 shares in the company, valued at approximately $91,656,240. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other DraftKings news, insider Paul Liberman sold 510,000 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $40.00, for a total transaction of $20,400,000.00. Following the transaction, the insider now owns 2,291,406 shares in the company, valued at approximately $91,656,240. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction, the insider now owns 200,239 shares in the company, valued at approximately $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 in the last 90 days. Company insiders own 51.19% of the company’s stock.

DraftKings Stock Up 2.8 %

DKNG stock opened at $44.94 on Wednesday. DraftKings Inc. has a twelve month low of $19.10 and a twelve month high of $49.57. The company has a market cap of $38.95 billion, a price-to-earnings ratio of -25.68 and a beta of 1.86. The business has a 50 day moving average price of $43.87 and a two-hundred day moving average price of $37.78. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.49.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings results on Friday, February 16th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.16). The firm 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%. The business’s revenue for the quarter was up 43.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.53) earnings per share. Analysts anticipate that DraftKings Inc. will post -0.25 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on DKNG shares. Moffett Nathanson boosted their price objective on DraftKings from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $55.00 price target on shares of DraftKings in a research note on Thursday, March 28th. Barclays raised DraftKings from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $41.00 to $50.00 in a research note on Friday, February 23rd. Truist Financial reaffirmed a “buy” rating and set a $55.00 price target (up previously from $45.00) on shares of DraftKings in a research note on Tuesday, February 20th. Finally, Piper Sandler upped their price target on DraftKings from $40.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, DraftKings currently has an average rating of “Moderate Buy” and an average price target of $46.93.

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.