EntryPoint Capital LLC Takes Position in DraftKings Inc. (NASDAQ:DKNG)

EntryPoint Capital LLC purchased a new position in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 12,117 shares of the company's stock, valued at approximately $451,000.

Several other institutional investors also recently added to or reduced their stakes in DKNG. Stonebridge Financial Group LLC purchased a new position in shares of DraftKings during the fourth quarter worth approximately $28,000. Synergy Asset Management LLC acquired a new position in DraftKings in the fourth quarter valued at $30,000. Synergy Investment Management LLC purchased a new stake in shares of DraftKings in the fourth quarter valued at about $37,000. Delos Wealth Advisors LLC acquired a new stake in shares of DraftKings during the third quarter worth about $43,000. Finally, YANKCOM Partnership purchased a new position in shares of DraftKings during the fourth quarter worth about $48,000. Institutional investors and hedge funds own 37.70% of the company's stock.

DraftKings Trading Down 4.7 %

Shares of NASDAQ:DKNG traded down $1.75 during trading on Friday, reaching $35.29. 10,963,475 shares of the stock were exchanged, compared to its average volume of 9,592,788. The firm's 50-day moving average price is $42.01 and its 200 day moving average price is $40.32. The firm has a market cap of $17.29 billion, a price-to-earnings ratio of -33.29, a price-to-earnings-growth ratio of 1.43 and a beta of 2.07. DraftKings Inc. has a 12-month low of $28.69 and a 12-month high of $53.61. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.00 and a current ratio of 0.93.

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DraftKings (NASDAQ:DKNG - Get Free Report) last released its quarterly earnings data 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%. On average, sell-side analysts anticipate that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

Insider Buying and Selling at DraftKings

In other DraftKings news, insider R Stanton Dodge sold 52,777 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $37.62, for a total value of $1,985,470.74. Following the transaction, the insider now owns 706,620 shares in the company, valued at $26,583,044.40. The trade was a 6.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jason Robins sold 200,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $45.00, for a total value of $9,000,000.00. Following the sale, the insider now owns 2,678,613 shares of the company's stock, valued at $120,537,585. This represents a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,775,525 shares of company stock valued at $117,241,446 over the last three months. 51.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

DKNG has been the subject of a number of recent research reports. Piper Sandler reaffirmed an "overweight" rating and set a $60.00 price objective (up from $48.00) on shares of DraftKings in a research report on Tuesday, February 18th. Morgan Stanley increased their price target on DraftKings from $49.00 to $53.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. JMP Securities reissued a "market outperform" rating and issued a $50.00 price objective on shares of DraftKings in a research note on Friday, February 14th. Cowen restated a "buy" rating on shares of DraftKings in a research note on Tuesday, February 4th. Finally, Argus set a $60.00 price target on shares of DraftKings in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, DraftKings currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.42.

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.