Banco BTG Pactual S.A. Takes Position in DraftKings Inc. $DKNG

Key Points

• Banco BTG Pactual S.A. opened a new position in DraftKings, buying 70,000 shares in the fourth quarter valued at about $2.41 million. Other institutional investors also increased their stakes, and institutions now own 37.7% of the stock.
• DraftKings beat revenue expectations but missed on earnings in its latest quarterly report. The company posted $0.20 EPS versus the $0.22 estimate, while revenue rose 16.8% year over year to $1.65 billion.
• Wall Street sentiment remains broadly positive, with DraftKings carrying a consensus “Moderate Buy” rating and a $34.21 average price target. The stock was also trading up 4.3% in the session cited, despite insider selling by Director Woodrow Levin.

Banco BTG Pactual S.A. bought a new stake in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 70,000 shares of the company's stock, valued at approximately $2,412,000.

Several other institutional investors have also made changes to their positions in the business. Caerus Investment Advisors LLC boosted its position in shares of DraftKings by 16.0% during the 4th quarter. Caerus Investment Advisors LLC now owns 21,618 shares of the company's stock valued at $745,000 after acquiring an additional 2,988 shares in the last quarter. Nuveen LLC boosted its position in shares of DraftKings by 18.0% during the 4th quarter. Nuveen LLC now owns 1,588,267 shares of the company's stock valued at $54,732,000 after acquiring an additional 242,132 shares in the last quarter. Xponance LLC boosted its position in shares of DraftKings by 3.1% during the 4th quarter. Xponance LLC now owns 97,898 shares of the company's stock valued at $3,374,000 after acquiring an additional 2,963 shares in the last quarter. Scholtz & Company LLC boosted its position in shares of DraftKings by 36.3% during the 4th quarter. Scholtz & Company LLC now owns 97,581 shares of the company's stock valued at $3,363,000 after acquiring an additional 26,002 shares in the last quarter. Finally, ARK Investment Management LLC boosted its position in shares of DraftKings by 32.0% during the 4th quarter. ARK Investment Management LLC now owns 4,540,766 shares of the company's stock valued at $156,475,000 after acquiring an additional 1,101,850 shares in the last quarter. 37.70% of the stock is currently owned by institutional investors and hedge funds.

DraftKings Trading Up 4.3%

Shares of NASDAQ DKNG opened at $30.02 on Friday. DraftKings Inc. has a 1-year low of $20.46 and a 1-year high of $48.78. The company has a market cap of $14.89 billion, a PE ratio of 500.33 and a beta of 1.66. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.03. The company has a 50-day moving average of $24.34 and a two-hundred day moving average of $27.56.

DraftKings (NASDAQ:DKNG - Get Free Report) last announced its earnings results on Friday, May 8th. The company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($0.02). DraftKings had a return on equity of 13.51% and a net margin of 0.93%.The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the prior year, the firm posted ($0.07) earnings per share. The company's revenue was up 16.8% on a year-over-year basis. As a group, equities analysts expect that DraftKings Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Scotiabank upgraded shares of DraftKings to an "outperform" rating in a research report on Friday, April 24th. Bank of America decreased their target price on shares of DraftKings from $37.50 to $30.00 and set a "neutral" rating on the stock in a research report on Friday, February 13th. Deutsche Bank Aktiengesellschaft lowered shares of DraftKings from a "hold" rating to a "hold" rating in a research report on Friday, April 24th. Mizuho lifted their target price on shares of DraftKings from $44.00 to $45.00 and gave the company an "outperform" rating in a research report on Tuesday, May 12th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $32.00 price target on shares of DraftKings in a research report on Sunday, May 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $34.21.

More DraftKings News

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: DraftKings’ Predictions platform showed strong May growth, with annualized volume climbing to $3.1 billion, reinforcing the case for a new growth driver. DKNG Bulls Are Eyeing A Breakout After Strongest Weekly Rally In 16 Months – But JPMorgan Says One Major Gap Remains
• Positive Sentiment: Analysts are calling DraftKings a potential beneficiary of the 2026 FIFA World Cup, which could lift betting volume and user engagement. Intel surges on rare double upgrade, DraftKings scores ahead of World Cup
• Positive Sentiment: Heavy call-option activity signals bullish trader positioning and expectations for continued near-term upside. DraftKings Hits the Jackpot With Super App Pivot
• Neutral Sentiment: JPMorgan said DraftKings’ May operational data showed progress, but not enough to confirm immediate upside yet. DKNG Bulls Are Eyeing A Breakout After Strongest Weekly Rally In 16 Months – But JPMorgan Says One Major Gap Remains
• Neutral Sentiment: UBS reiterated a Buy rating, adding to generally supportive sell-side sentiment. UBS Remains a Buy on DraftKings (DKNG)

Insider Buying and Selling at DraftKings

In other DraftKings news, Director Woodrow Levin sold 34,234 shares of the business's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $25.71, for a total value of $880,156.14. Following the completion of the transaction, the director directly owned 29,820 shares of the company's stock, valued at approximately $766,672.20. The trade was a 53.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 47.18% of the company's stock.

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.

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