DraftKings Inc. (NASDAQ:DKNG) Stock Position Trimmed by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. trimmed its stake in shares of DraftKings Inc. (NASDAQ:DKNG) by 11.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,828 shares of the company’s stock after selling 983 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in DraftKings were worth $276,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Highlander Capital Management LLC raised its position in shares of DraftKings by 180.0% during the 4th quarter. Highlander Capital Management LLC now owns 700 shares of the company’s stock worth $25,000 after buying an additional 450 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of DraftKings by 233.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,014 shares of the company’s stock worth $27,000 after buying an additional 710 shares in the last quarter. FSC Wealth Advisors LLC bought a new stake in shares of DraftKings during the 4th quarter worth about $37,000. Householder Group Estate & Retirement Specialist LLC raised its position in shares of DraftKings by 154.2% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 1,215 shares of the company’s stock worth $42,000 after buying an additional 737 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of DraftKings during the 3rd quarter worth about $45,000. 37.70% of the stock is currently owned by institutional investors.

DraftKings Price Performance

NASDAQ DKNG opened at $43.72 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $37.89 billion, a PE ratio of -24.98 and a beta of 1.86. The company has a 50 day moving average price of $43.81 and a two-hundred day moving average price of $37.67. DraftKings Inc. has a 12-month low of $19.10 and a 12-month high of $49.57.

DraftKings (NASDAQ:DKNG) last posted its earnings results on Friday, February 16th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.16). The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. DraftKings had a negative net margin of 21.88% and a negative return on equity of 87.24%. DraftKings’s revenue was up 43.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.53) earnings per share. As a group, equities analysts predict that DraftKings Inc. will post -0.25 earnings per share for the current fiscal year.

Insider Buying and Selling at DraftKings

In other DraftKings news, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction that occurred 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 through this hyperlink. In other news, insider Jason Robins sold 200,000 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider R Stanton Dodge sold 686,101 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $43.06, for a total transaction of $29,543,509.06. Following the completion of the sale, 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. Insiders sold 1,596,101 shares of company stock worth $65,685,509 over the last ninety days. 48.94% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on DKNG shares. Needham & Company LLC lifted their price objective on shares of DraftKings from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Moffett Nathanson lifted their price objective on shares of DraftKings from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Piper Sandler lifted their price objective on shares of DraftKings from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. Oppenheimer lifted their price objective on shares of DraftKings from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Finally, Bank Of America (Bofa) lifted their price objective on shares of DraftKings from $45.00 to $50.00 in a research note on Thursday, February 15th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.46.

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.