Key Client Fiduciary Advisors LLC Has $248,000 Stock Holdings in DraftKings Inc. (NASDAQ:DKNG)

Key Client Fiduciary Advisors LLC cut its holdings in DraftKings Inc. (NASDAQ:DKNG) by 26.9% in the first quarter, Holdings Channel.com reports. The fund owned 5,471 shares of the company’s stock after selling 2,010 shares during the quarter. Key Client Fiduciary Advisors LLC’s holdings in DraftKings were worth $248,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC acquired a new stake in shares of DraftKings in the first quarter worth $83,000. Sunbelt Securities Inc. lifted its stake in shares of DraftKings by 15.4% in the first quarter. Sunbelt Securities Inc. now owns 2,860 shares of the company’s stock worth $130,000 after buying an additional 382 shares during the last quarter. Financial Enhancement Group LLC acquired a new stake in shares of DraftKings in the first quarter worth $2,144,000. Kingswood Wealth Advisors LLC acquired a new stake in shares of DraftKings in the first quarter worth $1,032,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of DraftKings in the first quarter worth $246,000. 37.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DKNG has been the subject of a number of analyst reports. BMO Capital Markets boosted their price objective on shares of DraftKings from $51.00 to $54.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $55.00 target price on shares of DraftKings in a research report on Thursday, March 28th. Wells Fargo & Company dropped their target price on shares of DraftKings from $54.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday. Berenberg Bank raised shares of DraftKings to a “hold” rating in a research report on Friday, May 31st. Finally, BTIG Research boosted their target price on shares of DraftKings from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.24.

Insider Buying and Selling

In related news, insider Paul Liberman sold 668,890 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $38.83, for a total transaction of $25,972,998.70. Following the completion of the sale, the insider now directly owns 205,962 shares of the company’s stock, valued at approximately $7,997,504.46. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Paul Liberman sold 668,890 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $38.83, for a total transaction of $25,972,998.70. Following the completion of the transaction, the insider now directly owns 205,962 shares of the company’s stock, valued at approximately $7,997,504.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harry Sloan sold 250,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $38.15, for a total transaction of $9,537,500.00. Following the transaction, the director now directly owns 250,000 shares of the company’s stock, valued at $9,537,500. The disclosure for this sale can be found here. In the last three months, insiders sold 1,520,340 shares of company stock valued at $60,996,583. 51.19% of the stock is owned by corporate insiders.

DraftKings Stock Performance

Shares of DKNG stock opened at $37.11 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market cap of $32.26 billion, a PE ratio of -31.45 and a beta of 1.81. The stock has a 50-day moving average of $40.81 and a 200-day moving average of $40.57. DraftKings Inc. has a one year low of $24.97 and a one year high of $49.57.

DraftKings (NASDAQ:DKNG) last posted its earnings results on Thursday, May 2nd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the company posted ($0.87) earnings per share. DraftKings’s revenue for the quarter was up 52.7% compared to the same quarter last year. As a group, sell-side analysts expect that DraftKings Inc. will post -0.22 earnings per share for the current year.

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.