DraftKings Inc. (NASDAQ:DKNG) Shares Sold by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC decreased its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 36.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 4,650 shares of the company’s stock after selling 2,700 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in DraftKings were worth $173,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DKNG. Stonebridge Financial Group LLC purchased a new position in DraftKings in the fourth quarter valued at $28,000. Synergy Asset Management LLC purchased a new position in DraftKings in the fourth quarter valued at $30,000. Delos Wealth Advisors LLC purchased a new position in DraftKings in the third quarter valued at $43,000. V Square Quantitative Management LLC acquired a new stake in DraftKings in the third quarter valued at $46,000. Finally, Creative Financial Designs Inc. ADV raised its stake in 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. Institutional investors and hedge funds own 37.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on DKNG shares. Susquehanna cut their target price on DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Benchmark lifted their target price on DraftKings from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday. Barclays lifted their target price on DraftKings from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. JMP Securities restated a “market outperform” rating and issued a $50.00 price target on shares of DraftKings in a research report on Friday. Finally, Macquarie boosted their price target on DraftKings from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.64.

Insiders Place Their Bets

In other DraftKings news, insider Jason Robins sold 200,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $45.00, for a total value of $9,000,000.00. Following the completion of the sale, the insider now owns 2,678,613 shares in the company, valued at $120,537,585. This represents a 6.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Liberman sold 532,095 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $38.30, for a total transaction of $20,379,238.50. Following the transaction, the insider now owns 68,654 shares in the company, valued at $2,629,448.20. This represents a 88.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,163,742 shares of company stock worth $47,082,888 in the last quarter. 51.19% of the stock is currently owned by corporate insiders.

DraftKings Trading Up 15.2 %

DraftKings stock opened at $53.49 on Tuesday. The company has a 50 day moving average price of $40.76 and a 200 day moving average price of $38.89. DraftKings Inc. has a 52 week low of $28.69 and a 52 week high of $53.61. 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 capitalization of $26.08 billion, a price-to-earnings ratio of -60.78, a P/E/G ratio of 3.18 and a beta of 1.93.

DraftKings (NASDAQ:DKNG) last released its earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.35). DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. Research analysts forecast that DraftKings Inc. will post -0.95 EPS for the current year.

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.