RFG Advisory LLC Has $253,000 Holdings in DraftKings Inc. (NASDAQ:DKNG)

RFG Advisory LLC cut its stake in DraftKings Inc. (NASDAQ:DKNG) by 8.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,172 shares of the company’s stock after selling 704 shares during the period. RFG Advisory LLC’s holdings in DraftKings were worth $253,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DKNG. Deutsche Bank AG lifted its position in 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 buying an additional 840,755 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in shares of DraftKings in the 3rd quarter valued at about $209,000. Schonfeld Strategic Advisors LLC raised its holdings in shares of DraftKings by 27.6% in the 3rd 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 period. Arizona State Retirement System raised its holdings in shares of DraftKings by 1.1% in the 4th quarter. Arizona State Retirement System now owns 114,767 shares of the company’s stock valued at $4,046,000 after purchasing an additional 1,237 shares during the period. Finally, Asset Management One Co. Ltd. bought a new stake in shares of DraftKings in the 3rd quarter valued at about $4,502,000. 37.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Oppenheimer upped their price target on shares of DraftKings from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. BNP Paribas lowered shares of DraftKings from a “neutral” rating to an “underperform” rating and set a $28.00 price target on the stock. in a research note on Friday, January 19th. JPMorgan Chase & Co. restated an “overweight” rating and set a $55.00 target price on shares of DraftKings in a research report on Thursday, March 28th. JMP Securities restated a “market outperform” rating and set a $52.00 target price on shares of DraftKings in a research report on Monday, March 25th. Finally, Susquehanna increased their target price on shares of DraftKings from $51.00 to $54.00 and gave the stock a “positive” rating in a research report on Monday, March 25th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, DraftKings presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.46.

Insiders Place Their Bets

In other DraftKings news, insider R Stanton Dodge sold 686,101 shares of the firm’s stock in a transaction 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 completion of the sale, 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 Securities & Exchange Commission, which is available at the SEC website. In other DraftKings news, insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $40.89, for a total value of $8,178,000.00. Following the completion of the sale, the insider now directly owns 3,195,812 shares in the company, valued at $130,676,752.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R Stanton Dodge sold 686,101 shares of DraftKings 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 owns 200,239 shares of the company’s stock, valued at $8,622,291.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,596,101 shares of company stock worth $65,685,509. 51.19% of the stock is currently owned by company insiders.

DraftKings Price Performance

Shares of NASDAQ DKNG opened at $44.22 on Friday. DraftKings Inc. has a twelve month low of $18.63 and a twelve month high of $49.57. The firm has a fifty day simple moving average of $43.77 and a 200 day simple moving average of $37.51. The company has a market capitalization of $38.32 billion, a PE ratio of -25.27 and a beta of 1.86. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.49.

DraftKings (NASDAQ:DKNG) 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). DraftKings had a negative return on equity of 87.24% and a negative net margin of 21.88%. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the business earned ($0.53) EPS. DraftKings’s quarterly revenue was up 43.9% on a year-over-year basis. On average, sell-side analysts forecast that DraftKings Inc. will post -0.25 EPS for the current year.

About DraftKings

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.