DraftKings Inc. (NASDAQ:DKNG) Director Jocelyn Moore Sells 1,450 Shares

DraftKings Inc. (NASDAQ:DKNGGet Free Report) Director Jocelyn Moore sold 1,450 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $35.92, for a total value of $52,084.00. Following the completion of the sale, the director now owns 6,814 shares in the company, valued at approximately $244,758.88. The transaction was disclosed in a filing with the SEC, which is available at this link.

DraftKings Stock Down 1.8 %

Shares of DKNG opened at $36.89 on Friday. DraftKings Inc. has a 52-week low of $24.16 and a 52-week high of $49.57. The company has a market capitalization of $32.07 billion, a PE ratio of -31.26 and a beta of 1.81. The stock has a fifty day simple moving average of $42.03 and a two-hundred day simple moving average of $40.33. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.51.

DraftKings (NASDAQ:DKNGGet Free Report) last issued its earnings results on Thursday, May 2nd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.02). The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.12 billion. DraftKings had a negative return on equity of 62.74% and a negative net margin of 13.45%. The firm’s revenue was up 52.7% compared to the same quarter last year. During the same period last year, the business earned ($0.87) earnings per share. As a group, equities analysts forecast that DraftKings Inc. will post -0.21 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on DKNG. Moffett Nathanson upped their price objective on DraftKings from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Stifel Nicolaus lowered their price objective on DraftKings from $51.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. JMP Securities restated a “market outperform” rating and issued a $52.00 price objective on shares of DraftKings in a research report on Monday, March 25th. BMO Capital Markets increased their target price on DraftKings from $51.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Finally, The Goldman Sachs Group initiated coverage on DraftKings in a research report on Tuesday, April 16th. They set a “buy” rating and a $60.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, DraftKings has an average rating of “Moderate Buy” and an average price target of $49.00.

Read Our Latest Research Report on DKNG

Institutional Trading of DraftKings

Hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in shares of DraftKings during the 4th quarter worth about $7,975,000. Deutsche Bank AG increased its position in shares of DraftKings by 169.1% during the 3rd quarter. Deutsche Bank AG now owns 1,338,075 shares of the company’s stock worth $39,393,000 after purchasing an additional 840,755 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of DraftKings during the 3rd quarter worth about $209,000. Schonfeld Strategic Advisors LLC increased its position in shares of DraftKings by 27.6% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 296,900 shares of the company’s stock worth $8,741,000 after purchasing an additional 64,186 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of DraftKings by 1.1% during the 4th quarter. Arizona State Retirement System now owns 114,767 shares of the company’s stock worth $4,046,000 after purchasing an additional 1,237 shares during the last quarter. 37.70% of the stock is owned by institutional investors and hedge funds.

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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Insider Buying and Selling by Quarter for DraftKings (NASDAQ:DKNG)

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