DraftKings (NASDAQ:DKNG – Get Free Report) announced its earnings results on Thursday. The company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.13, Briefing.com reports. DraftKings had a negative return on equity of 49.31% and a negative net margin of 9.45%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the business earned ($0.17) EPS. The business’s quarterly revenue was up 26.2% compared to the same quarter last year. DraftKings updated its FY 2024 guidance to EPS.
DraftKings Trading Down 11.0 %
DKNG stock opened at $28.51 on Monday. DraftKings has a one year low of $25.41 and a one year high of $49.57. The company has a market capitalization of $24.78 billion, a PE ratio of -27.14 and a beta of 1.81. The company’s 50 day moving average price is $37.74 and its two-hundred day moving average price is $41.03. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.34 and a current ratio of 1.34.
Insider Activity at DraftKings
In other news, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $43.59, for a total value of $8,718,000.00. Following the completion of the sale, the insider now owns 2,668,954 shares of the company’s stock, valued at approximately $116,339,704.86. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Jocelyn Moore sold 1,450 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $35.92, for a total transaction of $52,084.00. Following the completion of the transaction, the director now directly owns 6,814 shares of the company’s stock, valued at $244,758.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $43.59, for a total value of $8,718,000.00. Following the completion of the sale, the insider now directly owns 2,668,954 shares in the company, valued at $116,339,704.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,383,546 shares of company stock valued at $55,279,617. Insiders own 51.19% of the company’s stock.
Wall Street Analyst Weigh In
View Our Latest Stock Analysis on DraftKings
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.
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