DraftKings Inc. $DKNG Stock Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC grew its holdings in DraftKings Inc. (NASDAQ:DKNG) by 191.2% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 60,000 shares of the company’s stock after buying an additional 39,396 shares during the period. International Assets Investment Management LLC’s holdings in DraftKings were worth $1,140,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in DKNG. Renaissance Technologies LLC acquired a new position in DraftKings in the 1st quarter valued at about $17,660,000. Spruce House Investment Management LLC lifted its position in DraftKings by 129.6% during the 1st quarter. Spruce House Investment Management LLC now owns 9,650,000 shares of the company’s stock worth $208,633,000 after acquiring an additional 5,446,166 shares during the period. Janus Henderson Group PLC lifted its position in DraftKings by 9.3% during the 1st quarter. Janus Henderson Group PLC now owns 27,665,699 shares of the company’s stock worth $588,288,000 after acquiring an additional 2,351,790 shares during the period. Edgestream Partners L.P. acquired a new stake in DraftKings during the 1st quarter worth approximately $4,473,000. Finally, Entropy Technologies LP purchased a new position in shares of DraftKings in the 1st quarter valued at approximately $2,669,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

Key Stories Impacting DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Ahead of Q3 results, analysts pointed to momentum in DraftKings’ sportsbook, iGaming and Predictions businesses as potential growth drivers. DKNG Gears Up for Q3 Earnings: Sportsbook Growth & Costs in Focus
• Neutral Sentiment: Analyst views offered some support but also signaled caution: Bernstein cut its price target to $27 from $29 while retaining an “outperform” rating, while Needham’s $30 target was presented as evidence the selloff may have gone too far. Bernstein analyst update Needham’s $30 Target Says DraftKings’ Selloff Went Too Far
• Negative Sentiment: Marketing and other investments could weigh on Q3 profitability even as revenue drivers grow. Investors are also watching DraftKings’ costly push into prediction markets, where competition is increasing and regulations remain unsettled—risks that could limit returns or raise costs. DraftKings Faces Increasing Competition in Prediction Markets One Big Reason Investors Should Keep an Eye on DraftKings

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on DKNG shares. Wells Fargo & Company boosted their target price on DraftKings from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, October 19th. Sanford C. Bernstein cut their price target on DraftKings from $29.00 to $27.00 and set an “outperform” rating for the company in a research note on Tuesday. Susquehanna decreased their price target on DraftKings from $33.00 to $27.00 and set a “positive” rating for the company in a report on Thursday, October 8th. Needham & Company LLC lowered their price objective on shares of DraftKings from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday. Finally, UBS Group lowered their price objective on shares of DraftKings from $49.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, DraftKings currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.79.

DraftKings Price Performance

Shares of NASDAQ:DKNG opened at $23.11 on Thursday. DraftKings Inc. has a 52 week low of $18.35 and a 52 week high of $36.98. The company has a 50-day moving average price of $21.65 and a 200 day moving average price of $24.17. The company has a market cap of $11.47 billion, a P/E ratio of -60.82, a PEG ratio of 2.88 and a beta of 1.65. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.22.

DraftKings (NASDAQ:DKNG) last released its earnings results on Friday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.51 billion. DraftKings had a negative return on equity of 11.26% and a negative net margin of 2.68%. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS. Research analysts predict that DraftKings Inc. will post 0.31 earnings per share for the current year.

Insider Activity at DraftKings

In related news, Director Jocelyn Moore sold 10,759 shares of DraftKings stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $24.05, for a total value of $258,753.95. Following the sale, the director directly owned 1,881 shares in the company, valued at $45,238.05. The trade was a 85.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 47.18% of the stock is owned by corporate insiders.

DraftKings Profile

DraftKings Inc is a digital sports entertainment and gaming company that operates online and mobile platforms for sports betting, casino gaming and daily fantasy sports. Its offerings include the DraftKings Sportsbook, DraftKings Casino and daily fantasy contests covering a range of professional and collegiate sports.

The company also provides related entertainment and media content through DraftKings Network, along with free-to-play games, promotions and other interactive products designed to complement its sports and gaming platforms.