DraftKings Inc. (NASDAQ:DKNG) Shares Sold by Sepio Capital LP

Sepio Capital LP reduced its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 36.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,136 shares of the company’s stock after selling 5,850 shares during the period. Sepio Capital LP’s holdings in DraftKings were worth $377,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Stonebridge Financial Group LLC acquired a new stake in DraftKings during the fourth quarter worth approximately $28,000. Synergy Asset Management LLC purchased a new position in shares of DraftKings during the 4th quarter worth $30,000. Synergy Investment Management LLC acquired a new stake in shares of DraftKings during the fourth quarter worth $37,000. Delos Wealth Advisors LLC purchased a new stake in shares of DraftKings in the third quarter valued at $43,000. Finally, Westpac Banking Corp acquired a new position in DraftKings in the fourth quarter valued at $44,000. 37.70% of the stock is owned by institutional investors and hedge funds.

DraftKings Stock Performance

Shares of DKNG opened at $31.67 on Monday. The firm has a market cap of $15.83 billion, a price-to-earnings ratio of -29.88, a PEG ratio of 1.43 and a beta of 2.16. The company has a quick ratio of 1.00, a current ratio of 0.93 and a debt-to-equity ratio of 1.24. The business’s 50 day moving average is $41.21 and its two-hundred day moving average is $40.17. DraftKings Inc. has a 52-week low of $28.69 and a 52-week high of $53.61.

DraftKings (NASDAQ:DKNG) last posted 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%. Analysts forecast that DraftKings Inc. will post 0.64 EPS for the current fiscal year.

Insider Transactions at DraftKings

In other news, insider Matthew Kalish sold 587,585 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 4,118,927 shares in the company, valued at approximately $193,795,515.35. The trade was a 12.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Liberman sold 200,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $39.00, for a total value of $7,800,000.00. Following the transaction, the insider now owns 1,342,722 shares in the company, valued at $52,366,158. This trade represents a 12.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,775,525 shares of company stock valued at $117,241,446. Insiders own 51.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on DKNG shares. Canaccord Genuity Group lifted their price target on DraftKings from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, February 14th. Barclays boosted their target price on shares of DraftKings from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. JMP Securities reaffirmed a “market outperform” rating and set a $50.00 price target on shares of DraftKings in a research note on Friday, February 14th. Wells Fargo & Company boosted their price objective on shares of DraftKings from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Finally, Stifel Nicolaus increased their target price on DraftKings from $48.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.42.

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.