Tempus Wealth Planning LLC Has $1.05 Million Holdings in DraftKings Inc. (NASDAQ:DKNG)

Tempus Wealth Planning LLC trimmed its stake in shares of DraftKings Inc. (NASDAQ:DKNG) by 17.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,138 shares of the company’s stock after selling 4,791 shares during the period. Tempus Wealth Planning LLC’s holdings in DraftKings were worth $1,051,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of DKNG. Highlander Capital Management LLC lifted its position in DraftKings by 180.0% during the 4th quarter. Highlander Capital Management LLC now owns 700 shares of the company’s stock valued at $25,000 after purchasing an additional 450 shares during the period. Transcendent Capital Group LLC acquired a new position in DraftKings in the fourth quarter valued at approximately $26,000. Montag A & Associates Inc. bought a new position in DraftKings in the fourth quarter valued at approximately $29,000. Massmutual Trust Co. FSB ADV grew its holdings in DraftKings by 117.5% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the company’s stock worth $42,000 after acquiring an additional 498 shares during the period. Finally, FSC Wealth Advisors LLC bought a new stake in shares of DraftKings during the 4th quarter valued at $37,000. 37.70% of the stock is owned by institutional investors.

Insider Buying and Selling at DraftKings

In other news, Director Jocelyn Moore sold 1,450 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $35.92, for a total value of $52,084.00. Following the completion of the transaction, the director now directly owns 6,814 shares in the company, valued at approximately $244,758.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Jocelyn Moore sold 1,450 shares of DraftKings stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $35.92, for a total value of $52,084.00. Following the transaction, the director now owns 6,814 shares in the company, valued at approximately $244,758.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Harry Sloan sold 250,000 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $38.15, for a total value of $9,537,500.00. Following the sale, the director now owns 250,000 shares of the company’s stock, valued at $9,537,500. The disclosure for this sale can be found here. Insiders sold 1,520,340 shares of company stock valued at $60,996,583 in the last three months. Corporate insiders own 48.94% of the company’s stock.

DraftKings Stock Performance

Shares of NASDAQ:DKNG traded up $0.50 during trading on Thursday, reaching $37.44. 4,486,663 shares of the stock were exchanged, compared to its average volume of 10,018,036. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.51. DraftKings Inc. has a 12 month low of $24.97 and a 12 month high of $49.57. The stock has a 50-day moving average price of $40.45 and a 200-day moving average price of $40.60.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.02). The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.12 billion. DraftKings had a negative return on equity of 62.74% and a negative net margin of 13.45%. DraftKings’s revenue was up 52.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.87) earnings per share. As a group, analysts expect that DraftKings Inc. will post -0.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on DKNG. Jefferies Financial Group increased their target price on DraftKings from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Oppenheimer decreased their price objective on shares of DraftKings from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Monday. BMO Capital Markets increased their target price on shares of DraftKings from $51.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. The Goldman Sachs Group began coverage on shares of DraftKings in a report on Tuesday, April 16th. They issued a “buy” rating and a $60.00 price target for the company. Finally, Morgan Stanley raised their price objective on DraftKings from $49.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.17.

DraftKings 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.