DraftKings Inc. (NASDAQ:DKNG) Holdings Decreased by Qsemble Capital Management LP

Qsemble Capital Management LP lowered its stake in DraftKings Inc. (NASDAQ:DKNG) by 41.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 33,551 shares of the company’s stock after selling 23,283 shares during the quarter. Qsemble Capital Management LP’s holdings in DraftKings were worth $1,315,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. LRI Investments LLC acquired a new stake in shares of DraftKings in the 1st quarter worth approximately $31,000. Alta Advisers Ltd bought a new stake in DraftKings during the second quarter worth approximately $38,000. Redwood Wealth Management Group LLC acquired a new stake in DraftKings in the second quarter worth approximately $39,000. St. Johns Investment Management Company LLC bought a new position in DraftKings during the 2nd quarter valued at $46,000. Finally, V Square Quantitative Management LLC acquired a new position in shares of DraftKings during the 3rd quarter valued at $46,000. Institutional investors own 37.70% of the company’s stock.

Analyst Ratings Changes

DKNG has been the subject of several research analyst reports. Wells Fargo & Company upped their price objective on DraftKings from $47.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. BNP Paribas raised shares of DraftKings from an “underperform” rating to a “neutral” rating and set a $35.00 price target for the company in a report on Tuesday, September 10th. Mizuho lifted their price objective on shares of DraftKings from $54.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. UBS Group increased their target price on shares of DraftKings from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Susquehanna raised their target price on shares of DraftKings from $48.00 to $50.00 and gave the stock a “positive” rating in a report on Monday, October 7th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.85.

DraftKings Stock Down 0.2 %

DKNG opened at $43.00 on Tuesday. The company has a market capitalization of $37.87 billion, a PE ratio of -48.86 and a beta of 1.82. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. DraftKings Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $49.57. The business has a 50-day moving average of $39.02 and a 200-day moving average of $37.89.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.18). The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. Equities research analysts forecast that DraftKings Inc. will post -0.79 EPS for the current fiscal year.

Insider Activity at DraftKings

In other DraftKings news, insider Jason Robins sold 3,151 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $43.71, for a total transaction of $137,730.21. Following the transaction, the insider now owns 2,631,033 shares in the company, valued at $115,002,452.43. This trade represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul Liberman sold 643,654 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $41.24, for a total transaction of $26,544,290.96. Following the completion of the sale, the insider now owns 137,308 shares of the company’s stock, valued at $5,662,581.92. The trade was a 82.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 735,246 shares of company stock valued at $29,902,158. Insiders own 48.94% of the company’s stock.

About DraftKings

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.