Qube Research & Technologies Ltd has acquired a new stake in DraftKings Inc. (NASDAQ: DKNG – Get a rating) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 97,891 shares of the company, valued at approximately $1,906,000.
Other institutional investors and hedge funds have also been buying and selling shares of the company recently. Compagnie Lombard Odier SCmA acquired a new stake in DraftKings during the fourth quarter at a value of approximately $27,000. Benjamin Edwards Inc. increased its stake in DraftKings to 99.7% during the fourth quarter. Benjamin Edwards Inc. now owns 1,216 shares of the company valued at $33,000 after buying 607 additional shares in the last quarter. KRS Capital Management LLC acquired a new stake in DraftKings during the fourth quarter valued at approximately $35,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in DraftKings during the fourth quarter valued at approximately $38,000. Finally, Cornerstone Advisory LLC acquired a new stake in DraftKings stock during Q4 for a value of approximately $39,000. Hedge funds and other institutional investors own 33.91% of the company’s shares.
DraftKings Stock Performance
Shares of DraftKings action opened at $20.67 on Friday. The company has a quick ratio of 2.96, a current ratio of 2.96 and a leverage ratio of 0.74. DraftKings Inc. has a 12 month minimum of $9.77 and a 12 month maximum of $64.58. The company has a fifty-day simple moving average of $13.66 and a 200-day simple moving average of $16.20. The stock has a market capitalization of $17.40 billion, a PE ratio of -5.45 and a beta of 2.03.
Analyst upgrades and downgrades
DKNG has been the subject of a number of research reports. Northland Securities lowered its price target on DraftKings from $40.00 to $25.00 in a Monday, May 9 research report. Loop Capital lowered its price target on DraftKings from $35.00 to $25.00 in a Monday, May 9 research report. Cowen lowered his target price on DraftKings from $60.00 to $50.00 in a Wednesday, May 4 research report. Craig Hallum lowered his target price on DraftKings from $40.00 to $30.00 in a Monday, May 9 research report. Finally, Jefferies Financial Group launched coverage on DraftKings in a research report on Monday, May 16. They issued a “buy” rating on the stock. Eleven research analysts gave the stock a hold rating and ten gave the company a buy rating. Based on data from MarketBeat.com, DraftKings currently has a consensus rating of “Hold” and a consensus target price of $30.23.
DraftKings Inc operates a digital sports gaming and entertainment 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 Golden Nugget Online Gaming, an iGaming product and gaming brand in 3 states.
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