DraftKings (DKNG) Scheduled to Post Quarterly Earnings on Thursday

DraftKings (NASDAQ:DKNGGet Free Report) is scheduled to post its quarterly earnings results after the market closes on Thursday, February 15th. Analysts expect DraftKings to post earnings of $0.08 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

DraftKings Stock Performance

NASDAQ:DKNG opened at $43.61 on Tuesday. DraftKings has a 1 year low of $15.69 and a 1 year high of $44.04. The firm has a 50 day moving average of $36.83 and a 200-day moving average of $33.10. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $37.47 billion, a P/E ratio of -20.00 and a beta of 1.87.

Insider Transactions at DraftKings

In related news, insider R Stanton Dodge sold 686,101 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $43.06, for a total transaction of $29,543,509.06. Following the transaction, the insider now directly owns 200,239 shares in the company, valued at $8,622,291.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Jason Park sold 750,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $38.27, for a total transaction of $28,702,500.00. Following the sale, the chief financial officer now owns 105,217 shares of the company’s stock, valued at approximately $4,026,654.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R Stanton Dodge sold 686,101 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $43.06, for a total transaction of $29,543,509.06. Following the completion of the transaction, the insider now directly owns 200,239 shares in the company, valued at approximately $8,622,291.34. The disclosure for this sale can be found here. Insiders sold a total of 3,390,485 shares of company stock valued at $132,291,151 over the last three months. Corporate insiders own 51.19% of the company’s stock.

Hedge Funds Weigh In On DraftKings

Institutional investors and hedge funds have recently made changes to their positions in the business. AJ Wealth Strategies LLC purchased a new stake in shares of DraftKings in the 1st quarter worth about $306,000. MetLife Investment Management LLC bought a new stake in DraftKings during the 1st quarter valued at about $387,000. Panagora Asset Management Inc. grew its stake in shares of DraftKings by 49.0% in the first quarter. Panagora Asset Management Inc. now owns 29,993 shares of the company’s stock worth $584,000 after acquiring an additional 9,866 shares during the period. Cibc World Market Inc. grew its stake in shares of DraftKings by 26.2% in the first quarter. Cibc World Market Inc. now owns 21,719 shares of the company’s stock worth $423,000 after acquiring an additional 4,512 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of DraftKings by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 49,464 shares of the company’s stock worth $963,000 after buying an additional 1,270 shares during the last quarter. Institutional investors own 32.84% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. BNP Paribas cut shares of DraftKings from a “neutral” rating to an “underperform” rating and set a $28.00 target price for the company. in a research report on Friday, January 19th. Benchmark raised their target price on shares of DraftKings from $37.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th. Stifel Nicolaus raised shares of DraftKings from a “hold” rating to a “buy” rating and raised their target price for the stock from $40.00 to $45.00 in a report on Friday, January 19th. BMO Capital Markets initiated coverage on shares of DraftKings in a research note on Tuesday, January 9th. They issued an “outperform” rating and a $43.00 price objective on the stock. Finally, Truist Financial lifted their price objective on shares of DraftKings from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat, DraftKings currently has an average rating of “Moderate Buy” and a consensus price target of $38.56.

View Our Latest Research Report on DKNG

DraftKings Company Profile

(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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Earnings History for DraftKings (NASDAQ:DKNG)

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