Schechter Investment Advisors LLC lowered its position in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 48.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,510 shares of the company's stock after selling 7,863 shares during the quarter. Schechter Investment Advisors LLC's holdings in DraftKings were worth $317,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Stonebridge Financial Group LLC purchased a new position in DraftKings in the 4th quarter worth approximately $28,000. Synergy Asset Management LLC bought a new stake in shares of DraftKings during the 4th quarter worth $30,000. Delos Wealth Advisors LLC purchased a new position in DraftKings in the third quarter worth $43,000. YANKCOM Partnership bought a new position in DraftKings in the fourth quarter valued at $48,000. Finally, Toth Financial Advisory Corp purchased a new stake in DraftKings during the fourth quarter valued at about $58,000. Hedge funds and other institutional investors own 37.70% of the company's stock.
Insider Transactions at DraftKings
In related news, insider Matthew Kalish sold 210,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $40.61, for a total value of $8,528,100.00. Following the completion of the transaction, the insider now directly owns 4,140,509 shares in the company, valued at $168,146,070.49. The trade was a 4.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alan Wayne Ellingson sold 158,661 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $42.42, for a total value of $6,730,399.62. Following the sale, the chief financial officer now owns 179,435 shares in the company, valued at approximately $7,611,632.70. This represents a 46.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,783,488 shares of company stock valued at $118,128,867 in the last quarter. 51.19% of the stock is owned by insiders.
DraftKings Stock Down 1.7 %
Shares of NASDAQ DKNG traded down $0.69 on Friday, reaching $39.41. 20,415,107 shares of the company's stock traded hands, compared to its average volume of 9,584,424. The business's 50 day simple moving average is $42.06 and its two-hundred day simple moving average is $40.04. DraftKings Inc. has a 12 month low of $28.69 and a 12 month high of $53.61. The company has a market cap of $19.31 billion, a price-to-earnings ratio of -37.18, a price-to-earnings-growth ratio of 1.43 and a beta of 2.07. The company has a quick ratio of 1.00, a current ratio of 0.93 and a debt-to-equity ratio of 1.24.
DraftKings (NASDAQ:DKNG - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.35). DraftKings had a negative net margin of 10.64% and a negative return on equity of 48.13%. As a group, equities research analysts forecast that DraftKings Inc. will post 0.64 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on DKNG shares. JPMorgan Chase & Co. upped their price objective on DraftKings from $53.00 to $61.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Argus set a $60.00 price target on shares of DraftKings in a research report on Tuesday, February 18th. Benchmark boosted their price objective on shares of DraftKings from $44.00 to $51.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Barclays upped their price objective on shares of DraftKings from $50.00 to $60.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Finally, Morgan Stanley lifted their target price on shares of DraftKings from $49.00 to $53.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, DraftKings presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.44.
Check Out Our Latest Report on DKNG
DraftKings Profile
(
Free Report)
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.
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