FAS Wealth Partners Inc. Sells 550 Shares of DraftKings Inc. (NASDAQ:DKNG)

FAS Wealth Partners Inc. cut its stake in shares of DraftKings Inc. (NASDAQ:DKNG) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,695 shares of the company’s stock after selling 550 shares during the quarter. FAS Wealth Partners Inc.’s holdings in DraftKings were worth $398,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new position in DraftKings in the fourth quarter worth about $28,000. Synergy Asset Management LLC bought a new stake in shares of DraftKings during the fourth quarter valued at approximately $30,000. Synergy Investment Management LLC bought a new position in DraftKings in the 4th quarter valued at approximately $37,000. Westpac Banking Corp purchased a new stake in DraftKings during the 4th quarter valued at $44,000. Finally, YANKCOM Partnership bought a new stake in shares of DraftKings in the 4th quarter worth $48,000. Institutional investors own 37.70% of the company’s stock.

DraftKings Trading Down 0.1 %

Shares of DKNG stock opened at $33.26 on Friday. The stock’s 50-day moving average price is $36.42 and its 200-day moving average price is $39.39. DraftKings Inc. has a 12-month low of $28.69 and a 12-month high of $53.61. The stock has a market capitalization of $29.37 billion, a price-to-earnings ratio of -31.38, a price-to-earnings-growth ratio of 1.43 and a beta of 2.16. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24.

DraftKings (NASDAQ:DKNG) last posted its earnings results on Thursday, February 13th. The company reported ($0.28) EPS 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%. Equities research analysts predict that DraftKings Inc. will post 0.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on DKNG shares. BTIG Research dropped their price objective on DraftKings from $64.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Truist Financial decreased their price objective on shares of DraftKings from $60.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Cfra Research upgraded shares of DraftKings to a “moderate buy” rating in a report on Monday, April 14th. Wells Fargo & Company lifted their target price on shares of DraftKings from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Finally, Jefferies Financial Group set a $60.00 price target on DraftKings and gave the company a “buy” rating in a report on Sunday, April 13th. Three investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.48.

Insider Transactions at DraftKings

In other DraftKings news, insider Jason Robins sold 666,651 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $42.42, for a total transaction of $28,279,335.42. Following the transaction, the insider now owns 3,336,195 shares in the company, valued at $141,521,391.90. The trade was a 16.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider R Stanton Dodge sold 52,777 shares of the firm’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $32.28, for a total transaction of $1,703,641.56. Following the completion of the sale, the insider now owns 601,520 shares of the company’s stock, valued at $19,417,065.60. This trade represents a 8.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,628,302 shares of company stock worth $111,145,088 in the last three months. Insiders own 51.19% of the company’s stock.

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.