5,740 Shares in DraftKings Inc. (NASDAQ:DKNG) Bought by Latitude Advisors LLC

Latitude Advisors LLC purchased a new stake in shares of DraftKings Inc. (NASDAQ:DKNG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,740 shares of the company’s stock, valued at approximately $202,000.

Several other hedge funds have also bought and sold shares of the stock. Fifth Third Bancorp boosted its holdings in DraftKings by 8.3% in the 4th quarter. Fifth Third Bancorp now owns 4,331 shares of the company’s stock worth $153,000 after buying an additional 331 shares during the period. Cornerstone Wealth Management LLC increased its holdings in DraftKings by 4.4% in the 4th quarter. Cornerstone Wealth Management LLC now owns 8,082 shares of the company’s stock valued at $285,000 after acquiring an additional 341 shares during the last quarter. Signaturefd LLC grew its holdings in DraftKings by 7.6% during the 3rd quarter. Signaturefd LLC now owns 5,350 shares of the company’s stock valued at $158,000 after buying an additional 379 shares in the last quarter. Stratos Wealth Advisors LLC lifted its position in DraftKings by 3.8% during the fourth quarter. Stratos Wealth Advisors LLC now owns 10,289 shares of the company’s stock valued at $363,000 after purchasing an additional 381 shares during the last quarter. Finally, Gables Capital Management Inc. increased its holdings in shares of DraftKings by 2.2% in the 3rd quarter. Gables Capital Management Inc. now owns 18,330 shares of the company’s stock worth $540,000 after buying an additional 400 shares during the last quarter. Institutional investors own 37.70% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $37.82, for a total transaction of $7,564,000.00. Following the sale, the insider now directly owns 3,815,698 shares of the company’s stock, valued at $144,309,698.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider R Stanton Dodge sold 686,101 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $43.06, for a total transaction of $29,543,509.06. Following the sale, the insider now directly owns 200,239 shares in the company, valued at approximately $8,622,291.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $37.82, for a total transaction of $7,564,000.00. Following the completion of the sale, the insider now directly owns 3,815,698 shares of the company’s stock, valued at approximately $144,309,698.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,596,101 shares of company stock valued at $65,685,509. Company insiders own 51.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Needham & Company LLC lifted their price objective on shares of DraftKings from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Oppenheimer upped their price target on shares of DraftKings from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Wells Fargo & Company raised their price objective on shares of DraftKings from $39.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. BMO Capital Markets upped their target price on DraftKings from $43.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Finally, Mizuho assumed coverage on shares of DraftKings in a research note on Tuesday, March 26th. They issued a “buy” rating and a $58.00 price target on the stock. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, DraftKings presently has an average rating of “Moderate Buy” and a consensus target price of $46.93.

DraftKings Stock Down 6.1 %

DraftKings stock opened at $42.21 on Thursday. The business’s 50-day simple moving average is $43.86 and its two-hundred day simple moving average is $37.81. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market cap of $36.58 billion, a PE ratio of -24.12 and a beta of 1.86. DraftKings Inc. has a fifty-two week low of $19.73 and a fifty-two week high of $49.57.

DraftKings (NASDAQ:DKNG) last issued its earnings results on Friday, February 16th. The company reported ($0.10) 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 firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the company earned ($0.53) EPS. DraftKings’s quarterly revenue was up 43.9% on a year-over-year basis. Equities analysts anticipate that DraftKings Inc. will post -0.25 EPS for the current year.

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.