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

Hsbc Holdings PLC reduced its position in DraftKings Inc. (NASDAQ:DKNG) by 33.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 96,942 shares of the company’s stock after selling 48,897 shares during the period. Hsbc Holdings PLC’s holdings in DraftKings were worth $3,347,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Dagco Inc. acquired a new position in shares of DraftKings during the fourth quarter valued at $26,000. Ameriflex Group Inc. increased its position in DraftKings by 100.0% in the third quarter. Ameriflex Group Inc. now owns 810 shares of the company’s stock worth $30,000 after purchasing an additional 405 shares during the period. Asset Dedication LLC acquired a new stake in DraftKings in the third quarter worth about $37,000. Montag A & Associates Inc. raised its holdings in DraftKings by 82.5% during the 4th quarter. Montag A & Associates Inc. now owns 1,106 shares of the company’s stock worth $38,000 after purchasing an additional 500 shares during the last quarter. Finally, Aventura Private Wealth LLC bought a new stake in DraftKings during the 4th quarter worth about $39,000. Institutional investors own 37.70% of the company’s stock.

Wall Street Analyst Weigh In

DKNG has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of DraftKings from $32.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, April 16th. Jefferies Financial Group reissued a “buy” rating on shares of DraftKings in a research note on Wednesday, June 10th. Weiss Ratings lowered shares of DraftKings from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. Morgan Stanley reaffirmed an “overweight” rating on shares of DraftKings in a research note on Thursday, May 21st. Finally, New Street Research set a $29.00 target price on shares of DraftKings in a report on Monday, June 1st. One 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 currently has an average rating of “Moderate Buy” and an average target price of $34.27.

Insider Buying and Selling

In other DraftKings news, insider R Stanton Dodge sold 62,500 shares of the stock in a transaction 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 in the company, valued at approximately $16,509,737.44. This trade represents a 10.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 transaction, the director directly owned 29,820 shares in the company, valued at approximately $766,672.20. This represents a 53.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 97,596 shares of company stock valued at $2,756,991. Corporate insiders own 47.18% of the company’s stock.

DraftKings Price Performance

DraftKings stock opened at $25.70 on Monday. The firm has a market capitalization of $12.75 billion, a P/E ratio of 428.33 and a beta of 1.66. DraftKings Inc. has a 1 year low of $20.46 and a 1 year high of $48.78. The business has a 50-day moving average of $25.09 and a 200-day moving average of $27.02. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.03.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. DraftKings had a net margin of 0.93% and a return on equity of 13.51%. The business’s revenue was up 16.8% compared to the same quarter last year. During the same period last year, the company earned ($0.07) earnings per share. On average, equities analysts anticipate that DraftKings Inc. will post 0.6 EPS for the current year.

Key Headlines Impacting DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: DraftKings launched DKeX, its proprietary prediction markets exchange, and integrated it into the DraftKings: Sports & Casino app, giving the company more control over product design, economics, and the customer experience. DraftKings Launches Proprietary Exchange to Bolster Differentiated Predictions Experience
• Positive Sentiment: Investors are encouraged by evidence that DraftKings’ Predictions business is gaining traction, with recent filings showing rising trading volume and management signaling that prediction markets could become a meaningful part of its long-term “super app” strategy. DraftKings Gains as Investors Cheer Prediction-Market Push
• Positive Sentiment: Analyst commentary and recent price-target updates remain constructive, reinforcing the view that the prediction-markets rollout could support revenue growth and sentiment around the stock. DraftKings Shares Climb After Company Unveils DKeX, Its Own Prediction Markets Exchange
• Neutral Sentiment: Some reports note that DraftKings remains volatile as investors balance the upside from prediction markets against profitability, litigation, and macroeconomic risks. DraftKings shares volatile as investors weigh prediction market growth against profitability risks
• Negative Sentiment: Recent articles also highlighted pressure from broader market weakness and concerns about competition, reminding investors that the stock can still swing sharply even after the product launch. Why Is DraftKings Stock Falling On Thursday?

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.