Key Points
- DraftKings director Woodrow Levin sold 34,234 shares on May 18 at an average price of $25.71, totaling about $880,156. After the sale, he directly owned 29,820 shares, a 53.45% reduction in his holdings.
- DraftKings stock was down 0.9% and opened at $25.54, with the company trading well below its 52-week high of $48.78. The stock also sits under its 200-day moving average of $28.03.
- Recent earnings were mixed: DraftKings reported $0.20 EPS, slightly missing expectations, but revenue of $1.65 billion beat estimates and rose 16.8% year over year. Analysts currently rate the stock a “Moderate Buy” with a consensus target price of $34.32.
DraftKings Inc. (NASDAQ:DKNG - Get Free Report) Director Woodrow Levin sold 34,234 shares of DraftKings stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $25.71, for a total transaction of $880,156.14. Following the completion of the transaction, the director directly owned 29,820 shares of the company's stock, valued at $766,672.20. This trade represents a 53.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.
DraftKings Trading Down 0.9%
NASDAQ DKNG opened at $25.54 on Wednesday. DraftKings Inc. has a one year low of $20.46 and a one year high of $48.78. The company has a 50-day simple moving average of $23.69 and a 200-day simple moving average of $28.03. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $12.67 billion, a PE ratio of 425.67 and a beta of 1.67.
DraftKings (NASDAQ:DKNG - Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.02). The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.63 billion. DraftKings had a net margin of 0.93% and a return on equity of 13.51%. The company's quarterly revenue was up 16.8% on a year-over-year basis. During the same period last year, the firm posted ($0.07) earnings per share. On average, equities analysts forecast that DraftKings Inc. will post 0.56 earnings per share for the current year.
Institutional Trading of DraftKings
A number of hedge funds and other institutional investors have recently made changes to their positions in DKNG. Integrated Wealth Concepts LLC raised its position in shares of DraftKings by 5.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 9,460 shares of the company's stock worth $314,000 after buying an additional 524 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of DraftKings by 1,141.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,044 shares of the company's stock worth $1,463,000 after buying an additional 40,495 shares in the last quarter. Empowered Funds LLC raised its position in shares of DraftKings by 18.0% during the 1st quarter. Empowered Funds LLC now owns 9,115 shares of the company's stock worth $303,000 after buying an additional 1,391 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of DraftKings during the 2nd quarter worth about $603,000. Finally, Daiwa Securities Group Inc. raised its position in shares of DraftKings by 2.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 44,102 shares of the company's stock worth $1,892,000 after buying an additional 968 shares in the last quarter. 37.70% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have issued reports on DKNG. Wedbush began coverage on shares of DraftKings in a research note on Friday, April 24th. They set an "outperform" rating for the company. UBS Group reduced their target price on shares of DraftKings from $53.00 to $43.00 and set a "buy" rating for the company in a research note on Monday, March 16th. Rothschild & Co Redburn set a $35.00 target price on shares of DraftKings in a research note on Friday, January 30th. The Goldman Sachs Group reduced their target price on shares of DraftKings from $54.00 to $31.00 and set a "buy" rating for the company in a research note on Tuesday, February 17th. Finally, Truist Financial reduced their target price on shares of DraftKings from $33.00 to $30.00 and set a "buy" rating for the company in a research note on Tuesday, April 21st. Twenty-seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $34.32.
Read Our Latest Research Report on DKNG
DraftKings Company Profile
(
Get Free Report)
DraftKings Inc is a leading digital sports entertainment and gaming company specializing in daily fantasy sports, sports betting and iGaming products. The company provides an integrated platform where users can participate in daily fantasy contests, place wagers on professional sports events, and enjoy a range of online casino-style games. DraftKings' proprietary technology supports real-time odds, live scoring and advanced analytics to enhance the user experience across mobile and desktop applications.
Founded in 2012 by co-founders Jason Robins, Matthew Kalish and Paul Liberman, DraftKings began as a daily fantasy sports provider and rapidly expanded into regulated sports betting following legislative changes in the United States.
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