Stableford Capital II LLC Reduces Stake in DraftKings Inc. (NASDAQ:DKNG)

Stableford Capital II LLC lessened its holdings in DraftKings Inc. (NASDAQ:DKNG) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,952 shares of the company’s stock after selling 535 shares during the quarter. Stableford Capital II LLC’s holdings in DraftKings were worth $2,044,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Pine Valley Investments Ltd Liability Co raised its holdings in shares of DraftKings by 3.7% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 6,924 shares of the company’s stock worth $271,000 after purchasing an additional 249 shares during the last quarter. Claro Advisors LLC raised its stake in shares of DraftKings by 1.5% during the 4th quarter. Claro Advisors LLC now owns 18,093 shares of the company’s stock valued at $673,000 after buying an additional 264 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of DraftKings by 0.6% in the 3rd quarter. Global Retirement Partners LLC now owns 47,067 shares of the company’s stock valued at $1,845,000 after buying an additional 273 shares during the period. Westside Investment Management Inc. boosted its stake in shares of DraftKings by 0.6% in the fourth quarter. Westside Investment Management Inc. now owns 45,118 shares of the company’s stock worth $1,678,000 after buying an additional 288 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV grew its holdings in DraftKings by 36.8% during the third quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock worth $47,000 after acquiring an additional 320 shares during the period. 37.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jason Robins sold 3,151 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $43.71, for a total value of $137,730.21. Following the sale, the insider now directly owns 2,631,033 shares of the company’s stock, valued at approximately $115,002,452.43. The trade was a 0.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider R Stanton Dodge sold 228,496 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 541,884 shares of the company’s stock, valued at $23,160,122.16. The trade was a 29.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 963,742 shares of company stock valued at $38,082,888. 51.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on DKNG shares. Morgan Stanley upped their price objective on DraftKings from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. TD Cowen increased their price target on shares of DraftKings from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Benchmark reaffirmed a “buy” rating and issued a $44.00 price objective on shares of DraftKings in a report on Tuesday, January 7th. Macquarie increased their target price on shares of DraftKings from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, JMP Securities dropped their target price on DraftKings from $52.00 to $50.00 and set a “market outperform” rating on the stock in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DraftKings presently has an average rating of “Moderate Buy” and an average price target of $51.08.

DraftKings Stock Down 1.8 %

Shares of NASDAQ:DKNG opened at $41.95 on Friday. DraftKings Inc. has a 52-week low of $28.69 and a 52-week high of $49.57. The stock has a market cap of $36.94 billion, a P/E ratio of -47.67, a PEG ratio of 3.14 and a beta of 1.90. The business has a fifty day moving average of $40.46 and a two-hundred day moving average of $38.24. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.18). DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. On average, research analysts expect that DraftKings Inc. will post -0.93 earnings per share for the current year.

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.