DraftKings Inc. (NASDAQ:DKNG) Shares Sold by RMR Wealth Builders

RMR Wealth Builders trimmed its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 21.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,076 shares of the company’s stock after selling 1,698 shares during the period. RMR Wealth Builders’ holdings in DraftKings were worth $226,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale boosted its holdings in DraftKings by 159.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 74,849 shares of the company’s stock valued at $2,772,000 after acquiring an additional 46,024 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of DraftKings by 55.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 14,832 shares of the company’s stock valued at $566,000 after purchasing an additional 5,277 shares during the period. Moors & Cabot Inc. grew its holdings in shares of DraftKings by 4.1% in the second quarter. Moors & Cabot Inc. now owns 27,530 shares of the company’s stock valued at $1,051,000 after purchasing an additional 1,075 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in DraftKings during the 2nd quarter worth approximately $960,000. Finally, Mercer Global Advisors Inc. ADV increased its stake in DraftKings by 44.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 35,073 shares of the company’s stock worth $1,339,000 after buying an additional 10,781 shares during the period. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

DraftKings Price Performance

Shares of NASDAQ DKNG opened at $39.68 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $34.94 billion, a PE ratio of -45.09, a P/E/G ratio of 2.99 and a beta of 1.90. The stock has a fifty day moving average price of $40.65 and a 200 day moving average price of $37.94. DraftKings Inc. has a 1-year low of $28.69 and a 1-year high of $49.57.

DraftKings (NASDAQ:DKNG) last issued its earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.18). The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.12 billion. DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. Sell-side analysts forecast that DraftKings Inc. will post -0.83 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on DKNG shares. Susquehanna dropped their price target on shares of DraftKings from $56.00 to $54.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Macquarie boosted their target price on DraftKings from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. lifted their price objective on DraftKings from $47.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Mizuho boosted their price target on shares of DraftKings from $54.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, Barclays raised their price target on DraftKings from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.08.

Insider Transactions at DraftKings

In related news, insider Paul Liberman sold 88,441 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $36.41, for a total value of $3,220,136.81. Following the completion of the sale, the insider now owns 1,923,483 shares in the company, valued at $70,034,016.03. This trade represents a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider R Stanton Dodge sold 228,496 shares of the company’s 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 transaction, the insider now owns 541,884 shares in the company, valued at $23,160,122.16. The trade was a 29.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,052,183 shares of company stock valued at $41,303,025. Corporate insiders own 48.94% of the company’s stock.

About DraftKings

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.