DraftKings Inc. (NASDAQ:DKNG) Director Jocelyn Moore Sells 3,420 Shares

DraftKings Inc. (NASDAQ:DKNG) Director Jocelyn Moore sold 3,420 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $42.00, for a total value of $143,640.00. Following the sale, the director now directly owns 1,612 shares in the company, valued at approximately $67,704. The trade was a 67.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

DraftKings Trading Down 5.5 %

DraftKings stock opened at $37.24 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 0.93 and a debt-to-equity ratio of 1.24. DraftKings Inc. has a 52 week low of $28.69 and a 52 week high of $53.61. The company has a market capitalization of $18.25 billion, a price-to-earnings ratio of -35.13, a price-to-earnings-growth ratio of 1.43 and a beta of 2.07. The stock has a 50-day moving average price of $42.06 and a 200 day moving average price of $40.08.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.35). DraftKings had a negative net margin of 10.64% and a negative return on equity of 48.13%. Sell-side analysts anticipate that DraftKings Inc. will post 0.64 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DKNG. Macquarie raised their price objective on DraftKings from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Stifel Nicolaus raised their price objective on DraftKings from $48.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. TD Cowen dropped their price objective on DraftKings from $55.00 to $51.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Benchmark raised their price objective on DraftKings from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Monday. Finally, Susquehanna dropped their price objective on DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.44.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Raiffeisen Bank International AG purchased a new position in DraftKings during the fourth quarter valued at approximately $25,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in DraftKings during the fourth quarter valued at approximately $28,000. Stonebridge Financial Group LLC purchased a new position in DraftKings during the fourth quarter valued at approximately $28,000. Synergy Asset Management LLC purchased a new position in DraftKings during the fourth quarter valued at approximately $30,000. Finally, Synergy Investment Management LLC purchased a new stake in shares of DraftKings in the fourth quarter valued at approximately $37,000. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

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.