Key Points
- R. Stanton Dodge sold 52,777 DraftKings shares on Dec. 1 at an average price of $33.84 for roughly $1.79M, leaving him with 512,182 shares and a 9.34% reduction in his ownership.
- The Dec. 1 sale is part of a string of identical-size disposals — the same 52,777-share blocks were sold on Oct. 17 (avg $34.57) and Nov. 6 (avg $29.00) — signaling continued insider selling.
- DraftKings recently missed quarterly expectations (EPS -$0.26 vs. $0.01 expected; revenue $1.14B vs. $1.40B expected), prompting several price-target cuts even as analysts' consensus remains a “Moderate Buy” with an average target near $47.38.
DraftKings Inc. (NASDAQ:DKNG - Get Free Report) 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 owned 512,182 shares in the company, valued at approximately $17,332,238.88. The trade was a 9.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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 shares were sold at an average price of $29.00, for a total transaction of $1,530,533.00.
- On Friday, October 17th, R Stanton Dodge sold 52,777 shares of DraftKings stock. The stock was sold at an average price of $34.57, for a total transaction of $1,824,500.89.
DraftKings Stock Performance
Shares of DKNG stock opened at $33.61 on Wednesday. The firm has a market cap of $16.73 billion, a price-to-earnings ratio of -58.96, a PEG ratio of 2.81 and a beta of 1.60. The company's 50 day moving average is $33.01 and its 200 day moving average is $38.97. The company has a quick ratio of 1.09, a current ratio of 1.10 and a debt-to-equity ratio of 2.51. DraftKings Inc. has a 52-week low of $26.23 and a 52-week high of $53.61.
DraftKings (NASDAQ:DKNG - Get Free Report) last posted its earnings results on Friday, November 7th. The company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.27). The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.40 billion. DraftKings had a negative return on equity of 22.84% and a negative net margin of 4.90%.The firm's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.60) EPS. On average, sell-side analysts anticipate that DraftKings Inc. will post 0.64 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages recently weighed in on DKNG. Guggenheim dropped their price objective on DraftKings from $55.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, November 10th. Macquarie decreased their price target on shares of DraftKings from $50.00 to $48.00 and set an "outperform" rating for the company in a research report on Monday, November 10th. Bank of America cut shares of DraftKings from a "buy" rating to a "neutral" rating and lowered their price target for the company from $48.00 to $35.00 in a report on Tuesday, November 4th. Barclays cut their price objective on shares of DraftKings from $54.00 to $40.00 and set an "overweight" rating on the stock in a research report on Monday, November 10th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of DraftKings in a research note on Wednesday, October 8th. Twenty-five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $47.38.
View Our Latest Stock Report on DraftKings
Institutional Investors Weigh In On DraftKings
A number of large investors have recently modified their holdings of DKNG. IHT Wealth Management LLC increased its holdings in shares of DraftKings by 4.1% during the second quarter. IHT Wealth Management LLC now owns 6,271 shares of the company's stock valued at $269,000 after acquiring an additional 248 shares in the last quarter. Brooklyn Investment Group grew its position in DraftKings by 7.3% during the 1st quarter. Brooklyn Investment Group now owns 3,987 shares of the company's stock worth $132,000 after purchasing an additional 270 shares during the last quarter. TD Private Client Wealth LLC increased its stake in DraftKings by 54.4% during the 2nd quarter. TD Private Client Wealth LLC now owns 800 shares of the company's stock valued at $34,000 after purchasing an additional 282 shares in the last quarter. Farther Finance Advisors LLC increased its stake in DraftKings by 9.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,413 shares of the company's stock valued at $146,000 after purchasing an additional 286 shares in the last quarter. Finally, Orion Porfolio Solutions LLC raised its holdings in shares of DraftKings by 3.1% in the third quarter. Orion Porfolio Solutions LLC now owns 10,608 shares of the company's stock worth $397,000 after buying an additional 321 shares during the last quarter. Hedge funds and other institutional investors own 37.70% of the company's stock.
About DraftKings
(
Get 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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