R Stanton Dodge Sells 52,777 Shares of DraftKings (NASDAQ:DKNG) Stock

DraftKings Inc. (NASDAQ:DKNG) insider R Stanton Dodge sold 52,777 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $33.84, for a total transaction of $1,785,973.68. Following the completion of the sale, the insider directly owned 512,182 shares of the company’s stock, valued at $17,332,238.88. The trade was a 9.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

R Stanton Dodge also recently made the following trade(s):

• On Thursday, November 6th, R Stanton Dodge sold 52,777 shares of DraftKings stock. The stock was sold at an average price of $29.00, for a total value of $1,530,533.00.
• On Friday, October 17th, R Stanton Dodge sold 52,777 shares of DraftKings stock. The shares were sold at an average price of $34.57, for a total value of $1,824,500.89.

DraftKings Price Performance

Shares of DKNG opened at $34.55 on Thursday. DraftKings Inc. has a 52 week low of $26.23 and a 52 week high of $53.61. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 2.51. The firm has a market cap of $17.20 billion, a price-to-earnings ratio of -60.61, a PEG ratio of 2.78 and a beta of 1.60. The stock has a 50 day moving average of $32.84 and a 200-day moving average of $38.94.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings results on Friday, November 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.27). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.40 billion. DraftKings had a negative net margin of 4.90% and a negative return on equity of 22.84%. The business’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.60) earnings per share. As a group, analysts forecast that DraftKings Inc. will post 0.64 EPS for the current year.

Institutional Trading of DraftKings

Several large investors have recently added to or reduced their stakes in the business. Helios Capital Management PTE. Ltd. boosted its holdings in shares of DraftKings by 926.0% in the second quarter. Helios Capital Management PTE. Ltd. now owns 114,000 shares of the company’s stock valued at $4,889,000 after acquiring an additional 102,889 shares in the last quarter. Claro Advisors LLC raised its holdings in DraftKings by 121.4% during the second quarter. Claro Advisors LLC now owns 39,915 shares of the company’s stock worth $1,712,000 after purchasing an additional 21,890 shares in the last quarter. Swiss National Bank lifted its position in DraftKings by 10.0% in the second quarter. Swiss National Bank now owns 1,361,964 shares of the company’s stock worth $58,415,000 after purchasing an additional 124,200 shares during the period. K.J. Harrison & Partners Inc bought a new position in DraftKings during the 2nd quarter valued at $1,081,000. Finally, Fortis Capital Advisors LLC bought a new position in DraftKings during the 2nd quarter valued at $535,000. 37.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DKNG. Guggenheim lowered their price objective on shares of DraftKings from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, November 10th. Stifel Nicolaus restated a “buy” rating and issued a $46.00 target price (down from $50.00) on shares of DraftKings in a research note on Monday, November 10th. Deutsche Bank Aktiengesellschaft set a $47.00 price target on DraftKings and gave the stock a “hold” rating in a research report on Friday, August 8th. UBS Group reissued a “buy” rating on shares of DraftKings in a report on Tuesday, November 25th. Finally, Berenberg Bank set a $43.00 price objective on DraftKings and gave the company a “buy” rating in a research report on Thursday, October 9th. Twenty-five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $47.38.

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.