Key Client Fiduciary Advisors LLC Lowers Stock Holdings in DraftKings Inc. (NASDAQ:DKNG)

Key Client Fiduciary Advisors LLC lowered its holdings in shares of DraftKings Inc. (NASDAQ:DKNGFree Report) by 10.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,481 shares of the company’s stock after selling 916 shares during the quarter. Key Client Fiduciary Advisors LLC’s holdings in DraftKings were worth $264,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Capital CS Group LLC purchased a new position in shares of DraftKings in the fourth quarter valued at approximately $545,000. Campbell Capital Management Inc. purchased a new position in DraftKings during the fourth quarter worth approximately $3,870,000. Diversified Trust Co purchased a new position in DraftKings during the fourth quarter worth approximately $288,000. Harbour Capital Advisors LLC purchased a new position in DraftKings during the fourth quarter worth approximately $355,000. Finally, Anchor Investment Management LLC purchased a new position in DraftKings during the fourth quarter worth approximately $332,000. Hedge funds and other institutional investors own 32.84% of the company’s stock.

DraftKings Stock Performance

Shares of DKNG stock opened at $41.78 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.49. The stock’s 50-day moving average price is $40.26 and its 200 day moving average price is $35.32. DraftKings Inc. has a 52-week low of $17.02 and a 52-week high of $45.62. The stock has a market capitalization of $36.21 billion, a PE ratio of -23.87 and a beta of 1.87.

DraftKings (NASDAQ:DKNGGet Free Report) last posted its earnings results on Friday, February 16th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.16). DraftKings had a negative net margin of 21.88% and a negative return on equity of 87.24%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the previous year, the company posted ($0.53) EPS. DraftKings’s quarterly revenue was up 43.9% compared to the same quarter last year. As a group, equities research analysts forecast that DraftKings Inc. will post -0.24 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Barclays upgraded DraftKings from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $41.00 to $50.00 in a research report on Friday, February 23rd. Morgan Stanley lifted their price objective on DraftKings from $40.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Wells Fargo & Company raised their target price on DraftKings from $39.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. Argus raised their target price on DraftKings from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, November 27th. Finally, Susquehanna raised their target price on DraftKings from $49.00 to $51.00 and gave the stock a “positive” rating in a research note on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.93.

Check Out Our Latest Stock Report on DraftKings

Insiders Place Their Bets

In related news, insider Jason Robins sold 238,629 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $35.65, for a total value of $8,507,123.85. Following the transaction, the insider now directly owns 3,760,519 shares of the company’s stock, valued at approximately $134,062,502.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Jason Robins sold 238,629 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $35.65, for a total value of $8,507,123.85. Following the transaction, the insider now directly owns 3,760,519 shares of the company’s stock, valued at approximately $134,062,502.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider R Stanton Dodge sold 686,101 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $43.06, for a total value of $29,543,509.06. Following the completion of the sale, the insider now owns 200,239 shares of the company’s stock, valued at $8,622,291.34. The disclosure for this sale can be found here. Insiders have sold a total of 1,834,730 shares of company stock valued at $74,192,633 in the last quarter. 51.19% of the stock is currently owned by company insiders.

About DraftKings

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for DraftKings (NASDAQ:DKNG)

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