New York State Common Retirement Fund trimmed its holdings in DraftKings Inc. (NASDAQ:DKNG – Get Rating) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 352,911 shares of the company’s stock after selling 7,937 shares during the period. New York State Common Retirement Fund’s holdings in DraftKings were worth $6,871,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DKNG. CWM LLC acquired a new position in DraftKings in the fourth quarter valued at about $221,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in DraftKings by 21.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,681 shares of the company’s stock valued at $1,777,000 after acquiring an additional 11,290 shares during the period. Fifth Third Bancorp grew its stake in DraftKings by 74.5% in the fourth quarter. Fifth Third Bancorp now owns 4,450 shares of the company’s stock valued at $122,000 after acquiring an additional 1,900 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in shares of DraftKings by 11.7% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 21,922 shares of the company’s stock valued at $574,000 after purchasing an additional 2,290 shares in the last quarter. Finally, Banque Pictet & Cie SA bought a new stake in shares of DraftKings in the fourth quarter valued at about $918,000. 33.91% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
DKNG has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft cut their price target on DraftKings from $19.00 to $16.00 in a report on Monday, May 9th. Morgan Stanley cut their price target on DraftKings from $31.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday. Cowen dropped their target price on DraftKings from $60.00 to $50.00 in a report on Wednesday, May 4th. Benchmark upped their target price on DraftKings to $30.00 in a report on Tuesday. Finally, Northland Securities dropped their price objective on DraftKings from $40.00 to $25.00 in a research note on Monday, May 9th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, DraftKings currently has an average rating of “Hold” and a consensus target price of $30.23.
DraftKings Stock Down 2.9 %
DKNG opened at $17.89 on Wednesday. The company has a market cap of $14.34 billion, a P/E ratio of -4.72 and a beta of 2.04. The business’s 50-day moving average price is $13.30 and its 200-day moving average price is $16.18. The company has a current ratio of 2.96, a quick ratio of 2.96 and a debt-to-equity ratio of 0.74. DraftKings Inc. has a 12 month low of $9.77 and a 12 month high of $64.58.
About DraftKings
(Get Rating)
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.
Featured Articles
Want to see what other hedge funds are holding DKNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DraftKings Inc. (NASDAQ:DKNG – Get Rating).
Want More Great Investing Ideas?
Receive News & Ratings for DraftKings Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for DraftKings and related companies with MarketBeat.com’s FREE daily email newsletter.
