DraftKings Inc. (NASDAQ:DKNG) Shares Bought by Bank of Hawaii

Bank of Hawaii increased its holdings in DraftKings Inc. (NASDAQ:DKNG) by 99.1% during the third quarter, Holdings Channel reports. The firm owned 52,713 shares of the company’s stock after purchasing an additional 26,235 shares during the period. Bank of Hawaii’s holdings in DraftKings were worth $2,066,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. LRI Investments LLC bought a new position in shares of DraftKings in the first quarter valued at $31,000. Alta Advisers Ltd acquired a new stake in shares of DraftKings during the second quarter worth $38,000. Redwood Wealth Management Group LLC purchased a new stake in shares of DraftKings during the second quarter valued at $39,000. St. Johns Investment Management Company LLC acquired a new position in shares of DraftKings in the 2nd quarter valued at $46,000. Finally, V Square Quantitative Management LLC purchased a new position in DraftKings in the 3rd quarter worth about $46,000. 37.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling at DraftKings

In related news, insider Jason Robins sold 3,151 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $43.71, for a total transaction of $137,730.21. Following the completion of the transaction, the insider now owns 2,631,033 shares of the company’s stock, valued at approximately $115,002,452.43. The trade was a 0.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Liberman sold 643,654 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $41.24, for a total value of $26,544,290.96. Following the sale, the insider now owns 137,308 shares of the company’s stock, valued at approximately $5,662,581.92. The trade was a 82.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 735,246 shares of company stock worth $29,902,158 over the last 90 days. Insiders own 48.94% of the company’s stock.

Analysts Set New Price Targets

DKNG has been the subject of several recent analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $48.00 target price (down from $50.00) on shares of DraftKings in a report on Monday, August 5th. Susquehanna raised their price objective on shares of DraftKings from $48.00 to $50.00 and gave the stock a “positive” rating in a research note on Monday, October 7th. Wells Fargo & Company boosted their target price on shares of DraftKings from $47.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Macquarie raised their target price on DraftKings from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, Barclays lifted their price target on DraftKings from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $50.85.

DraftKings Price Performance

DraftKings stock opened at $43.09 on Monday. DraftKings Inc. has a one year low of $28.69 and a one year high of $49.57. The company’s fifty day moving average price is $38.92 and its two-hundred day moving average price is $37.89. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. As a group, analysts anticipate that DraftKings Inc. will post -0.79 earnings per share for the current 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.