First National Trust Co Sells 2,405 Shares of DraftKings Inc. (NASDAQ:DKNG)

First National Trust Co reduced its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 20.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,160 shares of the company’s stock after selling 2,405 shares during the quarter. First National Trust Co’s holdings in DraftKings were worth $341,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in DKNG. Stonebridge Financial Group LLC bought a new position in shares of DraftKings during the 4th quarter worth approximately $28,000. Synergy Asset Management LLC bought a new position in shares of DraftKings during the 4th quarter worth approximately $30,000. Synergy Investment Management LLC bought a new position in shares of DraftKings during the 4th quarter worth approximately $37,000. Delos Wealth Advisors LLC bought a new position in shares of DraftKings during the 3rd quarter worth approximately $43,000. Finally, YANKCOM Partnership bought a new position in shares of DraftKings in the fourth quarter valued at $48,000. 37.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on DKNG. Argus set a $60.00 target price on shares of DraftKings in a research note on Tuesday, February 18th. Cowen reissued a “buy” rating on shares of DraftKings in a research note on Tuesday, February 4th. JMP Securities reissued a “market outperform” rating and issued a $50.00 target price on shares of DraftKings in a research note on Friday, February 14th. Stifel Nicolaus raised their target price on shares of DraftKings from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, Morgan Stanley raised their target price on shares of DraftKings from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DraftKings currently has an average rating of “Moderate Buy” and a consensus target price of $54.44.

DraftKings Stock Up 2.4 %

Shares of NASDAQ DKNG opened at $37.87 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.00 and a current ratio of 0.93. DraftKings Inc. has a 52 week low of $28.69 and a 52 week high of $53.61. The stock has a market capitalization of $18.55 billion, a P/E ratio of -35.73, a PEG ratio of 1.43 and a beta of 2.07. The stock’s fifty day moving average is $42.14 and its 200 day moving average is $40.12.

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 net margin of 10.64% and a negative return on equity of 48.13%. Sell-side analysts forecast that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

Insider Buying and Selling at DraftKings

In other DraftKings news, Director Jocelyn Moore sold 3,420 shares of DraftKings stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $42.00, for a total value of $143,640.00. Following the transaction, the director now owns 1,612 shares in the company, valued at $67,704. The trade was a 67.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Matthew Kalish sold 587,585 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $47.05, for a total value of $27,645,874.25. Following the sale, the insider now owns 4,118,927 shares in the company, valued at approximately $193,795,515.35. This trade represents a 12.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,558,412 shares of company stock worth $108,506,588 over the last 90 days. Insiders own 51.19% of the company’s stock.

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.