Hsbc Holdings PLC Has $3.35 Million Stake in DraftKings Inc. $DKNG

Hsbc Holdings PLC reduced its stake in DraftKings Inc. (NASDAQ:DKNG) by 33.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 96,942 shares of the company’s stock after selling 48,897 shares during the quarter. Hsbc Holdings PLC’s holdings in DraftKings were worth $3,347,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC lifted its stake in shares of DraftKings by 5.9% in the first quarter. Integrated Wealth Concepts LLC now owns 9,460 shares of the company’s stock worth $314,000 after buying an additional 524 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in DraftKings by 1,141.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,044 shares of the company’s stock valued at $1,463,000 after buying an additional 40,495 shares during the last quarter. Empowered Funds LLC raised its holdings in DraftKings by 18.0% in the 1st quarter. Empowered Funds LLC now owns 9,115 shares of the company’s stock worth $303,000 after acquiring an additional 1,391 shares during the period. Sivia Capital Partners LLC bought a new position in DraftKings in the 2nd quarter worth $603,000. Finally, Daiwa Securities Group Inc. lifted its position in DraftKings by 2.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 44,102 shares of the company’s stock worth $1,892,000 after acquiring an additional 968 shares during the last quarter. Institutional investors own 37.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DKNG. Moffett Nathanson cut shares of DraftKings from a “buy” rating to a “neutral” rating and decreased their price target for the company from $38.00 to $27.00 in a report on Friday, April 24th. Benchmark reissued a “buy” rating on shares of DraftKings in a research report on Monday, June 22nd. Weiss Ratings downgraded DraftKings from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Roth Capital raised shares of DraftKings from a “sell” rating to a “buy” rating in a report on Friday, April 24th. Finally, Zacks Research upgraded shares of DraftKings from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.46.

Insider Buying and Selling

In related news, insider R Stanton Dodge sold 62,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $29.68, for a total value of $1,855,000.00. Following the sale, the insider directly owned 556,258 shares of the company’s stock, valued at $16,509,737.44. This trade represents a 10.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Woodrow Levin sold 34,234 shares of DraftKings stock in a transaction on Monday, May 18th. The stock was sold at an average price of $25.71, for a total transaction of $880,156.14. Following the completion of the transaction, the director directly owned 29,820 shares in the company, valued at approximately $766,672.20. The trade was a 53.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 97,596 shares of company stock valued at $2,756,991. 47.18% of the stock is currently owned by corporate insiders.

Trending Headlines about DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: TD Cowen raised its price target on DraftKings to $35 from $30 and reiterated a Buy rating, signaling confidence in roughly 32% upside from current levels. Article Title
• Positive Sentiment: DraftKings announced it will launch its online sportsbook and casino in Alberta on July 13, expanding its North American footprint into its second Canadian province and 34th jurisdiction overall. Article Title
• Positive Sentiment: Michael Burry disclosed a stake in DraftKings, saying he bought shares around $26 and betting that competition from prediction markets will face tighter regulation over time, which helped fuel interest in beaten-down sportsbook stocks. Article Title
• Positive Sentiment: Analysts remain broadly constructive, with a consensus price target near $34.30 and the majority of ratings still at Buy, suggesting Wall Street sees meaningful upside if sentiment improves. Article Title
• Neutral Sentiment: Recent commentary highlighted conflicting analyst views and technical pressure, reflecting ongoing uncertainty about whether DKNG can stabilize after a sharp multi-month pullback. Article Title
• Negative Sentiment: A recent Yahoo Finance article warned of “3 Reasons to Sell DKNG”, reinforcing bearish sentiment after a difficult six months for the stock. Article Title
• Negative Sentiment: Another report noted DraftKings declined even as the broader market rose, underscoring investor concern that the stock remains vulnerable to sector competition and momentum weakness. Article Title

DraftKings Trading Up 0.7%

DKNG stock opened at $26.48 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.03. DraftKings Inc. has a twelve month low of $20.46 and a twelve month high of $48.78. The company has a market cap of $13.14 billion, a P/E ratio of 441.33 and a beta of 1.65. The business has a fifty day moving average of $25.72 and a 200-day moving average of $26.48.

DraftKings (NASDAQ:DKNG) last released its quarterly 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 firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the company earned ($0.07) EPS. The company’s revenue was up 16.8% compared to the same quarter last year. As a group, equities research analysts expect that DraftKings Inc. will post 0.6 EPS for the current year.

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.