Stephens Inc. AR Sells 25,282 Shares of DraftKings Inc. $DKNG

Stephens Inc. AR reduced its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 64.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,986 shares of the company’s stock after selling 25,282 shares during the quarter. Stephens Inc. AR’s holdings in DraftKings were worth $482,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in DKNG. Dagco Inc. bought a new stake in shares of DraftKings during the 4th quarter valued at about $26,000. Ameriflex Group Inc. increased its holdings in DraftKings by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 810 shares of the company’s stock worth $30,000 after acquiring an additional 405 shares in the last quarter. Root Financial Partners LLC purchased a new stake in DraftKings in the 3rd quarter worth approximately $33,000. Asset Dedication LLC purchased a new stake in DraftKings in the 3rd quarter worth approximately $37,000. Finally, Montag A & Associates Inc. increased its holdings in DraftKings by 82.5% in the 4th quarter. Montag A & Associates Inc. now owns 1,106 shares of the company’s stock worth $38,000 after acquiring an additional 500 shares in the last quarter. 37.70% of the stock is currently owned by institutional investors.

DraftKings Trading Up 1.6%

Shares of DKNG opened at $25.40 on Friday. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.02 and a quick ratio of 1.02. DraftKings Inc. has a 1 year low of $20.46 and a 1 year high of $48.78. The company has a 50 day simple moving average of $23.69 and a two-hundred day simple moving average of $27.96. The firm has a market cap of $12.60 billion, a P/E ratio of 423.33 and a beta of 1.67.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). DraftKings had a net margin of 0.93% and a return on equity of 13.51%. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the business earned ($0.07) earnings per share. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, equities analysts expect that DraftKings Inc. will post 0.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Rothschild & Co Redburn set a $35.00 target price on shares of DraftKings in a report on Friday, January 30th. BNP Paribas Exane assumed coverage on shares of DraftKings in a report on Thursday, May 14th. They issued an “underperform” rating and a $20.00 target price for the company. Canaccord Genuity Group reduced their target price on shares of DraftKings from $50.00 to $44.00 and set a “buy” rating for the company in a report on Friday, February 13th. Argus lowered shares of DraftKings from a “buy” rating to a “hold” rating in a report on Tuesday, March 17th. Finally, Wedbush assumed coverage on shares of DraftKings in a report on Friday, April 24th. They issued an “outperform” rating for the company. Twenty-seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.32.

Insider Activity at DraftKings

In other DraftKings news, Director Jocelyn Moore sold 2,150 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $25.60, for a total transaction of $55,040.00. Following the completion of the sale, the director directly owned 1,406 shares of the company’s stock, valued at $35,993.60. This trade represents a 60.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Woodrow Levin sold 34,234 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $25.71, for a total transaction of $880,156.14. Following the sale, the director directly owned 29,820 shares of the company’s stock, valued at approximately $766,672.20. This trade represents a 53.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 523,684 shares of company stock valued at $13,193,934. Corporate insiders own 47.18% of the company’s stock.

DraftKings Profile

DraftKings Inc is a leading digital sports entertainment and gaming company specializing in daily fantasy sports, sports betting and iGaming products. The company provides an integrated platform where users can participate in daily fantasy contests, place wagers on professional sports events, and enjoy a range of online casino-style games. DraftKings’ proprietary technology supports real-time odds, live scoring and advanced analytics to enhance the user experience across mobile and desktop applications.

Founded in 2012 by co-founders Jason Robins, Matthew Kalish and Paul Liberman, DraftKings began as a daily fantasy sports provider and rapidly expanded into regulated sports betting following legislative changes in the United States.