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

Key Points

• MH & Associates Securities Management Corp ADV initiated a new stake in DraftKings, purchasing 45,828 shares in Q4 valued at about $1,579,000.
• Insiders sold a total of 549,495 shares (~$14.17 million) in the past three months, although company insiders still hold 51.19% of the stock.
• Analysts show a Moderate Buy consensus with an average price target of $36.23 (Wells Fargo raised its target to $31), and DraftKings recently settled an MLB likeness lawsuit while the stock was trading up about 4.3%.

MH & Associates Securities Management Corp ADV purchased a new stake in DraftKings Inc. (NASDAQ:DKNG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 45,828 shares of the company's stock, valued at approximately $1,579,000.

Other hedge funds also recently added to or reduced their stakes in the company. IHT Wealth Management LLC lifted its stake in shares of DraftKings by 4.1% during the 2nd quarter. IHT Wealth Management LLC now owns 6,271 shares of the company's stock worth $269,000 after purchasing an additional 248 shares during the period. Orion Porfolio Solutions LLC lifted its holdings in shares of DraftKings by 3.1% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 10,608 shares of the company's stock worth $397,000 after acquiring an additional 321 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of DraftKings by 7.3% during the 3rd quarter. Geneos Wealth Management Inc. now owns 4,793 shares of the company's stock worth $179,000 after acquiring an additional 328 shares during the period. Valeo Financial Advisors LLC lifted its holdings in shares of DraftKings by 3.6% during the 2nd quarter. Valeo Financial Advisors LLC now owns 10,009 shares of the company's stock worth $429,000 after acquiring an additional 348 shares during the period. Finally, Huntleigh Advisors Inc. lifted its holdings in shares of DraftKings by 0.8% during the 3rd quarter. Huntleigh Advisors Inc. now owns 43,630 shares of the company's stock worth $1,632,000 after acquiring an additional 363 shares during the period. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting DraftKings

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

DraftKings Trading Up 4.3%

NASDAQ DKNG opened at $23.94 on Thursday. DraftKings Inc. has a one year low of $20.46 and a one year high of $48.78. The company's 50 day moving average price is $24.25 and its 200 day moving average price is $30.39. The company has a debt-to-equity ratio of 2.91, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $11.87 billion, a price-to-earnings ratio of -598.50, a PEG ratio of 0.93 and a beta of 1.68.

Insider Transactions at DraftKings

In related news, insider R Stanton Dodge sold 52,777 shares of the firm's stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $32.01, for a total value of $1,689,391.77. Following the transaction, the insider owned 500,000 shares in the company, valued at approximately $16,005,000. This trade represents a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul Liberman sold 484,417 shares of the firm'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 transaction, the insider directly owned 213,597 shares in the company, valued at $5,374,100.52. This trade represents a 69.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 549,495 shares of company stock valued at $14,166,700 in the last three months. 51.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Sanford C. Bernstein reiterated an "outperform" rating and set a $30.00 price objective on shares of DraftKings in a report on Thursday, March 5th. Deutsche Bank Aktiengesellschaft set a $26.00 price objective on shares of DraftKings in a report on Tuesday, February 17th. Texas Capital upgraded shares of DraftKings to a "hold" rating in a report on Thursday, January 8th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of DraftKings in a research report on Wednesday, January 21st. Finally, Citigroup reaffirmed a "market outperform" rating on shares of DraftKings in a research report on Tuesday, February 24th. Twenty-five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $36.23.

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.

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