First National Trust Co Takes $232,000 Position in DraftKings Inc. (NASDAQ:DKNG)

First National Trust Co bought a new position in shares of DraftKings Inc. (NASDAQ:DKNG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,576 shares of the company’s stock, valued at approximately $232,000.

Other institutional investors have also made changes to their positions in the company. Vestmark Advisory Solutions Inc. acquired a new position in DraftKings during the 4th quarter worth approximately $6,844,000. Sapient Capital LLC acquired a new position in DraftKings during the fourth quarter worth approximately $692,000. M&T Bank Corp boosted its position in DraftKings by 134.9% during the fourth quarter. M&T Bank Corp now owns 45,571 shares of the company’s stock worth $1,606,000 after purchasing an additional 26,172 shares during the period. Los Angeles Capital Management LLC acquired a new position in DraftKings in the 4th quarter valued at about $18,122,000. Finally, Summit Financial LLC lifted its holdings in shares of DraftKings by 425.6% during the fourth quarter. Summit Financial LLC now owns 49,083 shares of the company’s stock worth $1,730,000 after buying an additional 39,745 shares in the last quarter. 37.70% of the stock is owned by institutional investors and hedge funds.

DraftKings Price Performance

DKNG stock traded up $1.72 during trading hours on Monday, hitting $43.54. 2,570,284 shares of the stock traded hands, compared to its average volume of 11,620,229. The stock has a 50-day simple moving average of $43.58 and a 200 day simple moving average of $38.92. DraftKings Inc. has a one year low of $22.65 and a one year high of $49.57. The company has a market cap of $37.73 billion, a P/E ratio of -35.44 and a beta of 1.87. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.49.

DraftKings (NASDAQ:DKNG) last announced its earnings results on Thursday, May 2nd. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.02). DraftKings had a negative net margin of 13.45% and a negative return on equity of 61.75%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the company earned ($0.87) earnings per share. The company’s revenue for the quarter was up 52.7% on a year-over-year basis. Equities analysts forecast that DraftKings Inc. will post -0.24 earnings per share for the current year.

Insider Buying and Selling

In other DraftKings news, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $40.89, for a total value of $8,178,000.00. Following the transaction, the insider now directly owns 3,195,812 shares of the company’s stock, valued at approximately $130,676,752.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other DraftKings news, insider R Stanton Dodge sold 686,101 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $43.06, for a total value of $29,543,509.06. Following the sale, the insider now owns 200,239 shares of the company’s stock, valued at approximately $8,622,291.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $40.89, for a total value of $8,178,000.00. Following the completion of the sale, the insider now owns 3,195,812 shares of the company’s stock, valued at approximately $130,676,752.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,086,101 shares of company stock valued at $45,903,509. Corporate insiders own 48.94% of the company’s stock.

Analysts Set New Price Targets

DKNG has been the topic of a number of recent research reports. Susquehanna raised their price objective on DraftKings from $54.00 to $56.00 and gave the stock a “positive” rating in a research note on Monday, April 29th. UBS Group boosted their target price on shares of DraftKings from $44.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Mizuho began coverage on shares of DraftKings in a research report on Tuesday, March 26th. They set a “buy” rating and a $58.00 target price for the company. Oppenheimer lifted their price target on DraftKings from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Finally, The Goldman Sachs Group assumed coverage on DraftKings in a report on Tuesday, April 16th. They set a “buy” rating and a $60.00 price objective for the company. Two research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, DraftKings presently has a consensus rating of “Moderate Buy” and an average target price of $48.00.

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.