Nwam LLC Sells 5,076 Shares of DraftKings Inc. (NASDAQ:DKNG)

Nwam LLC trimmed its stake in DraftKings Inc. (NASDAQ:DKNG) by 13.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,773 shares of the company’s stock after selling 5,076 shares during the period. Nwam LLC’s holdings in DraftKings were worth $1,219,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Whipplewood Advisors LLC acquired a new position in DraftKings during the fourth quarter valued at approximately $131,000. Bryn Mawr Capital Management LLC bought a new stake in shares of DraftKings during the 4th quarter worth $874,000. National Pension Service grew its stake in DraftKings by 2.7% in the 4th quarter. National Pension Service now owns 734,200 shares of the company’s stock valued at $27,312,000 after buying an additional 19,400 shares during the last quarter. Lingotto Investment Management LLP bought a new position in DraftKings in the 4th quarter worth $2,812,000. Finally, Amalgamated Bank lifted its position in DraftKings by 1.1% during the 4th quarter. Amalgamated Bank now owns 29,911 shares of the company’s stock worth $1,113,000 after acquiring an additional 327 shares during the last quarter. 37.70% of the stock is owned by institutional investors.

DraftKings Stock Down 1.4 %

Shares of NASDAQ DKNG opened at $42.74 on Friday. 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 1.24, a quick ratio of 1.00 and a current ratio of 0.93. The business has a fifty day moving average of $41.71 and a two-hundred day moving average of $39.63. The stock has a market cap of $20.94 billion, a PE ratio of -40.32, a PEG ratio of 1.43 and a beta of 1.93.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.35). DraftKings had a negative net margin of 10.64% and a negative return on equity of 48.13%. As a group, equities research analysts expect that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DKNG has been the topic of a number of recent analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $50.00 price objective on shares of DraftKings in a research note on Friday, February 14th. Susquehanna dropped their price target on DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. BTIG Research set a $59.00 price target on DraftKings in a report on Monday, February 3rd. Stifel Nicolaus raised their price objective on shares of DraftKings from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Finally, Barclays upped their target price on shares of DraftKings from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, DraftKings has an average rating of “Moderate Buy” and a consensus target price of $54.44.

Insider Transactions at DraftKings

In other DraftKings news, insider Paul Liberman sold 532,095 shares of DraftKings stock in a transaction on 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 completion of the transaction, the insider now owns 68,654 shares in the company, valued at approximately $2,629,448.20. The trade was a 88.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider R Stanton Dodge sold 228,496 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $42.74, for a total value of $9,765,919.04. Following the completion of the transaction, the insider now directly owns 541,884 shares in the company, valued at approximately $23,160,122.16. This represents a 29.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,573,488 shares of company stock valued at $109,600,767 in the last three months. 48.94% of the stock is owned by corporate insiders.

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.