R Stanton Dodge Sells 52,777 Shares of DraftKings (NASDAQ:DKNG) Stock

DraftKings Inc. (NASDAQ:DKNG) insider R Stanton Dodge sold 52,777 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $29.00, for a total transaction of $1,530,533.00. Following the completion of the sale, the insider owned 500,454 shares of the company’s stock, valued at approximately $14,513,166. This represents a 9.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

R Stanton Dodge also recently made the following trade(s):

• On Friday, October 17th, R Stanton Dodge sold 52,777 shares of DraftKings stock. The shares were sold at an average price of $34.57, for a total transaction of $1,824,500.89.
• On Tuesday, September 2nd, R Stanton Dodge sold 105,554 shares of DraftKings stock. The stock was sold at an average price of $47.37, for a total transaction of $5,000,092.98.

DraftKings Stock Up 8.6%

DraftKings stock traded up $2.42 during mid-day trading on Friday, reaching $30.40. 41,948,305 shares of the company were exchanged, compared to its average volume of 18,446,818. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a market cap of $15.09 billion, a P/E ratio of -53.33, a PEG ratio of 0.95 and a beta of 1.86. The business has a fifty day moving average of $37.88 and a 200 day moving average of $39.40. DraftKings Inc. has a 12-month low of $26.23 and a 12-month high of $53.61.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.40 billion. DraftKings had a negative net margin of 4.90% and a negative return on equity of 21.47%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.60) earnings per share. DraftKings has set its FY 2025 guidance at EPS. Research analysts anticipate that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. TD Private Client Wealth LLC grew its holdings in shares of DraftKings by 54.4% during the second quarter. TD Private Client Wealth LLC now owns 800 shares of the company’s stock valued at $34,000 after buying an additional 282 shares during the last quarter. Root Financial Partners LLC acquired a new stake in DraftKings during the 3rd quarter worth about $33,000. Bank of Jackson Hole Trust purchased a new stake in DraftKings during the 1st quarter valued at about $31,000. Summit Securities Group LLC grew its stake in DraftKings by 349.1% during the 1st quarter. Summit Securities Group LLC now owns 1,042 shares of the company’s stock valued at $35,000 after purchasing an additional 810 shares during the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of DraftKings in the second quarter valued at about $45,000. Hedge funds and other institutional investors own 37.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on DKNG. Bank of America lowered shares of DraftKings from a “buy” rating to a “neutral” rating and decreased their price target for the company from $48.00 to $35.00 in a research report on Tuesday. Mizuho reduced their price objective on shares of DraftKings from $58.00 to $54.00 and set an “outperform” rating for the company in a research note on Tuesday, October 7th. Northland Capmk cut shares of DraftKings from a “strong-buy” rating to a “strong sell” rating in a research report on Wednesday, October 1st. Benchmark cut their price target on shares of DraftKings from $43.00 to $37.00 and set a “buy” rating on the stock in a report on Friday. Finally, Citigroup reaffirmed a “neutral” rating on shares of DraftKings in a report on Wednesday, October 1st. Twenty-six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.83.

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.