Interchange Capital Partners LLC Has $292,000 Stock Holdings in DraftKings Inc. (NASDAQ:DKNG)

Interchange Capital Partners LLC decreased its holdings in shares of DraftKings Inc. (NASDAQ:DKNGFree Report) by 18.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,296 shares of the company’s stock after selling 1,823 shares during the period. Interchange Capital Partners LLC’s holdings in DraftKings were worth $292,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Marshall Wace LLP raised its holdings in shares of DraftKings by 298.2% in the second quarter. Marshall Wace LLP now owns 1,114,676 shares of the company’s stock valued at $29,617,000 after purchasing an additional 834,719 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in shares of DraftKings by 27.6% in the third quarter. Schonfeld Strategic Advisors LLC now owns 296,900 shares of the company’s stock valued at $8,741,000 after purchasing an additional 64,186 shares during the last quarter. Asset Management One Co. Ltd. purchased a new stake in shares of DraftKings in the third quarter valued at about $4,502,000. QRG Capital Management Inc. purchased a new stake in shares of DraftKings in the third quarter valued at about $859,000. Finally, Jericho Capital Asset Management L.P. raised its holdings in shares of DraftKings by 68.1% in the second quarter. Jericho Capital Asset Management L.P. now owns 5,131,967 shares of the company’s stock valued at $136,356,000 after purchasing an additional 2,079,676 shares during the last quarter. Institutional investors and hedge funds own 32.84% of the company’s stock.

Insider Activity at DraftKings

In other DraftKings news, insider Jason Robins sold 238,629 shares of DraftKings stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $35.65, for a total transaction of $8,507,123.85. Following the transaction, the insider now directly owns 3,760,519 shares of the company’s stock, valued at $134,062,502.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider R Stanton Dodge sold 686,101 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $43.06, for a total value of $29,543,509.06. Following the transaction, the insider now owns 200,239 shares in the company, valued at $8,622,291.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason Robins sold 238,629 shares of the company’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $35.65, for a total transaction of $8,507,123.85. Following the sale, the insider now owns 3,760,519 shares of the company’s stock, valued at $134,062,502.35. The disclosure for this sale can be found here. Insiders have sold 1,834,730 shares of company stock valued at $74,192,633 over the last three months. 51.19% of the stock is owned by corporate insiders.

DraftKings Trading Down 0.8 %

Shares of DKNG opened at $41.78 on Friday. The firm’s 50 day simple moving average is $40.26 and its 200 day simple moving average is $35.32. The company has a market capitalization of $36.21 billion, a P/E ratio of -23.87 and a beta of 1.87. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.34 and a quick ratio of 1.34. DraftKings Inc. has a 1-year low of $17.02 and a 1-year high of $45.62.

DraftKings (NASDAQ:DKNGGet Free Report) last announced its earnings results on Friday, February 16th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.16). The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. DraftKings had a negative net margin of 21.88% and a negative return on equity of 87.24%. The company’s revenue for the quarter was up 43.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.53) earnings per share. Sell-side analysts forecast that DraftKings Inc. will post -0.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DKNG has been the subject of several analyst reports. Oppenheimer increased their target price on shares of DraftKings from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Truist Financial restated a “buy” rating and set a $55.00 price target (up previously from $45.00) on shares of DraftKings in a research report on Tuesday, February 20th. Needham & Company LLC restated a “buy” rating and set a $54.00 price target (up previously from $50.00) on shares of DraftKings in a research report on Friday, February 16th. Argus increased their price target on shares of DraftKings from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, November 27th. Finally, BNP Paribas lowered shares of DraftKings from a “neutral” rating to an “underperform” rating and set a $28.00 price target for the company. in a research report on Friday, January 19th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, DraftKings currently has an average rating of “Moderate Buy” and a consensus price target of $43.93.

View Our Latest Report on DraftKings

DraftKings Profile

(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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Want to see what other hedge funds are holding DKNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DraftKings Inc. (NASDAQ:DKNGFree Report).

Institutional Ownership by Quarter for DraftKings (NASDAQ:DKNG)

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