Raine Capital LLC Has $9.85 Million Stock Position in DraftKings Inc. $DKNG

Raine Capital LLC lowered its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 40.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 263,445 shares of the company’s stock after selling 175,490 shares during the period. DraftKings accounts for approximately 71.3% of Raine Capital LLC’s portfolio, making the stock its biggest holding. Raine Capital LLC’s holdings in DraftKings were worth $9,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in DKNG. Ameriflex Group Inc. lifted its holdings in shares of DraftKings by 100.0% during the third quarter. Ameriflex Group Inc. now owns 810 shares of the company’s stock valued at $30,000 after purchasing an additional 405 shares during the last quarter. Root Financial Partners LLC bought a new stake in DraftKings in the third quarter worth $33,000. AlphaQuest LLC purchased a new stake in shares of DraftKings in the third quarter worth $41,000. TD Private Client Wealth LLC grew its stake in shares of DraftKings by 45.6% in the third quarter. TD Private Client Wealth LLC now owns 1,165 shares of the company’s stock worth $44,000 after acquiring an additional 365 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in shares of DraftKings during the second quarter valued at $45,000. Institutional investors own 37.70% of the company’s stock.

Insiders Place Their Bets

In other DraftKings news, insider R Stanton Dodge sold 52,777 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $32.01, for a total value of $1,689,391.77. Following the transaction, the insider directly owned 500,000 shares of the company’s stock, valued at approximately $16,005,000. This trade represents a 9.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Erik Bradbury sold 7,268 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $22.50, for a total transaction of $163,530.00. Following the sale, the chief accounting officer directly owned 36,736 shares of the company’s stock, valued at $826,560. The trade was a 16.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 112,822 shares of company stock valued at $3,638,895. Insiders own 51.19% of the company’s stock.

DraftKings News Roundup

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Arkansas sportsbook license approved — DraftKings secured licensure from the Arkansas Racing Commission to operate its online sportsbook on behalf of Southland Casino Hotel, opening access to ~2 million additional adults and enabling a pending launch once final approvals clear. DraftKings Secures License in Arkansas
• Positive Sentiment: U.S. footprint expands to 30 states — Coverage/market-access reporting highlights that DraftKings now reaches 30 U.S. states, which supports long-term top-line growth prospects from sportsbook and cross-sell opportunities. DraftKings Is Coming to Arkansas
• Neutral Sentiment: Heightened investor attention — Multiple outlets (Zacks, Yahoo) note increased interest from investors and pageviews, which can amplify intraday moves but is not inherently directional. Zacks: DraftKings Attracting Attention
• Neutral Sentiment: Sector/strategy context — Discussion of prediction-market themes and longer-term reassessment pieces frame DraftKings as part of a larger opportunity set; useful for strategic investors but not an immediate catalyst. Fool: Prediction Market Stocks
• Neutral Sentiment: Short-interest data for February shows inconsistent/zeroed figures in public feeds — the data release looks unreliable and doesn’t provide a clear short-pressure signal today. (No link — internal data)
• Negative Sentiment: Class-action lawsuit advances in Massachusetts — A consumer-protection suit challenging how DraftKings ran and disclosed certain high-profile promotions was allowed to proceed on most claims toward class certification and trial, adding legal and reputational risk that could pressure shares. Yahoo: DraftKings Lawsuit Raises Questions
• Negative Sentiment: Analyst price-target trimmed — BTIG lowered its target from $37 to $35 but kept a buy rating; the cut is mildly negative sentiment-wise even though upside remains. Benzinga: BTIG Lowers Target

DraftKings Price Performance

NASDAQ DKNG opened at $23.84 on Friday. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.03 and a quick ratio of 1.03. DraftKings Inc. has a 1-year low of $21.01 and a 1-year high of $48.78. The stock has a market capitalization of $11.75 billion, a price-to-earnings ratio of -596.00, a PEG ratio of 0.98 and a beta of 1.67. The business’s fifty day moving average price is $29.79 and its 200-day moving average price is $34.68.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DKNG shares. Rothschild & Co Redburn set a $35.00 price target on shares of DraftKings in a research note on Friday, January 30th. Needham & Company LLC dropped their target price on shares of DraftKings from $52.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Zacks Research lowered shares of DraftKings from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. JPMorgan Chase & Co. cut their target price on DraftKings from $41.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 17th. Finally, Citigroup restated a “market outperform” rating on shares of DraftKings in a research note on Tuesday. Twenty-four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $36.76.

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.