DraftKings Inc. (DKNG) Is Up 239.44% in 2020 With Lots of Room to Run

DraftKings Inc. (NASDAQ: DKNG) is 239.44% higher on its value in year-to-date trading and has touched a low of $9.84 and a high of $44.79 in the current 52-week trading range. The DKNG stock was last observed hovering at around $39.06 in the last trading session, with the day’s loss setting it -2.74% off its average median price target of $50.00 for the next 12 months. It is also 39.47% off the consensus price target high of $60.00 offered by 12 analysts, but current levels are -3.77% lower than the price target low of $35.00 for the same period.

Currently trading at $36.32, the stock is 3.85% and 3.85% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 18.41 million and changing -7.01% at the moment leaves the stock 65.44% off its SMA200. DKNG registered a gain of 118.01% in past 6-months. The firm has a 50-day simple moving average (SMA 50) of $34.79 and a 200-day simple moving average (SMA200) of $24.93.

The stock witnessed a 4.40% loss in the last 1 month and extending the period to 3 months gives it a -16.89%, and is 3.33% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 8.40% over the week and 7.13% over the month.

DraftKings Inc. (DKNG) has around 2 employees, a market worth around $13.89B and $357.40M in sales. Current P/E ratio is 660.36. Distance from 52-week low is 269.11% and -18.91% from its 52-week high.

DraftKings Inc. (DKNG) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for DraftKings Inc. (DKNG) is a “Overweight”. 12 analysts offering their recommendations for the stock have an average rating of 1.90, where 3 rate it as a Hold and 0 think it is a “Overweight”. 9 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

DraftKings Inc. quarterly earnings per share for the current quarter are estimated at -$0.28 with sales reaching $131.73M over the same period.

DraftKings Inc. (DKNG) Top Institutional Holders

91 institutions hold shares in DraftKings Inc. (DKNG), with 173.99M shares held by insiders accounting for 48.94% while institutional investors hold 21.21% of the company’s shares. The shares outstanding are 353.84M, and float is at 278.59M with Short Float at 7.87%. Institutions hold 10.83% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 22.64 million shares valued at $753.03 million. The investor’s holdings represent 6.37% of the DKNG Shares outstanding. As of Jun 29, 2020, the second largest holder is Raine Capital Llc with 21.72 million shares valued at $722.27 million to account for 6.11% of the shares outstanding. The other top investors are Price (T.Rowe) Associates Inc which holds 17.22 million shares representing 4.84% and valued at over $572.68 million, while Wellington Management Company, LLP holds 3.09% of the shares totaling 11.0 million with a market value of $365.99 million.

DraftKings Inc. (DKNG) Insider Activity

The most recent transaction is an insider sale by Levin Woodrow, the company’s Director. SEC filings show that Levin Woodrow sold 3,112 shares of the company’s common stock on Jun 23 at a price of $38.80 per share for a total of $0.12 million. Following the sale, the insider now owns 10.0 shares.

DraftKings Inc. disclosed in a document filed with the SEC on Jun 23 that Levin Woodrow (Director) sold a total of 50,000 shares of the company’s common stock. The trade occurred on Jun 23 and was made at $38.80 per share for $1.94 million. Following the transaction, the insider now directly holds 0.23 million shares of the DKNG stock.

Still, SEC filings show that on Jun 23, Liberman Paul disposed off 796,348 shares at an average price of $38.80 for $30.9 million. The insider now directly holds 4,286 shares of DraftKings Inc. (DKNG).