Cumberland Partners Ltd Takes $935,000 Position in DraftKings Inc. $DKNG

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

Several other large investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of DraftKings in the 2nd quarter valued at approximately $362,554,000. Brown Advisory Inc. increased its position in shares of DraftKings by 53,272.1% during the 2nd quarter. Brown Advisory Inc. now owns 4,056,280 shares of the company’s stock valued at $173,974,000 after purchasing an additional 4,048,680 shares during the last quarter. AQR Capital Management LLC raised its holdings in DraftKings by 52.2% during the 2nd quarter. AQR Capital Management LLC now owns 7,147,665 shares of the company’s stock valued at $306,563,000 after buying an additional 2,451,421 shares during the period. Columbus Hill Capital Management L.P. lifted its position in DraftKings by 1,379.5% in the second quarter. Columbus Hill Capital Management L.P. now owns 1,183,580 shares of the company’s stock worth $50,764,000 after buying an additional 1,103,580 shares during the last quarter. Finally, Bamco Inc. NY lifted its position in DraftKings by 33.9% in the second quarter. Bamco Inc. NY now owns 3,670,460 shares of the company’s stock worth $157,426,000 after buying an additional 929,997 shares during the last quarter. 37.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DKNG. Truist Financial cut their price objective on shares of DraftKings from $45.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DraftKings in a research note on Wednesday, January 21st. Sanford C. Bernstein set a $28.00 price target on shares of DraftKings in a report on Monday. Stifel Nicolaus reduced their price objective on shares of DraftKings from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Company set a $30.00 target price on DraftKings in a research report on Monday. Twenty-four analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $37.89.

Key Headlines 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 Stock Down 3.1%

Shares of NASDAQ:DKNG opened at $22.49 on Friday. The business’s 50 day moving average is $31.22 and its 200 day moving average is $35.64. The stock has a market cap of $11.09 billion, a P/E 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.

Insider Buying and Selling at DraftKings

In other DraftKings news, Director Harry Sloan bought 100,000 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were bought at an average cost of $21.85 per share, for a total transaction of $2,185,000.00. Following the acquisition, the director directly owned 350,219 shares in the company, valued at approximately $7,652,285.15. The trade was a 39.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider R Stanton Dodge sold 52,777 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 500,000 shares in the company, valued at $16,005,000. This trade represents a 9.55% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 51.19% of the company’s stock.

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.