RDA Financial Network Purchases Shares of 5,104 DraftKings Inc. (NASDAQ:DKNG)

RDA Financial Network purchased a new stake in DraftKings Inc. (NASDAQ:DKNG) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,104 shares of the company’s stock, valued at approximately $232,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Highlander Capital Management LLC increased its position in shares of DraftKings by 180.0% during the fourth quarter. Highlander Capital Management LLC now owns 700 shares of the company’s stock worth $25,000 after purchasing an additional 450 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of DraftKings during the fourth quarter worth about $26,000. Montag A & Associates Inc. acquired a new stake in shares of DraftKings during the fourth quarter worth about $29,000. FSC Wealth Advisors LLC acquired a new stake in shares of DraftKings during the fourth quarter worth about $37,000. Finally, Householder Group Estate & Retirement Specialist LLC increased its position in shares of DraftKings by 154.2% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 1,215 shares of the company’s stock worth $42,000 after purchasing an additional 737 shares in the last quarter. 37.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on DKNG shares. The Goldman Sachs Group started coverage on DraftKings in a research report on Tuesday, April 16th. They issued a “buy” rating and a $60.00 price target on the stock. Jefferies Financial Group boosted their price target on DraftKings from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Deutsche Bank Aktiengesellschaft boosted their price target on DraftKings from $34.00 to $35.00 and gave the company a “hold” rating in a research report on Monday, May 6th. Berenberg Bank upgraded DraftKings to a “hold” rating in a research report on Friday, May 31st. Finally, JMP Securities restated a “market outperform” rating and issued a $52.00 price target on shares of DraftKings in a research report on Monday, March 25th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $49.00.

DraftKings Stock Down 0.7 %

Shares of DraftKings stock opened at $41.69 on Monday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.34 and a current ratio of 1.34. DraftKings Inc. has a 1 year low of $24.67 and a 1 year high of $49.57. The business has a 50 day moving average price of $41.11 and a 200 day moving average price of $40.54.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.02). DraftKings had a negative return on equity of 62.74% and a negative net margin of 13.45%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the firm earned ($0.87) earnings per share. The company’s revenue for the quarter was up 52.7% on a year-over-year basis. On average, equities research analysts anticipate that DraftKings Inc. will post -0.21 earnings per share for the current year.

Insider Buying and Selling

In other DraftKings news, Director Jocelyn Moore sold 1,450 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $35.92, for a total value of $52,084.00. Following the completion of the transaction, the director now directly owns 6,814 shares in the company, valued at approximately $244,758.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other DraftKings news, Director Harry Sloan sold 250,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $38.15, for a total value of $9,537,500.00. Following the completion of the transaction, the director now directly owns 250,000 shares in the company, valued at approximately $9,537,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jocelyn Moore sold 1,450 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $35.92, for a total value of $52,084.00. Following the completion of the transaction, the director now owns 6,814 shares of the company’s stock, valued at $244,758.88. The disclosure for this sale can be found here. Insiders sold 851,450 shares of company stock worth $35,023,584 in the last ninety days. Insiders own 51.19% of the company’s stock.

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.