Banco Bilbao Vizcaya Argentaria S.A. Grows Stake in DraftKings Inc. (NASDAQ:DKNG)

Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in DraftKings Inc. (NASDAQ:DKNG) by 28.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,042 shares of the company’s stock after buying an additional 1,548 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in DraftKings were worth $261,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Stonebridge Financial Group LLC purchased a new stake in shares of DraftKings in the 4th quarter valued at about $28,000. Synergy Asset Management LLC bought a new position in shares of DraftKings in the fourth quarter worth approximately $30,000. Synergy Investment Management LLC purchased a new stake in DraftKings in the fourth quarter valued at approximately $37,000. Westpac Banking Corp bought a new stake in DraftKings during the fourth quarter valued at approximately $44,000. Finally, YANKCOM Partnership purchased a new position in DraftKings in the 4th quarter worth approximately $48,000. Institutional investors own 37.70% of the company’s stock.

Analysts Set New Price Targets

DKNG has been the topic of several research reports. Argus set a $60.00 price objective on shares of DraftKings in a research report on Tuesday, February 18th. Jefferies Financial Group set a $60.00 price target on DraftKings and gave the stock a “buy” rating in a research note on Sunday, April 13th. JMP Securities set a $57.00 price objective on DraftKings in a research report on Wednesday, April 2nd. Needham & Company LLC restated a “buy” rating and issued a $65.00 target price on shares of DraftKings in a research report on Monday, April 7th. Finally, Barclays cut their target price on DraftKings from $60.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, DraftKings presently has an average rating of “Moderate Buy” and a consensus price target of $54.48.

DraftKings Price Performance

NASDAQ DKNG opened at $33.22 on Wednesday. DraftKings Inc. has a one year low of $28.69 and a one year high of $53.61. The stock has a 50-day moving average of $36.89 and a 200 day moving average of $39.46. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.00 and a current ratio of 0.93. The company has a market capitalization of $29.33 billion, a price-to-earnings ratio of -31.34, a PEG ratio of 1.43 and a beta of 2.16.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.35). DraftKings had a negative net margin of 10.64% and a negative return on equity of 48.13%. On average, sell-side analysts forecast that DraftKings Inc. will post 0.64 EPS for the current year.

Insider Activity at DraftKings

In related news, insider Matthew Kalish sold 587,585 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $47.05, for a total value of $27,645,874.25. Following the transaction, the insider now directly owns 4,118,927 shares of the company’s stock, valued at approximately $193,795,515.35. This trade represents a 12.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $45.00, for a total value of $9,000,000.00. Following the sale, the insider now directly owns 2,678,613 shares of the company’s stock, valued at $120,537,585. This represents a 6.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,628,302 shares of company stock worth $111,145,088. 51.19% of the stock is owned by company insiders.

DraftKings 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.