DraftKings Inc. (NASDAQ:DKNG) Holdings Trimmed by SteelPeak Wealth LLC

SteelPeak Wealth LLC cut its holdings in DraftKings Inc. (NASDAQ:DKNG) by 17.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,429 shares of the company’s stock after selling 2,400 shares during the quarter. SteelPeak Wealth LLC’s holdings in DraftKings were worth $425,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Delos Wealth Advisors LLC bought a new stake in shares of DraftKings in the 3rd quarter worth approximately $43,000. V Square Quantitative Management LLC bought a new position in shares of DraftKings in the third quarter valued at $46,000. Creative Financial Designs Inc. ADV increased its holdings in shares of DraftKings by 36.8% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock valued at $47,000 after buying an additional 320 shares in the last quarter. Toth Financial Advisory Corp acquired a new stake in shares of DraftKings during the 4th quarter valued at $58,000. Finally, Eastern Bank bought a new stake in shares of DraftKings during the 3rd quarter worth $59,000. 37.70% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jason Robins sold 3,151 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 2,631,033 shares in the company, valued at approximately $115,002,452.43. The trade was a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Liberman sold 200,000 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $39.00, for a total transaction of $7,800,000.00. Following the completion of the transaction, the insider now owns 1,342,722 shares in the company, valued at $52,366,158. The trade was a 12.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 963,742 shares of company stock valued at $38,082,888 over the last 90 days. 51.19% of the stock is currently owned by company insiders.

DraftKings Stock Performance

Shares of DKNG opened at $42.73 on Friday. The firm has a market cap of $37.63 billion, a price-to-earnings ratio of -48.56, a price-to-earnings-growth ratio of 3.07 and a beta of 1.90. The company’s fifty day moving average is $40.50 and its 200-day moving average is $38.19. 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 Inc. has a 12 month low of $28.69 and a 12 month high of $49.57.

DraftKings (NASDAQ:DKNG) last posted 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 company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. Equities analysts expect that DraftKings Inc. will post -0.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DKNG has been the subject of several analyst reports. Mizuho upped their target price on DraftKings from $54.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, October 18th. JMP Securities reduced their price objective on shares of DraftKings from $52.00 to $50.00 and set a “market outperform” rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. lifted their target price on shares of DraftKings from $47.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Benchmark reaffirmed a “buy” rating and issued a $44.00 price objective on shares of DraftKings in a research note on Tuesday, January 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $60.00 target price 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 issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.08.

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.