WINTON GROUP Ltd Makes New $1.37 Million Investment in DraftKings Inc. $DKNG

WINTON GROUP Ltd acquired a new stake in DraftKings Inc. (NASDAQ:DKNG) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 36,594 shares of the company’s stock, valued at approximately $1,369,000.

A number of other hedge funds also recently made changes to their positions in DKNG. Ameriflex Group Inc. increased its holdings in shares of DraftKings by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 810 shares of the company’s stock worth $30,000 after acquiring an additional 405 shares during the last quarter. Root Financial Partners LLC acquired a new stake in DraftKings during the 3rd quarter valued at $33,000. AlphaQuest LLC bought a new position in DraftKings during the third quarter worth $41,000. TD Private Client Wealth LLC lifted its stake in shares of DraftKings by 45.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,165 shares of the company’s stock worth $44,000 after buying an additional 365 shares during the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of DraftKings during the 2nd quarter worth about $45,000. 37.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other DraftKings news, CAO Erik Bradbury sold 2,883 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $24.56, for a total transaction of $70,806.48. Following the sale, the chief accounting officer directly owned 38,168 shares in the company, valued at $937,406.08. This represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider R Stanton Dodge sold 52,777 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $32.01, for a total transaction of $1,689,391.77. Following the completion of the transaction, the insider directly owned 500,000 shares in the company, valued at approximately $16,005,000. This represents a 9.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 62,928 shares of company stock valued at $1,923,728 over the last quarter. 51.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on DKNG shares. Deutsche Bank Aktiengesellschaft set a $26.00 price target on shares of DraftKings in a research note on Tuesday, February 17th. Citigroup reaffirmed a “market outperform” rating on shares of DraftKings in a research report on Tuesday, February 24th. Susquehanna set a $33.00 target price on DraftKings in a research note on Tuesday, February 17th. Rothschild & Co Redburn set a $35.00 price target on DraftKings in a research note on Friday, January 30th. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of DraftKings in a research report on Tuesday, March 3rd. Twenty-five research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.19.

DraftKings Stock Performance

NASDAQ:DKNG opened at $25.57 on Thursday. The company 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. DraftKings Inc. has a fifty-two week low of $21.01 and a fifty-two week high of $48.78. The company has a debt-to-equity ratio of 2.91, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a fifty day moving average price of $28.26 and a 200-day moving average price of $33.55.

More DraftKings News

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.

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.