Brevan Howard Capital Management LP Has $3.50 Million Stake in DraftKings Inc. $DKNG

Brevan Howard Capital Management LP increased its stake in shares of DraftKings Inc. (NASDAQ:DKNG) by 74.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,438 shares of the company’s stock after buying 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.

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

Key DraftKings News

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

Insider Transactions at DraftKings

In other DraftKings news, Director Harry Sloan purchased 100,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was purchased at an average price of $21.85 per share, with a total value of $2,185,000.00. Following the completion of the purchase, the director owned 350,219 shares of the company’s stock, 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 document filed with the SEC, which is available at this link. Also, insider Paul Liberman sold 484,417 shares of DraftKings stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $25.16, for a total transaction of $12,187,931.72. Following the transaction, the insider owned 213,597 shares in the company, valued at approximately $5,374,100.52. This trade represents a 69.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 549,495 shares of company stock worth $14,166,700. 47.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on DKNG shares. Barclays reiterated an “overweight” rating on shares of DraftKings in a research note on Tuesday, March 3rd. Mizuho dropped their target price on shares of DraftKings from $46.00 to $44.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. Northland Securities set a $24.00 price target on shares of DraftKings in a report on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft set a $26.00 price target on shares of DraftKings in a research report on Tuesday, February 17th. Finally, Benchmark reissued a “buy” rating on shares of DraftKings in a research note on Tuesday, March 3rd. Twenty-five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, DraftKings presently has an average rating of “Moderate Buy” and a consensus price target of $37.09.

DraftKings Stock Down 3.7%

NASDAQ:DKNG opened at $24.90 on Tuesday. DraftKings Inc. has a one year low of $21.01 and a one year high of $48.78. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $12.28 billion, a PE ratio of -622.50, a P/E/G ratio of 1.06 and a beta of 1.67. The firm’s 50 day simple moving average is $27.66 and its 200 day simple moving average is $32.99.

About DraftKings

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.