Orion Portfolio Solutions LLC Sells 1,255 Shares of DraftKings Inc. (NASDAQ:DKNG)

Orion Portfolio Solutions LLC trimmed its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 11.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,699 shares of the company’s stock after selling 1,255 shares during the period. Orion Portfolio Solutions LLC’s holdings in DraftKings were worth $361,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Stonebridge Financial Group LLC bought a new stake in DraftKings during the fourth quarter valued at about $28,000. Synergy Asset Management LLC acquired a new stake in DraftKings in the 4th quarter valued at $30,000. Synergy Investment Management LLC bought a new stake in shares of DraftKings in the 4th quarter worth about $37,000. YANKCOM Partnership bought a new stake in DraftKings during the fourth quarter worth about $48,000. Finally, Toth Financial Advisory Corp bought a new stake in DraftKings during the 4th quarter worth approximately $58,000. Institutional investors own 37.70% of the company’s stock.

DraftKings Trading Down 3.0 %

DKNG stock opened at $31.89 on Wednesday. The stock has a market cap of $15.94 billion, a price-to-earnings ratio of -30.08, a price-to-earnings-growth ratio of 1.43 and a beta of 2.16. The company has a fifty day moving average price of $40.65 and a two-hundred day moving average price of $40.02. DraftKings Inc. has a one year low of $28.69 and a one year high of $53.61. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.93 and a quick ratio of 1.00.

DraftKings (NASDAQ:DKNG) last announced its earnings results 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 return on equity of 48.13% and a negative net margin of 10.64%. Equities analysts anticipate that DraftKings Inc. will post 0.64 EPS for the current year.

Insiders Place Their Bets

In other news, insider R Stanton Dodge sold 52,777 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $37.62, for a total value of $1,985,470.74. Following the completion of the transaction, the insider now directly owns 706,620 shares in the company, valued at approximately $26,583,044.40. The trade was a 6.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Liberman sold 200,000 shares of DraftKings stock in a transaction on Friday, January 10th. The shares were sold at an average price of $39.00, for a total value of $7,800,000.00. Following the completion of the transaction, the insider now owns 1,342,722 shares in the company, valued at approximately $52,366,158. The trade was a 12.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,775,525 shares of company stock worth $117,241,446 in the last quarter. Corporate insiders own 47.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DKNG. TD Cowen decreased their price objective on shares of DraftKings from $55.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Truist Financial lifted their price objective on DraftKings from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Susquehanna cut their target price on shares of DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Benchmark raised their price target on DraftKings from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Finally, Barclays raised their price objective on shares of DraftKings from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Three research 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, DraftKings presently has an average rating of “Moderate Buy” and a consensus price target of $54.69.

DraftKings Company Profile

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.