Schroder Investment Management Group Boosts Stake in DraftKings Inc. $DKNG

Schroder Investment Management Group increased its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 7.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 822,106 shares of the company’s stock after acquiring an additional 57,333 shares during the period. Schroder Investment Management Group owned approximately 0.17% of DraftKings worth $30,747,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in DraftKings by 1.6% in the second quarter. Vanguard Group Inc. now owns 43,761,344 shares of the company’s stock valued at $1,876,924,000 after acquiring an additional 670,884 shares during the period. Geode Capital Management LLC grew its stake in shares of DraftKings by 5.4% during the 2nd quarter. Geode Capital Management LLC now owns 9,014,088 shares of the company’s stock worth $385,552,000 after purchasing an additional 458,452 shares during the period. Norges Bank acquired a new position in shares of DraftKings during the 2nd quarter worth $362,554,000. Massachusetts Financial Services Co. MA increased its holdings in shares of DraftKings by 1.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,473,099 shares of the company’s stock valued at $279,494,000 after purchasing an additional 79,152 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of DraftKings by 52.2% in the 2nd quarter. AQR Capital Management LLC now owns 7,147,665 shares of the company’s stock valued at $306,563,000 after purchasing an additional 2,451,421 shares in the last quarter. Hedge funds and other institutional investors own 37.70% of the company’s stock.

DraftKings Price Performance

Shares of NASDAQ DKNG opened at $25.57 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.91. The company’s 50-day moving average price is $28.26 and its 200 day moving average price is $33.55. DraftKings Inc. has a 52 week low of $21.01 and a 52 week high of $48.78. The stock has a market cap of $12.61 billion, a price-to-earnings ratio of -639.25, a PEG ratio of 1.03 and a beta of 1.67.

Trending Headlines about DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: DraftKings is rolling out a prediction?markets product (“DraftKings Predictions”) with integrations across ESPN and NBCUniversal, which could broaden engagement and add a new revenue stream that leverages its sportsbook customer base. This product push is a clear strategic catalyst for growth.
• Positive Sentiment: DraftKings launched a unified “super app” that combines betting and content; media coverage says the app is creating buzz and could increase customer engagement and cross?sell. Read More.
• Positive Sentiment: Short interest has come down from mid?February levels (reported ~32.1M shares after a ~16.9% drop), reducing some short?pressure risk and lowering the potential for future squeezes to drive volatility.
• Neutral Sentiment: Brokerage/analyst attention is elevated: multiple writeups note brokers view DKNG as a buy on average, and several stories are re?examining valuation after mixed short?term performance — this keeps DraftKings in investors’ screens but may produce mixed trading reactions. Read More.
• Neutral Sentiment: Coverage and search interest spikes (Zacks/MarketBeat summaries) increase visibility; that can amplify both inflows and volatility without guaranteeing direction. Read More.
• Negative Sentiment: Headwinds remain: DKNG is still well below its 50? and 200?day moving averages and is down materially year?to?date, valuation metrics remain stretched for a cash?burning company (negative PE, elevated debt/equity), so upside depends on execution and sustained margin improvement.

Analyst Upgrades and Downgrades

A number of analysts recently commented on DKNG shares. Citigroup reissued a “market outperform” rating on shares of DraftKings in a report on Tuesday, February 24th. Truist Financial dropped their target price on shares of DraftKings from $45.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft set a $26.00 price target on shares of DraftKings in a research report on Tuesday, February 17th. Stifel Nicolaus decreased their price target on DraftKings from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Finally, Guggenheim set a $37.00 price target on DraftKings in a report on Tuesday, February 17th. Twenty-five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.19.

Insider Buying and Selling at DraftKings

In other DraftKings news, Director Harry Sloan acquired 100,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was acquired at an average cost of $21.85 per share, with a total value of $2,185,000.00. Following the purchase, the director directly owned 350,219 shares in the company, valued at approximately $7,652,285.15. This trade represents a 39.96% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CAO Erik Bradbury sold 2,883 shares of DraftKings stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $24.56, for a total value of $70,806.48. Following the transaction, the chief accounting officer owned 38,168 shares of the company’s stock, valued at $937,406.08. This represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 62,928 shares of company stock valued at $1,923,728 over the last quarter. Corporate insiders own 51.19% of the company’s stock.

DraftKings Company Profile

DraftKings Inc is a leading digital sports entertainment and gaming company specializing in daily fantasy sports, sports betting and iGaming products. The company provides an integrated platform where users can participate in daily fantasy contests, place wagers on professional sports events, and enjoy a range of online casino-style games. DraftKings’ proprietary technology supports real-time odds, live scoring and advanced analytics to enhance the user experience across mobile and desktop applications.

Founded in 2012 by co-founders Jason Robins, Matthew Kalish and Paul Liberman, DraftKings began as a daily fantasy sports provider and rapidly expanded into regulated sports betting following legislative changes in the United States.