Nomura Asset Management Co. Ltd. Has $3.78 Million Stock Position in DraftKings Inc. (NASDAQ:DKNG)

Nomura Asset Management Co. Ltd. boosted its stake in shares of DraftKings Inc. (NASDAQ:DKNGFree Report) by 8.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 107,140 shares of the company’s stock after buying an additional 8,000 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in DraftKings were worth $3,777,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp raised its position in DraftKings by 8.3% during the fourth quarter. Fifth Third Bancorp now owns 4,331 shares of the company’s stock valued at $153,000 after buying an additional 331 shares during the period. Cornerstone Wealth Management LLC lifted its position in shares of DraftKings by 4.4% in the fourth quarter. Cornerstone Wealth Management LLC now owns 8,082 shares of the company’s stock worth $285,000 after purchasing an additional 341 shares in the last quarter. Stratos Wealth Advisors LLC boosted its holdings in shares of DraftKings by 3.8% during the fourth quarter. Stratos Wealth Advisors LLC now owns 10,289 shares of the company’s stock worth $363,000 after purchasing an additional 381 shares during the period. Signaturefd LLC grew its position in DraftKings by 7.9% during the fourth quarter. Signaturefd LLC now owns 5,774 shares of the company’s stock valued at $204,000 after purchasing an additional 424 shares in the last quarter. Finally, Highlander Capital Management LLC increased its stake in DraftKings by 180.0% in the 4th 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 period. 37.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DKNG has been the topic of several research analyst reports. Stifel Nicolaus lowered their price target on shares of DraftKings from $51.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday. Oppenheimer reiterated an “outperform” rating and set a $60.00 price target on shares of DraftKings in a report on Tuesday. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $55.00 price target on shares of DraftKings in a research note on Thursday, March 28th. JMP Securities reaffirmed a “market outperform” rating and set a $52.00 price objective on shares of DraftKings in a research report on Monday, March 25th. Finally, Truist Financial reiterated a “buy” rating and issued a $55.00 target price (up from $45.00) on shares of DraftKings in a research note on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.24.

Read Our Latest Stock Analysis on DKNG

Insider Activity

In other DraftKings news, insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $40.91, for a total transaction of $8,182,000.00. Following the completion of the transaction, the insider now owns 3,043,231 shares in the company, valued at $124,498,580.21. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 600,000 shares of company stock worth $25,434,000. Corporate insiders own 51.19% of the company’s stock.

DraftKings Price Performance

Shares of DKNG stock opened at $35.82 on Friday. The company has a market capitalization of $31.14 billion, a P/E ratio of -30.36 and a beta of 1.87. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.51. DraftKings Inc. has a 12 month low of $22.92 and a 12 month high of $49.57. The stock has a 50 day moving average of $43.28 and a two-hundred day moving average of $40.37.

DraftKings (NASDAQ:DKNGGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.30) earnings per share 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 for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the firm earned ($0.87) EPS. The firm’s quarterly revenue was up 52.7% on a year-over-year basis. As a group, equities analysts expect that DraftKings Inc. will post -0.19 EPS for the current year.

DraftKings 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.

Further Reading

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Institutional Ownership by Quarter for DraftKings (NASDAQ:DKNG)

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