DraftKings Inc. (NASDAQ:DKNG) Holdings Trimmed by First Dallas Securities Inc.

First Dallas Securities Inc. trimmed its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 1.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 76,816 shares of the company’s stock after selling 1,500 shares during the period. DraftKings accounts for 1.2% of First Dallas Securities Inc.’s investment portfolio, making the stock its 23rd biggest holding. First Dallas Securities Inc.’s holdings in DraftKings were worth $2,858,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Synergy Asset Management LLC purchased a new position in shares of DraftKings during the 4th quarter valued at $30,000. Delos Wealth Advisors LLC bought a new stake in DraftKings in the third quarter valued at about $43,000. V Square Quantitative Management LLC bought a new stake in DraftKings during the third quarter worth about $46,000. Creative Financial Designs Inc. ADV grew its stake 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 buying an additional 320 shares during the last quarter. Finally, Toth Financial Advisory Corp bought a new stake in DraftKings during the fourth quarter worth about $58,000. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

DraftKings Trading Down 1.3 %

Shares of DraftKings stock opened at $41.39 on Tuesday. The firm has a market capitalization of $36.45 billion, a PE ratio of -47.03, a price-to-earnings-growth ratio of 3.14 and a beta of 1.90. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17. The firm’s 50 day moving average is $40.46 and its 200 day moving average is $38.23. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $49.57.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on DKNG shares. Susquehanna reduced their target price on shares of DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Mizuho increased their target price on shares of DraftKings from $54.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. TD Cowen increased their price objective on shares of DraftKings from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Barclays raised their target price on shares of DraftKings from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price target on shares of DraftKings in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, DraftKings currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.08.

Insider Transactions at DraftKings

In other DraftKings news, insider Paul Liberman sold 532,095 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $38.30, for a total transaction of $20,379,238.50. Following the sale, the insider now directly owns 68,654 shares of the company’s stock, valued at $2,629,448.20. This represents a 88.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider R Stanton Dodge sold 228,496 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 541,884 shares in the company, valued at approximately $23,160,122.16. The trade was a 29.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 963,742 shares of company stock valued at $38,082,888 in the last 90 days. 51.19% of the stock is currently owned by corporate insiders.

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.