Ballentine Partners LLC lowered its position in DraftKings Inc. (NASDAQ:DKNG – Free Report) by 9.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,891 shares of the company’s stock after selling 698 shares during the period. Ballentine Partners LLC’s holdings in DraftKings were worth $256,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC bought a new position in shares of DraftKings in the 3rd quarter worth $43,000. V Square Quantitative Management LLC bought a new stake in shares of DraftKings during the third quarter worth about $46,000. Creative Financial Designs Inc. ADV raised its holdings in shares of DraftKings by 36.8% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock worth $47,000 after acquiring an additional 320 shares during the last quarter. Eastern Bank bought a new position in DraftKings in the 3rd quarter valued at about $59,000. Finally, Quarry LP acquired a new position in DraftKings during the 2nd quarter valued at about $87,000. Institutional investors and hedge funds own 37.70% of the company’s stock.
Insider Buying and Selling at DraftKings
In other DraftKings news, insider Jason Robins sold 3,151 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $43.71, for a total value of $137,730.21. Following the sale, the insider now owns 2,631,033 shares of the company’s stock, valued at $115,002,452.43. This trade represents a 0.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul Liberman sold 532,095 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $38.30, for a total value of $20,379,238.50. Following the transaction, the insider now directly owns 68,654 shares of the company’s stock, valued at $2,629,448.20. The trade was a 88.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 963,742 shares of company stock valued at $38,082,888 in the last three months. Company insiders own 51.19% of the company’s stock.
Analyst Ratings Changes
Read Our Latest Research Report on DKNG
DraftKings Stock Performance
NASDAQ:DKNG opened at $41.34 on Friday. DraftKings Inc. has a 52-week low of $28.69 and a 52-week high of $49.57. The business’s fifty day moving average is $40.59 and its 200 day moving average is $38.09. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $36.41 billion, a price-to-earnings ratio of -46.98, a PEG ratio of 3.07 and a beta of 1.90.
DraftKings (NASDAQ:DKNG – Get Free Report) last announced its quarterly 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). DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. Research analysts predict that DraftKings Inc. will post -0.9 EPS for the current year.
DraftKings Company 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.
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