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 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 transaction, the insider directly owned 512,182 shares in the company, valued at $17,332,238.88. This trade represents a 9.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 Trading Down 0.8%

Shares of NASDAQ DKNG traded down $0.26 during midday trading on Tuesday, hitting $33.61. 10,655,719 shares of the stock traded hands, compared to its average volume of 17,719,844. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 2.51. DraftKings Inc. has a one year low of $26.23 and a one year high of $53.61. The business has a 50 day moving average price of $33.21 and a two-hundred day moving average price of $38.99.

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

Institutional Investors Weigh In On DraftKings

Several large investors have recently made changes to their positions in DKNG. Natixis Advisors LLC grew its position in DraftKings by 55.8% during the first quarter. Natixis Advisors LLC now owns 70,367 shares of the company’s stock valued at $2,337,000 after buying an additional 25,191 shares during the period. Commerce Bank raised its position in DraftKings by 32.0% in the first quarter. Commerce Bank now owns 30,053 shares of the company’s stock worth $998,000 after acquiring an additional 7,280 shares during the period. PNC Financial Services Group Inc. boosted its stake in DraftKings by 21.5% in the first quarter. PNC Financial Services Group Inc. now owns 43,315 shares of the company’s stock valued at $1,438,000 after acquiring an additional 7,652 shares during the last quarter. Bank of Nova Scotia grew its position in shares of DraftKings by 32.3% during the 1st quarter. Bank of Nova Scotia now owns 13,416 shares of the company’s stock valued at $446,000 after acquiring an additional 3,273 shares during the period. Finally, Blair William & Co. IL increased its stake in shares of DraftKings by 2,857.0% during the 1st quarter. Blair William & Co. IL now owns 561,854 shares of the company’s stock worth $18,659,000 after purchasing an additional 542,853 shares during the last quarter. 37.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DKNG has been the subject of several recent research reports. Guggenheim lowered their target price on shares of DraftKings from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, November 10th. Wells Fargo & Company assumed coverage on DraftKings in a report on Tuesday, November 18th. They set an “equal weight” rating and a $31.00 price objective for the company. BTIG Research dropped their target price on DraftKings from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Oppenheimer cut their target price on DraftKings from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 1st. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $46.00 price target (down from $50.00) on shares of DraftKings in a research report on Monday, November 10th. Twenty-five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, DraftKings has a consensus rating of “Moderate Buy” and an average price target 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.