First Horizon Advisors Inc. Sells 1,195 Shares of DraftKings Inc. (NASDAQ:DKNG)

First Horizon Advisors Inc. lowered its position in DraftKings Inc. (NASDAQ:DKNG) by 23.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,920 shares of the company’s stock after selling 1,195 shares during the period. First Horizon Advisors Inc.’s holdings in DraftKings were worth $138,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Highlander Capital Management LLC boosted its holdings in DraftKings by 180.0% in the 4th quarter. Highlander Capital Management LLC now owns 700 shares of the company’s stock worth $25,000 after buying an additional 450 shares during the period. FSC Wealth Advisors LLC bought a new position in DraftKings in the 4th quarter worth $37,000. Householder Group Estate & Retirement Specialist LLC boosted its holdings in DraftKings by 154.2% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 1,215 shares of the company’s stock worth $42,000 after buying an additional 737 shares during the period. Acadian Asset Management LLC bought a new position in DraftKings in the 3rd quarter worth $45,000. Finally, CI Investments Inc. boosted its holdings in DraftKings by 55.9% in the 3rd quarter. CI Investments Inc. now owns 1,671 shares of the company’s stock worth $49,000 after buying an additional 599 shares during the period. Institutional investors own 37.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on DKNG. BNP Paribas cut shares of DraftKings from a “neutral” rating to an “underperform” rating and set a $28.00 price target on the stock. in a research note on Friday, January 19th. Benchmark boosted their price target on shares of DraftKings from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday. JMP Securities reiterated a “market outperform” rating and issued a $52.00 price target on shares of DraftKings in a research note on Monday, March 25th. Moffett Nathanson boosted their price target on shares of DraftKings from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, Stifel Nicolaus boosted their price target on shares of DraftKings from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $49.07.

Insiders Place Their Bets

In other DraftKings news, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $40.89, for a total value of $8,178,000.00. Following the transaction, the insider now directly owns 3,195,812 shares in the company, valued at approximately $130,676,752.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other DraftKings news, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $40.89, for a total value of $8,178,000.00. Following the transaction, the insider now directly owns 3,195,812 shares in the company, valued at approximately $130,676,752.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider R Stanton Dodge sold 686,101 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $43.06, for a total transaction of $29,543,509.06. Following the completion of the transaction, the insider now owns 200,239 shares in the company, valued at $8,622,291.34. The disclosure for this sale can be found here. Insiders have sold 1,086,101 shares of company stock worth $45,903,509 in the last three months. Corporate insiders own 48.94% of the company’s stock.

DraftKings Stock Performance

DraftKings stock opened at $44.07 on Tuesday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.34 and a quick ratio of 1.34. DraftKings Inc. has a 1-year low of $22.65 and a 1-year high of $49.57. The firm has a market capitalization of $38.19 billion, a P/E ratio of -37.35 and a beta of 1.87. The company’s 50-day moving average is $43.66 and its 200 day moving average is $39.03.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.02). The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.12 billion. DraftKings had a negative return on equity of 61.75% and a negative net margin of 13.45%. The business’s revenue for the quarter was up 52.7% compared to the same quarter last year. During the same period last year, the company earned ($0.87) earnings per share. Research analysts forecast that DraftKings Inc. will post -0.24 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.