Stephens Inc. AR Cuts Stock Holdings in DraftKings Inc. (NASDAQ:DKNG)

Stephens Inc. AR trimmed its stake in shares of DraftKings Inc. (NASDAQ:DKNGGet Rating) by 23.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,027 shares of the company’s stock after selling 5,100 shares during the period. Stephens Inc. AR’s holdings in DraftKings were worth $332,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DKNG. Compagnie Lombard Odier SCmA purchased a new position in DraftKings during the fourth quarter valued at $27,000. Benjamin Edwards Inc. grew its stake in DraftKings by 99.7% during the fourth quarter. Benjamin Edwards Inc. now owns 1,216 shares of the company’s stock valued at $33,000 after acquiring an additional 607 shares in the last quarter. KRS Capital Management LLC purchased a new position in DraftKings during the fourth quarter valued at $35,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in DraftKings during the fourth quarter valued at $38,000. Finally, Cornerstone Advisory LLC purchased a new position in DraftKings during the fourth quarter valued at $39,000. 33.91% of the stock is owned by hedge funds and other institutional investors.

DraftKings Trading Down 2.7 %

Shares of DKNG opened at $16.36 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.96 and a quick ratio of 2.96. The firm has a market capitalization of $13.12 billion, a price-to-earnings ratio of -4.04 and a beta of 2.03. The company has a 50-day moving average of $13.08 and a 200 day moving average of $16.32. DraftKings Inc. has a 1-year low of $9.77 and a 1-year high of $64.58.

DraftKings (NASDAQ:DKNGGet Rating) last posted its earnings results on Friday, May 6th. The company reported ($1.14) EPS for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.08. The business had revenue of $417.21 million for the quarter, compared to the consensus estimate of $404.20 million. DraftKings had a negative net margin of 117.39% and a negative return on equity of 86.40%. On average, research analysts expect that DraftKings Inc. will post -3.58 EPS for the current year.

Analysts Set New Price Targets

DKNG has been the subject of several research reports. Northland Securities lowered their price objective on shares of DraftKings from $40.00 to $25.00 in a research report on Monday, May 9th. Cowen lowered their price objective on shares of DraftKings from $60.00 to $50.00 in a research report on Wednesday, May 4th. Jefferies Financial Group initiated coverage on shares of DraftKings in a research report on Monday, May 16th. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of DraftKings from $19.00 to $16.00 in a research report on Monday, May 9th. Finally, Loop Capital lowered their price objective on shares of DraftKings from $35.00 to $25.00 in a research report on Monday, May 9th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, DraftKings presently has a consensus rating of “Moderate Buy” and an average price target of $31.73.

DraftKings Profile

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DraftKings Inc operates a digital sports entertainment and gaming company. It offers multi-channel sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. The company operates iGaming through its DraftKings brand in 5 states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand in 3 states.

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Institutional Ownership by Quarter for DraftKings (NASDAQ:DKNG)

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