Brevan Howard Capital Management LP Buys 39,970 Shares of DraftKings Inc. $DKNG

Brevan Howard Capital Management LP increased its stake in DraftKings Inc. (NASDAQ:DKNG) by 74.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,438 shares of the company’s stock after acquiring an additional 39,970 shares during the quarter. Brevan Howard Capital Management LP’s holdings in DraftKings were worth $3,495,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DKNG. Ameriflex Group Inc. raised its holdings in DraftKings by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 810 shares of the company’s stock worth $30,000 after purchasing an additional 405 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of DraftKings in the 3rd quarter valued at $33,000. AlphaQuest LLC acquired a new stake in shares of DraftKings during the third quarter worth $41,000. TD Private Client Wealth LLC increased its position in shares of DraftKings by 45.6% during the third quarter. TD Private Client Wealth LLC now owns 1,165 shares of the company’s stock worth $44,000 after buying an additional 365 shares during the period. Finally, Delos Wealth Advisors LLC bought a new position in DraftKings during the second quarter worth $47,000. 37.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DKNG. Truist Financial dropped their target price on shares of DraftKings from $45.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Zacks Research downgraded DraftKings from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. Berenberg Bank set a $26.40 price objective on DraftKings in a research report on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft set a $26.00 price objective on DraftKings in a research note on Tuesday, February 17th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of DraftKings in a research report on Tuesday, March 3rd. Twenty-five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, DraftKings presently has a consensus rating of “Moderate Buy” and an average target price of $37.09.

DraftKings Price Performance

Shares of DKNG opened at $24.90 on Tuesday. DraftKings Inc. has a 12-month low of $21.01 and a 12-month high of $48.78. The business’s fifty day moving average is $27.66 and its 200 day moving average is $32.99. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.91. The stock has a market cap of $12.28 billion, a P/E ratio of -622.50, a P/E/G ratio of 1.06 and a beta of 1.67.

Insider Buying and Selling at DraftKings

In other news, CAO Erik Bradbury sold 2,883 shares of DraftKings stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $24.56, for a total transaction of $70,806.48. Following the completion of the transaction, the chief accounting officer directly owned 38,168 shares in the company, valued at $937,406.08. This trade represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harry Sloan bought 100,000 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were acquired at an average cost of $21.85 per share, with a total value of $2,185,000.00. Following the completion of the transaction, the director owned 350,219 shares of the company’s stock, valued at $7,652,285.15. This represents a 39.96% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 549,495 shares of company stock worth $14,166,700 in the last ninety days. 47.08% of the stock is currently owned by corporate insiders.

DraftKings News Summary

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Bernstein reiterated an “Outperform” rating and nudged its price target higher (from $28 to $30), reinforcing bullish analyst conviction around DraftKings’ expansion prospects and supporting longer‑term upside. Bernstein Remains Bullish on DraftKings
• Positive Sentiment: DraftKings’ strategic relationship with ESPN appears to be deepening and the company is evaluating federal rule changes — developments that could expand distribution and product reach if regulatory shifts are favorable. DraftKings Weighs Federal Rule Shift As ESPN Tie Up Deepens
• Neutral Sentiment: Brokerage consensus remains around a “Moderate Buy,” reflecting steady but not unanimous bullishness from analysts; this keeps expectations tempered rather than amplifying volatility. DraftKings Receives Average Recommendation of “Moderate Buy”
• Neutral Sentiment: Market commentary is focused on whether current pricing fairly reflects DraftKings’ recent volatility and growth outlook — recent short‑term gains contrast with weaker year‑to‑date/one‑year returns, leaving valuation debates unresolved. Is DraftKings Pricing Reflect Its Recent Volatility And Growth Prospects
• Negative Sentiment: UBS trimmed its price target from $53 to $43 while keeping a “buy” rating — a notable downward revision that reduces implied upside and can weigh on sentiment even though the rating stayed positive. UBS Lowers DraftKings Price Target
• Negative Sentiment: Director Jocelyn Moore sold 2,150 shares (disclosed in an SEC filing), reducing her holding by ~60% — an insider sale that investors often read as a negative signal about near‑term insider conviction. Director Jocelyn Moore Sells Shares

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.