Stratos Wealth Partners LTD. Has $276,000 Holdings in DraftKings Inc. (NASDAQ:DKNG)

Stratos Wealth Partners LTD. lessened its stake in DraftKings Inc. (NASDAQ:DKNG) by 11.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,828 shares of the company’s stock after selling 983 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in DraftKings were worth $276,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Highlander Capital Management LLC boosted its holdings in shares of DraftKings by 180.0% in the 4th quarter. Highlander Capital Management LLC now owns 700 shares of the company’s stock valued at $25,000 after buying an additional 450 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of DraftKings by 233.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,014 shares of the company’s stock valued at $27,000 after buying an additional 710 shares during the last quarter. FSC Wealth Advisors LLC acquired a new stake in DraftKings during the 4th quarter valued at $37,000. Householder Group Estate & Retirement Specialist LLC lifted its holdings in DraftKings by 154.2% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 1,215 shares of the company’s stock valued at $42,000 after purchasing an additional 737 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in DraftKings during the 3rd quarter valued at $45,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

Insider Activity at DraftKings

In related news, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $37.82, for a total transaction of $7,564,000.00. Following the sale, the insider now directly owns 3,815,698 shares of the company’s stock, valued at approximately $144,309,698.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other DraftKings news, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $37.82, for a total transaction of $7,564,000.00. Following the sale, the insider now directly owns 3,815,698 shares of the company’s stock, valued at approximately $144,309,698.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Liberman sold 510,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $40.00, for a total transaction of $20,400,000.00. Following the sale, the insider now directly owns 2,291,406 shares in the company, valued at $91,656,240. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,596,101 shares of company stock valued at $65,685,509. 48.94% of the stock is owned by insiders.

DraftKings Trading Down 1.1 %

Shares of DraftKings stock opened at $43.72 on Tuesday. The firm has a market capitalization of $37.89 billion, a PE ratio of -24.98 and a beta of 1.86. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.49. The firm’s 50 day moving average is $43.81 and its 200 day moving average is $37.67. DraftKings Inc. has a 1 year low of $19.10 and a 1 year high of $49.57.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings results on Friday, February 16th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.16). The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.24 billion. DraftKings had a negative net margin of 21.88% and a negative return on equity of 87.24%. The company’s revenue for the quarter was up 43.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.53) earnings per share. Equities research analysts forecast that DraftKings Inc. will post -0.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DKNG. BNP Paribas downgraded DraftKings from a “neutral” rating to an “underperform” rating and set a $28.00 price target for the company. in a report on Friday, January 19th. Barclays raised DraftKings from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $41.00 to $50.00 in a report on Friday, February 23rd. Piper Sandler raised their price target on DraftKings from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $55.00 price target on shares of DraftKings in a report on Thursday, March 28th. Finally, UBS Group raised their price target on DraftKings from $44.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $46.46.

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.