DraftKings (NASDAQ:DKNG – Get Free Report) released its quarterly earnings results on Thursday. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.02), Briefing.com reports. DraftKings had a negative return on equity of 61.75% and a negative net margin of 13.45%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the business posted ($0.87) earnings per share. The business’s revenue for the quarter was up 52.7% on a year-over-year basis.
DraftKings Price Performance
NASDAQ:DKNG opened at $41.82 on Friday. The stock’s 50-day moving average is $43.58 and its 200-day moving average is $38.78. DraftKings has a 1-year low of $21.07 and a 1-year high of $49.57. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.34 and a current ratio of 1.34.
Insider Activity at DraftKings
In other DraftKings news, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $40.89, for a total transaction of $8,178,000.00. Following the sale, the insider now directly owns 3,195,812 shares of the company’s stock, valued at approximately $130,676,752.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $40.89, for a total transaction of $8,178,000.00. Following the completion of the transaction, the insider now directly owns 3,195,812 shares of the company’s stock, valued at approximately $130,676,752.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider R Stanton Dodge sold 686,101 shares of the company’s stock in a transaction dated 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 owns 200,239 shares in the company, valued at approximately $8,622,291.34. The disclosure for this sale can be found here. Insiders sold a total of 1,086,101 shares of company stock worth $45,903,509 in the last quarter. 51.19% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Read Our Latest Stock Analysis on DKNG
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.
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