Waycross Partners LLC Purchases New Shares in DraftKings Inc. $DKNG

Waycross Partners LLC purchased a new position in shares of DraftKings Inc. (NASDAQ:DKNG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 75,000 shares of the company’s stock, valued at approximately $2,584,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Viking Global Investors LP acquired a new position in shares of DraftKings during the 3rd quarter worth approximately $561,125,000. Norges Bank acquired a new stake in shares of DraftKings in the second quarter valued at approximately $362,554,000. AQR Capital Management LLC boosted its stake in shares of DraftKings by 63.5% in the third quarter. AQR Capital Management LLC now owns 11,685,672 shares of the company’s stock valued at $437,044,000 after buying an additional 4,538,007 shares during the period. Brown Advisory Inc. grew its position in DraftKings by 53,272.1% during the second quarter. Brown Advisory Inc. now owns 4,056,280 shares of the company’s stock worth $173,974,000 after buying an additional 4,048,680 shares in the last quarter. Finally, Eminence Capital LP grew its position in 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 buying an additional 1,517,413 shares in the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

Insider Buying and Selling

In related news, Director Jocelyn Moore sold 2,150 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $25.60, for a total value of $55,040.00. Following the completion of the transaction, the director owned 1,406 shares of the company’s stock, valued at $35,993.60. This represents a 60.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Erik Bradbury sold 2,883 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $24.56, for a total transaction of $70,806.48. Following the completion of the sale, the chief accounting officer owned 38,168 shares in the company, valued at $937,406.08. This represents a 7.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 549,495 shares of company stock worth $14,166,700 in the last quarter. Corporate insiders own 51.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Citizens Jmp reaffirmed a “market outperform” rating and issued a $38.00 price objective on shares of DraftKings in a report on Tuesday, March 3rd. Canaccord Genuity Group reduced their target price on DraftKings from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Wells Fargo & Company restated an “overweight” rating on shares of DraftKings in a research report on Tuesday, March 3rd. Berenberg Bank set a $26.40 price objective on shares of DraftKings in a research report on Tuesday, February 24th. Finally, Jefferies Financial Group set a $46.00 price objective on shares of DraftKings in a research note on Tuesday, March 3rd. Twenty-five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.09.

DraftKings Stock Performance

NASDAQ:DKNG opened at $20.72 on Friday. The stock’s 50-day simple moving average is $25.61 and its 200 day simple moving average is $31.68. The firm has a market capitalization of $10.21 billion, a PE ratio of -518.00, a price-to-earnings-growth ratio of 0.85 and a beta of 1.67. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.91. DraftKings Inc. has a twelve month low of $20.53 and a twelve month high of $48.78.

Key Headlines Impacting DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: ESPN account‑linking could expand customer access and cross‑sell opportunities, a strategic positive that may boost long‑term revenue if adoption scales. How Will DraftKings (DKNG) Benefit From ESPN Account Linking
• Neutral Sentiment: Wall Street consensus remains an average “Buy,” but coverage appears optimistic; analysts’ ratings can influence flows yet may not reflect near‑term legal/regulatory risk. Wall Street Analysts Think DraftKings (DKNG) Is a Good Investment: Is It?
• Neutral Sentiment: Educational/how‑to pieces and buy guides increase retail visibility but are unlikely to move the stock materially versus the regulatory/legal headlines. How to Buy DraftKings Stock (DKNG) in 2026
• Negative Sentiment: Reports of a bipartisan Senate bill targeting loosely regulated prediction markets have hit sentiment — the bill raises regulatory risk for DraftKings’ newer products and was a major driver of the selloff. A Look At DraftKings (DKNG) Valuation As Regulation Tailwinds Meet Legal Scrutiny
• Negative Sentiment: Ongoing legal exposure — including a high‑profile NCAA‑related lawsuit and a product liability angle — is elevating settlement and compliance risk, contributing to the stock’s sharp YTD decline. DraftKings (DKNG) Stock Plunges 10% Amid Senate Bill and NCAA Legal Battle
• Negative Sentiment: Investor litigation/investigation: Scott+Scott has opened an inquiry into DraftKings’ directors/officers for potential fiduciary breaches, increasing governance risk and potential distraction/costs. DRAFTKINGS INC. INVESTOR ALERT: Scott+Scott Attorneys at Law LLP Investigates DraftKings Inc.’s Directors and Officers
• Negative Sentiment: Technicals and momentum are weak: the stock is well below key moving averages, has extended a multi‑week slide, and is nearer its 52‑week low than its high — increasing the chance of further downside on poor news. DraftKings Stock Is Trending Today: What Does The Chart Say?

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.