Penn Capital Management Company LLC Reduces Stock Holdings in DraftKings Inc. $DKNG

Posted by George Bondi on May 28th, 2026

Penn Capital Management Company LLC reduced its stake in DraftKings Inc. (NASDAQ:DKNG – Free Report) by 38.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 32,837 shares of the company’s stock after selling 20,878 shares during the period. Penn Capital Management Company LLC’s holdings in DraftKings were worth $1,157,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in DKNG. Dagco Inc. purchased a new position in DraftKings in the fourth quarter valued at approximately $26,000. Ameriflex Group Inc. increased its stake in DraftKings by 100.0% in 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. Asset Dedication LLC purchased a new position in DraftKings in the third quarter valued at approximately $37,000. Montag A & Associates Inc. increased its stake in DraftKings by 82.5% in the fourth quarter. Montag A & Associates Inc. now owns 1,106 shares of the company’s stock valued at $38,000 after purchasing an additional 500 shares during the last quarter. Finally, Aventura Private Wealth LLC purchased a new position in DraftKings in the fourth quarter valued at approximately $39,000. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Jocelyn Moore sold 2,150 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $25.60, for a total transaction of $55,040.00. Following the completion of the sale, the director directly owned 1,406 shares of the company’s stock, valued at $35,993.60. This trade represents a 60.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Liberman sold 484,417 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $25.16, for a total value of $12,187,931.72. Following the sale, the insider directly owned 213,597 shares of the company’s stock, valued at approximately $5,374,100.52. This represents a 69.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 524,546 shares of company stock valued at $13,215,769 in the last ninety days. Company insiders own 47.18% of the company’s stock.

DraftKings Price Performance

DKNG stock opened at $25.07 on Thursday. The company has a market capitalization of $12.44 billion, a P/E ratio of 417.83 and a beta of 1.67. DraftKings Inc. has a twelve month low of $20.46 and a twelve month high of $48.78. The business has a 50 day simple moving average of $23.64 and a 200-day simple moving average of $27.85. 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 – Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.02). DraftKings had a net margin of 0.93% and a return on equity of 13.51%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the company posted ($0.07) earnings per share. DraftKings’s revenue was up 16.8% compared to the same quarter last year. As a group, equities analysts anticipate that DraftKings Inc. will post 0.62 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on DKNG. BNP Paribas Exane began coverage on shares of DraftKings in a research note on Thursday, May 14th. They issued an “underperform” rating and a $20.00 price target on the stock. JPMorgan Chase & Co. dropped their price target 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. The Goldman Sachs Group dropped their price target on shares of DraftKings from $54.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. HSBC upgraded shares of DraftKings from a “hold” rating to a “hold” rating in a research note on Friday, April 24th. Finally, BTIG Research increased their price target on shares of DraftKings from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.32.

View Our Latest Analysis on DKNG

DraftKings Profile

(Free Report)

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.