DraftKings Inc. (NASDAQ:DKNG – Get Free Report) insider Paul Liberman sold 668,890 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $38.83, for a total value of $25,972,998.70. Following the completion of the sale, the insider now directly owns 205,962 shares in the company, valued at $7,997,504.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
DraftKings Stock Up 2.9 %
NASDAQ DKNG opened at $38.17 on Friday. DraftKings Inc. has a 52 week low of $24.97 and a 52 week high of $49.57. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $33.18 billion, a P/E ratio of -32.35 and a beta of 1.81. The stock’s 50-day moving average price is $40.72 and its 200-day moving average price is $40.54.
DraftKings (NASDAQ:DKNG – Get Free Report) last released its earnings results on Thursday, May 2nd. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.02). The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.12 billion. DraftKings had a negative return on equity of 62.74% and a negative net margin of 13.45%. DraftKings’s revenue was up 52.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.87) EPS. On average, equities research analysts predict that DraftKings Inc. will post -0.22 earnings per share for the current year.
Analyst Ratings Changes
Read Our Latest Research Report on DraftKings
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of DraftKings by 1.9% in the first quarter. Vanguard Group Inc. now owns 40,011,855 shares of the company’s stock valued at $1,816,938,000 after acquiring an additional 747,937 shares in the last quarter. Jericho Capital Asset Management L.P. raised its stake in DraftKings by 39.4% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 7,153,967 shares of the company’s stock valued at $210,613,000 after purchasing an additional 2,022,000 shares during the period. Norges Bank purchased a new position in DraftKings in the 4th quarter worth approximately $192,140,000. Ameriprise Financial Inc. boosted its stake in DraftKings by 345.7% in the 3rd 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. Finally, Massachusetts Financial Services Co. MA grew its holdings in DraftKings by 21.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,424,931 shares of the company’s stock valued at $155,979,000 after buying an additional 781,058 shares in the last quarter. Institutional investors own 37.70% of the company’s stock.
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.
See Also
- Five stocks we like better than DraftKings
- Where to Find Earnings Call Transcripts
- Qualcomm Stock: AI-Powered Growth Despite Volatility
- Dividend King Proctor & Gamble Is A Buy On Post-Earnings Weakness
- Salesforce Stock: Meeting Recap, AI Focus, and Forecast
- TSX Venture Exchange (Formerly Canadian Venture Exchange)
- Is CAVA Overextended? A Closer Look at This High-Flying Stock
Receive News & Ratings for DraftKings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DraftKings and related companies with MarketBeat.com's FREE daily email newsletter.