By otakuyassine3@gmail.com 
DraftKings Inc. (NASDAQ:DKNG – Get Free Report) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 22,620,000 shares, an increase of 20.3% from the December 31st total of 18,810,000 shares. Based on an average daily trading volume, of 8,440,000 shares, the short-interest ratio is presently 2.7 days.
Analyst Ratings Changes
DKNG has been the topic of a number of recent analyst reports. TD Cowen upped their price objective on DraftKings from $50.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Benchmark reiterated a “buy” rating and issued a $44.00 price objective on shares of DraftKings in a report on Tuesday, January 7th. Morgan Stanley boosted their target price on DraftKings from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Susquehanna cut their target price on DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Finally, JMP Securities cut their target price on DraftKings from $52.00 to $50.00 and set a “market outperform” rating on the stock in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.08.
Check Out Our Latest Analysis on DraftKings
Insider Buying and Selling
In other news, insider Paul Liberman sold 532,095 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $38.30, for a total transaction of $20,379,238.50. Following the transaction, the insider now directly owns 68,654 shares in the company, valued at $2,629,448.20. The trade was a 88.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jason Robins sold 3,151 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $43.71, for a total value of $137,730.21. Following the transaction, the insider now owns 2,631,033 shares in the company, valued at approximately $115,002,452.43. This represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 963,742 shares of company stock worth $38,082,888. Insiders own 51.19% of the company’s stock.
Hedge Funds Weigh In On DraftKings
Several large investors have recently bought and sold shares of DKNG. Stonebridge Financial Group LLC acquired a new position in DraftKings in the fourth quarter valued at $28,000. Synergy Asset Management LLC acquired a new position in DraftKings in the fourth quarter valued at $30,000. Delos Wealth Advisors LLC acquired a new stake in shares of DraftKings during the third quarter worth about $43,000. V Square Quantitative Management LLC acquired a new stake in shares of DraftKings during the third quarter worth about $46,000. Finally, Creative Financial Designs Inc. ADV boosted its stake in shares of DraftKings by 36.8% during the third quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock worth $47,000 after buying an additional 320 shares during the period. Institutional investors and hedge funds own 37.70% of the company’s stock.
DraftKings Price Performance
NASDAQ:DKNG traded down $0.78 during trading hours on Friday, hitting $41.95. The company’s stock had a trading volume of 5,130,980 shares, compared to its average volume of 7,056,629. The stock has a fifty day moving average of $40.46 and a 200-day moving average of $38.23. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.00. DraftKings has a 52-week low of $28.69 and a 52-week high of $49.57.
DraftKings (NASDAQ:DKNG – Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.18). DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Equities research analysts expect that DraftKings will post -0.93 EPS for the current fiscal year.
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.
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