Cumberland Partners Ltd Buys Shares of 25,000 DraftKings Inc. $DKNG

Cumberland Partners Ltd purchased a new position in DraftKings Inc. (NASDAQ:DKNG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 25,000 shares of the company’s stock, valued at approximately $935,000.

Other hedge funds have also recently made changes to their positions in the company. Root Financial Partners LLC bought a new stake in DraftKings during the third quarter valued at about $33,000. Atlantic Union Bankshares Corp purchased a new stake in shares of DraftKings during the second quarter valued at about $45,000. AlphaQuest LLC bought a new stake in shares of DraftKings in the 3rd quarter valued at about $41,000. Delos Wealth Advisors LLC purchased a new position in shares of DraftKings in the 2nd quarter worth approximately $47,000. Finally, TD Private Client Wealth LLC lifted its position in DraftKings by 45.6% during the third quarter. TD Private Client Wealth LLC now owns 1,165 shares of the company’s stock valued at $44,000 after acquiring an additional 365 shares during the last quarter. 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: Director Harry Sloan bought 100,000 shares at about $21.85, increasing his stake ~40% — a material insider purchase that can signal management confidence and support demand under the stock. Harry Sloan Acquires 100,000 Shares of DraftKings (NASDAQ:DKNG) Stock
• Positive Sentiment: Barclays reiterated a Buy, offering institutional validation that may attract buyers despite mixed Street sentiment. DraftKings (DKNG) Gets a Buy from Barclays
• Neutral Sentiment: DraftKings and FanDuel are weighing a launch in Arkansas; entry could add growth but the state’s strict revenue‑sharing model may limit near‑term margin/earnings impact. FanDuel and DraftKings eye Arkansas sports betting launch despite strict revenue-sharing model
• Negative Sentiment: Multiple brokers cut price targets after Q4 2025 results and a reduced FY2026 revenue outlook — Needham cut its PT to $35 (from $52), JPMorgan to $32, Oppenheimer to $35, Mizuho to $44 and others issued lower targets or more cautious commentary. These cuts lower near‑term upside expectations and are the main driver of today’s weakness. Needham Lowers DraftKings (DKNG) PT to $35 Following Earnings Miss, Reduced Revenue Outlook
• Negative Sentiment: Broader Street skepticism (Goldman, Citi, Truist flagged downside/pessimism) and negative commentary pieces are pressuring retail sentiment and may amplify selling into the weaker technicals (stock near its 52‑week low and below 50/200‑day averages). The Goldman Sachs Group Issues Pessimistic Forecast for DraftKings (NASDAQ:DKNG) Stock Price

DraftKings Trading Down 3.1%

DraftKings stock opened at $22.49 on Friday. The stock has a 50-day moving average price of $31.22 and a 200 day moving average price of $35.64. The company has a market capitalization of $11.09 billion, a price-to-earnings ratio of -562.25, a price-to-earnings-growth ratio of 0.46 and a beta of 1.67. DraftKings Inc. has a 52 week low of $21.01 and a 52 week high of $50.50. The company has a quick ratio of 1.09, a current ratio of 1.03 and a debt-to-equity ratio of 2.91.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DKNG shares. Wells Fargo & Company set a $30.00 price target on DraftKings in a research report on Monday. BMO Capital Markets restated an “outperform” rating and set a $42.00 target price on shares of DraftKings in a research note on Friday, February 13th. Morgan Stanley upped their target price on DraftKings from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Deutsche Bank Aktiengesellschaft set a $26.00 price target on DraftKings in a research note on Tuesday. Finally, Citigroup lowered their price target on DraftKings from $48.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday. Twenty-four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, DraftKings presently has a consensus rating of “Moderate Buy” and an average price target of $37.89.

Insider Activity at DraftKings

In other DraftKings news, Director Harry Sloan bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was bought at an average cost of $21.85 per share, for a total transaction of $2,185,000.00. Following the completion of the transaction, the director directly owned 350,219 shares of the company’s stock, valued at approximately $7,652,285.15. This trade represents a 39.96% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider R Stanton Dodge sold 52,777 shares of the company’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $32.01, for a total transaction of $1,689,391.77. Following the completion of the sale, the insider directly owned 500,000 shares in the company, valued at approximately $16,005,000. The trade was a 9.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 51.19% 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.