DraftKings Inc. (NASDAQ:DKNG) Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 584,545 shares of the company’s stock after selling 5,080 shares during the quarter. Rhumbline Advisers owned approximately 0.07% of DraftKings worth $21,745,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stonebridge Financial Group LLC acquired a new position in shares of DraftKings during the 4th quarter valued at about $28,000. Synergy Asset Management LLC acquired a new position in DraftKings in the fourth quarter valued at about $30,000. Delos Wealth Advisors LLC acquired a new position in DraftKings in the third quarter valued at about $43,000. Creative Financial Designs Inc. ADV lifted its position in DraftKings by 36.8% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock valued at $47,000 after buying an additional 320 shares during the last quarter. Finally, YANKCOM Partnership acquired a new position in DraftKings in the fourth quarter valued at about $48,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

DraftKings Trading Down 2.6 %

NASDAQ:DKNG opened at $49.44 on Friday. The stock has a fifty day moving average price of $41.30 and a two-hundred day moving average price of $39.18. The stock has a market capitalization of $24.22 billion, a price-to-earnings ratio of -46.64, a PEG ratio of 2.06 and a beta of 1.93. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.00. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $53.61.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.35). DraftKings had a negative return on equity of 47.48% and a negative net margin of 10.64%. As a group, sell-side analysts anticipate that DraftKings Inc. will post 0.46 earnings per share for the current fiscal year.

Insider Activity

In related news, insider R Stanton Dodge sold 228,496 shares of DraftKings stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $42.74, for a total transaction of $9,765,919.04. Following the completion of the sale, the insider now owns 541,884 shares in the company, valued at approximately $23,160,122.16. This trade represents a 29.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Liberman sold 532,095 shares of DraftKings stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $38.30, for a total value of $20,379,238.50. Following the sale, the insider now owns 68,654 shares of the company’s stock, valued at approximately $2,629,448.20. This represents a 88.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,160,591 shares of company stock worth $46,945,158 over the last 90 days. 51.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

DKNG has been the topic of a number of recent analyst reports. Canaccord Genuity Group upped their target price on shares of DraftKings from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Stifel Nicolaus boosted their price target on shares of DraftKings from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on shares of DraftKings from $53.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday. Susquehanna cut their target price on shares of DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company upped their target price on shares of DraftKings from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.69.

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.