Sigma Planning Corp Has $663,000 Stock Position in DraftKings Inc. (NASDAQ:DKNG)

Sigma Planning Corp reduced its stake in shares of DraftKings Inc. (NASDAQ:DKNG) by 46.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 18,797 shares of the company’s stock after selling 16,068 shares during the period. Sigma Planning Corp’s holdings in DraftKings were worth $663,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of DKNG. Vanguard Group Inc. increased its holdings in DraftKings by 0.3% during the third quarter. Vanguard Group Inc. now owns 37,038,159 shares of the company’s stock worth $1,090,403,000 after buying an additional 109,406 shares during the last quarter. Jericho Capital Asset Management L.P. boosted its position in DraftKings by 39.4% during the third quarter. Jericho Capital Asset Management L.P. now owns 7,153,967 shares of the company’s stock worth $210,613,000 after purchasing an additional 2,022,000 shares during the period. Ameriprise Financial Inc. boosted its position in DraftKings by 345.7% during the third quarter. Ameriprise Financial Inc. now owns 4,440,494 shares of the company’s stock worth $130,742,000 after purchasing an additional 3,444,107 shares during the period. Massachusetts Financial Services Co. MA bought a new position in DraftKings during the third quarter worth $107,276,000. Finally, Lord Abbett & CO. LLC bought a new position in DraftKings during the third quarter worth $91,790,000. 37.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Paul Liberman sold 510,000 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $40.00, for a total value of $20,400,000.00. Following the transaction, the insider now directly owns 2,291,406 shares in the company, valued at approximately $91,656,240. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Paul Liberman sold 510,000 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $40.00, for a total value of $20,400,000.00. Following the transaction, the insider now directly owns 2,291,406 shares in the company, valued at approximately $91,656,240. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider R Stanton Dodge sold 686,101 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $43.06, for a total value of $29,543,509.06. Following the completion of the transaction, the insider now owns 200,239 shares in the company, valued at $8,622,291.34. The disclosure for this sale can be found here. Insiders have sold a total of 1,596,101 shares of company stock worth $66,303,509 in the last ninety days. Corporate insiders own 51.19% of the company’s stock.

DraftKings Price Performance

DraftKings stock opened at $40.85 on Thursday. DraftKings Inc. has a 52-week low of $20.26 and a 52-week high of $49.57. The stock’s 50 day moving average price is $43.63 and its two-hundred day moving average price is $38.24. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.34 and a current ratio of 1.34.

DraftKings (NASDAQ:DKNG) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $1.24 billion. DraftKings had a negative return on equity of 87.24% and a negative net margin of 21.88%. DraftKings’s quarterly revenue was up 43.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.53) earnings per share. As a group, equities analysts forecast that DraftKings Inc. will post -0.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. BMO Capital Markets lifted their price objective on shares of DraftKings from $43.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Stifel Nicolaus raised shares of DraftKings from a “hold” rating to a “buy” rating and boosted their target price for the company from $40.00 to $45.00 in a research report on Friday, January 19th. Oppenheimer boosted their target price on shares of DraftKings from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Needham & Company LLC boosted their target price on shares of DraftKings from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Finally, Susquehanna boosted their target price on shares of DraftKings from $51.00 to $54.00 and gave the company a “positive” rating in a research report on Monday, March 25th. Two analysts have rated the stock with a sell rating, one has given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, DraftKings presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.31.

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.