DraftKings Inc. (NASDAQ:DKNG) Insider R Stanton Dodge Sells 52,777 Shares

DraftKings Inc. (NASDAQ:DKNG) insider R Stanton Dodge sold 52,777 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $37.62, for a total value of $1,985,470.74. Following the completion of the transaction, the insider now directly owns 706,620 shares of the company’s stock, valued at approximately $26,583,044.40. This trade represents a 6.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, March 17th, R Stanton Dodge sold 52,777 shares of DraftKings stock. The stock was sold at an average price of $39.00, for a total value of $2,058,303.00.

DraftKings Trading Down 4.7 %

DKNG stock traded down $1.82 during midday trading on Tuesday, reaching $36.91. The stock had a trading volume of 7,763,188 shares, compared to its average volume of 9,619,819. The business has a fifty day simple moving average of $42.16 and a two-hundred day simple moving average of $40.21. The company has a quick ratio of 1.00, a current ratio of 0.93 and a debt-to-equity ratio of 1.24. The firm has a market cap of $18.08 billion, a price-to-earnings ratio of -34.82, a PEG ratio of 1.43 and a beta of 2.07. DraftKings Inc. has a twelve month low of $28.69 and a twelve month high of $53.61.

DraftKings (NASDAQ:DKNG) last posted its earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.35). DraftKings had a negative return on equity of 48.13% and a negative net margin of 10.64%. As a group, research analysts expect that DraftKings Inc. will post 0.64 EPS for the current fiscal year.

Hedge Funds Weigh In On DraftKings

Institutional investors and hedge funds have recently modified their holdings of the business. Raiffeisen Bank International AG acquired a new position in shares of DraftKings in the 4th quarter valued at approximately $25,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in DraftKings in the 4th quarter valued at approximately $28,000. Stonebridge Financial Group LLC bought a new stake in shares of DraftKings during the 4th quarter worth approximately $28,000. Synergy Asset Management LLC bought a new stake in shares of DraftKings during the 4th quarter worth approximately $30,000. Finally, Synergy Investment Management LLC bought a new stake in shares of DraftKings during the 4th quarter worth approximately $37,000. 37.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on DKNG shares. Stifel Nicolaus lifted their price objective on DraftKings from $48.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Barclays lifted their price objective on DraftKings from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Canaccord Genuity Group lifted their price objective on DraftKings from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, February 14th. Wells Fargo & Company lifted their price objective on DraftKings from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Finally, Cowen reissued a “buy” rating on shares of DraftKings in a report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.44.

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.