Tempus Wealth Planning LLC Sells 1,667 Shares of DraftKings Inc. (NASDAQ:DKNG)

Tempus Wealth Planning LLC trimmed its stake in DraftKings Inc. (NASDAQ:DKNG) by 7.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,170 shares of the company’s stock after selling 1,667 shares during the period. Tempus Wealth Planning LLC’s holdings in DraftKings were worth $791,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC raised its position in shares of DraftKings by 17.2% during the 1st quarter. International Assets Investment Management LLC now owns 7,522 shares of the company’s stock valued at $338,000 after buying an additional 1,104 shares in the last quarter. Gateway Investment Advisers LLC purchased a new stake in DraftKings during the first quarter valued at about $227,000. Dynamic Advisor Solutions LLC lifted its stake in DraftKings by 3.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 32,706 shares of the company’s stock worth $1,485,000 after purchasing an additional 1,070 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in DraftKings during the first quarter worth about $246,000. Finally, Kingswood Wealth Advisors LLC purchased a new position in shares of DraftKings in the 1st quarter worth about $1,032,000. 37.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. JMP Securities restated a “market outperform” rating and issued a $51.00 target price on shares of DraftKings in a research report on Monday, October 14th. UBS Group boosted their price objective on shares of DraftKings from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. The Goldman Sachs Group reduced their target price on shares of DraftKings from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Guggenheim lowered their price target on shares of DraftKings from $53.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Finally, BNP Paribas raised DraftKings from an “underperform” rating to a “neutral” rating and set a $35.00 price objective on the stock in a research note on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $50.22.

Insider Buying and Selling at DraftKings

In other news, insider Jason Robins sold 200,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $35.25, for a total value of $7,050,000.00. Following the sale, the insider now directly owns 2,678,082 shares of the company’s stock, valued at approximately $94,402,390.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $35.25, for a total value of $7,050,000.00. Following the transaction, the insider now owns 2,678,082 shares in the company, valued at $94,402,390.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul Liberman sold 643,654 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $41.24, for a total transaction of $26,544,290.96. Following the sale, the insider now owns 137,308 shares of the company’s stock, valued at approximately $5,662,581.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,132,095 shares of company stock worth $42,890,328. 51.19% of the stock is owned by insiders.

DraftKings Stock Up 1.4 %

NASDAQ:DKNG opened at $37.67 on Wednesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.11 and a quick ratio of 1.11. The firm’s 50-day moving average price is $37.05 and its 200-day moving average price is $38.48. The company has a market capitalization of $32.74 billion, a PE ratio of -31.92 and a beta of 1.81. DraftKings Inc. has a 1-year low of $25.73 and a 1-year high of $49.57.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.13. DraftKings had a negative net margin of 9.45% and a negative return on equity of 43.11%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. DraftKings’s quarterly revenue was up 26.2% on a year-over-year basis. On average, equities analysts predict that DraftKings Inc. will post -0.31 EPS for the current fiscal year.

DraftKings 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.