MH & Associates Securities Management Corp ADV Acquires Shares of 45,828 DraftKings Inc. $DKNG

MH & Associates Securities Management Corp ADV acquired a new stake in shares of DraftKings Inc. (NASDAQ:DKNG) during the fourth quarter, Holdings Channel.com reports. The fund acquired 45,828 shares of the company’s stock, valued at approximately $1,579,000.

A number of other hedge funds also recently made changes to their positions in the company. Viking Global Investors LP purchased a new stake in shares of DraftKings during the third quarter valued at approximately $561,125,000. AQR Capital Management LLC raised its stake in shares of DraftKings by 63.5% during the third quarter. AQR Capital Management LLC now owns 11,685,672 shares of the company’s stock valued at $437,044,000 after purchasing an additional 4,538,007 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of DraftKings by 1.1% during the third 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 during the period. Capital World Investors increased its position in shares of DraftKings by 2.1% during the third quarter. Capital World Investors now owns 6,618,072 shares of the company’s stock worth $247,516,000 after acquiring an additional 138,891 shares during the last quarter. Finally, Eminence Capital LP increased its position in shares of DraftKings by 31.9% during the third quarter. Eminence Capital LP now owns 6,274,863 shares of the company’s stock worth $234,680,000 after acquiring an additional 1,517,413 shares during the last quarter. Hedge funds and other institutional investors own 37.70% of the company’s stock.

DraftKings Stock Up 4.3%

Shares of NASDAQ:DKNG opened at $23.94 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 firm has a market cap of $11.87 billion, a PE ratio of -598.50, a price-to-earnings-growth ratio of 0.93 and a beta of 1.68. DraftKings Inc. has a 12-month low of $20.46 and a 12-month high of $48.78. The company has a fifty day simple moving average of $24.25 and a 200 day simple moving average of $30.39.

Insider Transactions at DraftKings

In related news, insider R Stanton Dodge sold 52,777 shares of the business’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $32.01, for a total value of $1,689,391.77. Following the completion of the sale, the insider directly owned 500,000 shares of the company’s stock, valued at $16,005,000. The trade was a 9.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Liberman sold 484,417 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $25.16, for a total value of $12,187,931.72. Following the completion of the sale, the insider directly owned 213,597 shares of the company’s stock, valued at approximately $5,374,100.52. This represents a 69.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 549,495 shares of company stock valued at $14,166,700 over the last 90 days. Corporate insiders own 51.19% of the company’s stock.

Key DraftKings News

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Morgan Stanley flags DraftKings as having the “greatest upside” to Q1 consensus in the broader gaming group, supporting expectations for better-than-feared near-term revenue/earnings performance. DraftKings Shows ‘Greatest Upside’ to Q1 Consensus
• Positive Sentiment: Wells Fargo raised its price target to $31 and maintained an Overweight rating, giving investors a near-term bullish analyst catalyst and signaling ~30% upside from current levels. Wells Fargo price target raise
• Positive Sentiment: DraftKings reached a settlement with MLB players over use of likenesses on its betting site, removing a notable litigation overhang and reducing potential future damages or injunction risk. DraftKings settles MLB players’ lawsuit
• Neutral Sentiment: Coverage noting a sharp move in sports/retail-related apparel and gaming names mentions DraftKings among stocks seeing big intraday gains; useful for context but not a driver by itself. G-III, DraftKings, Matthews, PVH, and Columbia Sportswear Shares Skyrocket
• Neutral Sentiment: Analyst target revisions and related headlines are prompting Nasdaq futures focus — signals that sentiment/flows matter for short-term moves. DraftKings target revision sparks Nasdaq futures focus
• Neutral Sentiment: Recent coverage noting a one-day stock dip highlights volatility; investors should expect swing trading around news and analyst notes. DraftKings stock drops despite market gains
• Negative Sentiment: A federal appeals court ruling (favoring Kalshi) that state regulators can’t block certain prediction-market sports contracts strengthens regulatory/legal footing for prediction markets — a structural competitive threat to sportsbooks’ volumes and margins. Appeals court rules NJ can’t stop Kalshi bets on sports
• Negative Sentiment: Ongoing coverage about a “landmark” gambling lawsuit and a Fed study linking broader risks to betting firms keeps regulatory and reputational risk on the table, which could weigh on valuation multiples if policy scrutiny increases. DraftKings faces landmark gambling lawsuit and Fed study link

Wall Street Analysts Forecast Growth

DKNG has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $35.00 target price on shares of DraftKings in a research report on Tuesday, March 3rd. Citizens Jmp dropped their target price on DraftKings from $38.00 to $34.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 1st. Argus lowered DraftKings from a “buy” rating to a “hold” rating in a research report on Tuesday, March 17th. Mizuho dropped their target price on DraftKings from $46.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. dropped their target price on DraftKings from $41.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 17th. Twenty-five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $36.23.

About DraftKings

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.