WINTON GROUP Ltd Sells 133,455 Shares of DraftKings Inc. $DKNG

Key Points

• WINTON GROUP Ltd cut its DraftKings stake by 93.5% in the second quarter, selling 133,455 shares and retaining 9,320 shares valued at approximately $235,000. Hedge funds and institutional investors own 37.7% of DKNG.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $34.36, despite several recent target reductions. UBS and Needham reaffirmed Buy ratings, while other commentary cited DraftKings’ 2025 decline as a potential valuation opportunity.
• DraftKings shares opened at $21.75, near their 12-month low of $20.46, amid competitive concerns from prediction-market platforms. The company beat quarterly EPS estimates but missed revenue expectations, with revenue down 4.6% year over year.

WINTON GROUP Ltd decreased its position in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 93.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 9,320 shares of the company's stock after selling 133,455 shares during the period. WINTON GROUP Ltd's holdings in DraftKings were worth $235,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in DKNG. CoreCap Advisors LLC grew its holdings in DraftKings by 336.5% in the 2nd quarter. CoreCap Advisors LLC now owns 1,148 shares of the company's stock worth $29,000 after acquiring an additional 885 shares during the last quarter. SHP Wealth Management bought a new stake in shares of DraftKings in the fourth quarter worth about $42,000. Basecamp Wealth Advisors LLC grew its stake in shares of DraftKings by 3,547.1% in the first quarter. Basecamp Wealth Advisors LLC now owns 1,240 shares of the company's stock worth $27,000 after purchasing an additional 1,206 shares during the last quarter. Ascentis Independent Advisors purchased a new position in DraftKings during the 1st quarter valued at about $27,000. Finally, TD Private Client Wealth LLC raised its position in DraftKings by 62.3% during the 4th quarter. TD Private Client Wealth LLC now owns 1,891 shares of the company's stock valued at $65,000 after purchasing an additional 726 shares during the last quarter. 37.70% of the stock is owned by hedge funds and other institutional investors.

More DraftKings News

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: UBS maintained a Buy rating while trimming its price target modestly from $49 to $48. Needham also reaffirmed its Buy rating with a $35 target, implying considerable potential upside from current levels. DraftKings analyst ratings
• Positive Sentiment: Several market commentaries argue that DraftKings’ roughly 35% decline in 2025 has created a valuation opportunity, with analysts still anticipating a possible recovery of approximately 50% or more. DraftKings stock plunges despite bullish analyst targets
• Neutral Sentiment: Coverage describing DraftKings entering a “new phase” highlights ongoing strategic development, while a separate TRWD licensing announcement concerns another company and does not appear to provide a direct catalyst for DKNG. What is driving DraftKings into a new phase
• Negative Sentiment: Prediction-market platform Kalshi is attracting substantial sports-event wagering volume following the start of the NFL season. Investors fear these event-contract platforms could compete with DraftKings for customer activity and betting dollars, despite CEO reassurances. DraftKings is losing to prediction markets
• Negative Sentiment: Commentary remains cautious after DraftKings underperformed the broader market. Jim Cramer advised a caller to consider moving on from the stock, reinforcing concerns about execution, valuation, and the lack of a clear near-term catalyst. Jim Cramer discusses moving on from DraftKings

Insider Transactions at DraftKings

In related news, Director Jocelyn Moore sold 10,759 shares of the business's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $24.05, for a total transaction of $258,753.95. Following the sale, the director owned 1,881 shares of the company's stock, valued at $45,238.05. The trade was a 85.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 47.18% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on DKNG shares. Morgan Stanley decreased their target price on DraftKings from $39.00 to $36.00 and set an "overweight" rating for the company in a report on Thursday, July 23rd. Guggenheim decreased their price objective on shares of DraftKings from $35.00 to $33.00 and set a "buy" rating for the company in a report on Monday, August 10th. Weiss Ratings cut shares of DraftKings from a "sell (d)" rating to a "sell (e+)" rating in a research report on Friday, August 21st. JPMorgan Chase & Co. cut their target price on shares of DraftKings from $34.00 to $33.00 and set an "overweight" rating on the stock in a research note on Monday, August 10th. Finally, Moffett Nathanson reduced their price target on shares of DraftKings from $27.00 to $25.00 in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $34.36.

DraftKings Trading Down 3.2%

NASDAQ DKNG opened at $21.75 on Friday. The firm has a market capitalization of $10.80 billion, a PE ratio of -57.24, a P/E/G ratio of 1.83 and a beta of 1.63. The stock's 50 day moving average is $24.32 and its 200 day moving average is $24.56. DraftKings Inc. has a twelve month low of $20.46 and a twelve month high of $44.22. 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 - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.30 earnings per share. Research analysts forecast that DraftKings Inc. will post 0.49 earnings per share for the current fiscal year.

About DraftKings

DraftKings Inc is a digital sports entertainment and gaming company that operates online sports betting, iGaming and daily fantasy sports platforms. Its products enable customers to place bets on professional and collegiate sports, play online casino games where permitted, and participate in fantasy contests across a range of sports.

The company also offers related services, including retail sportsbooks in select jurisdictions and sports media content through DraftKings Network. Its offerings are available in U.S.

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