Capital Research Global Investors Sells 641,609 Shares of DraftKings Inc. $DKNG

Capital Research Global Investors cut its holdings in DraftKings Inc. (NASDAQ:DKNG) by 13.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,243,201 shares of the company’s stock after selling 641,609 shares during the quarter. Capital Research Global Investors’ holdings in DraftKings were worth $158,696,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC lifted its position in shares of DraftKings by 5.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 9,460 shares of the company’s stock valued at $314,000 after acquiring an additional 524 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in DraftKings by 1,141.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,044 shares of the company’s stock worth $1,463,000 after purchasing an additional 40,495 shares during the period. Empowered Funds LLC increased its stake in DraftKings by 18.0% in the first quarter. Empowered Funds LLC now owns 9,115 shares of the company’s stock valued at $303,000 after purchasing an additional 1,391 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in DraftKings in the second quarter valued at $603,000. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of DraftKings during the second quarter valued at about $45,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

DraftKings Trading Up 1.7%

NASDAQ:DKNG opened at $25.57 on Thursday. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a 50-day moving average of $28.26 and a 200-day moving average of $33.55. The company has a market cap of $12.61 billion, a PE ratio of -639.25, a PEG ratio of 1.03 and a beta of 1.67. DraftKings Inc. has a one year low of $21.01 and a one year high of $48.78.

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.

Insider Buying and Selling at DraftKings

In other DraftKings news, insider R Stanton Dodge sold 52,777 shares of DraftKings stock in a transaction dated Tuesday, January 20th. The stock was 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 owned 500,000 shares in the company, valued at approximately $16,005,000. The trade was a 9.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harry Sloan acquired 100,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were bought at an average cost of $21.85 per share, with a total value of $2,185,000.00. Following the completion of the acquisition, the director directly owned 350,219 shares in the company, valued at approximately $7,652,285.15. This represents a 39.96% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders sold 62,928 shares of company stock worth $1,923,728. Insiders own 51.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DKNG. Wells Fargo & Company reissued an “overweight” rating on shares of DraftKings in a research report on Tuesday, March 3rd. Texas Capital raised DraftKings to a “hold” rating in a research report on Thursday, January 8th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $30.00 price target on shares of DraftKings in a research note on Thursday, March 5th. UBS Group reiterated a “buy” rating on shares of DraftKings in a report on Wednesday, January 7th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $38.00 price objective on shares of DraftKings in a research note on Tuesday, March 3rd. Twenty-five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, DraftKings has an average rating of “Moderate Buy” and an average price target of $37.19.

DraftKings 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.