Littlejohn Financial Services Inc. Acquires New Position in DraftKings Inc. $DKNG

Posted by Brenda Bartman on May 16th, 2026

Littlejohn Financial Services Inc. acquired a new stake in shares of DraftKings Inc. (NASDAQ:DKNG – Free Report) during the 4th quarter, Holdings Channel reports. The fund acquired 29,830 shares of the company’s stock, valued at approximately $1,028,000.

Other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB boosted its holdings in shares of DraftKings by 1,996.2% during the 3rd quarter. Nordea Investment Management AB now owns 421,127 shares of the company’s stock valued at $16,205,000 after acquiring an additional 401,037 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of DraftKings by 1.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,473,099 shares of the company’s stock worth $279,494,000 after buying an additional 79,152 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of DraftKings by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 44,758,204 shares of the company’s stock worth $1,542,368,000 after buying an additional 1,354,457 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of DraftKings by 40.6% in the third quarter. Citigroup Inc. now owns 1,939,764 shares of the company’s stock worth $72,547,000 after buying an additional 560,139 shares during the last quarter. Finally, Bedell Frazier Investment Counselling LLC purchased a new position in shares of DraftKings in the third quarter worth approximately $4,492,000. 37.70% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting DraftKings

Here are the key news stories impacting DraftKings this week:

Positive Sentiment: Morgan Stanley said DraftKings could see an upside catalyst from the FIFA World Cup, which may drive incremental wagering activity over the next few months. DraftKings Faces Upside From FIFA World Cup Driving Incremental Wagers Over Next Few Months, Morgan Stanley Says
Positive Sentiment: Oppenheimer reaffirmed its Buy rating on DraftKings, and another article argued that the company’s earnings quality looks stronger than the headline statutory profit suggests, supporting the view that fundamentals may be better than the stock’s reaction implies. Oppenheimer Reaffirms Their Buy Rating on DraftKings (DKNG) Statutory Profit Doesn’t Reflect How Good DraftKings’ (NASDAQ:DKNG) Earnings Are
Positive Sentiment: DraftKings presented at MoffettNathanson’s Media, Internet & Communications Conference, which keeps management visible to investors and may help reinforce the company’s growth story. DraftKings Inc. (DKNG) Presents at MoffettNathanson’s Media, Internet & Communications Conference Transcript
Neutral Sentiment: Several articles focused on whether DraftKings is a “buy” based on Wall Street recommendations, but these pieces were largely commentary on analyst ratings rather than new company-specific developments. Is DraftKings (DKNG) a Buy as Wall Street Analysts Look Optimistic? Is DraftKings (DKNG) a Buy as Wall Street Analysts Look Optimistic?
Neutral Sentiment: DraftKings also announced Alan Ellingson’s participation in an upcoming event, which is mostly an informational update with limited immediate stock impact. DraftKings Announces Alan Ellingson’s Participation in Upcoming Event
Negative Sentiment: BNP Paribas Exane downgraded DraftKings to “strong sell,” adding pressure to the stock and reinforcing concerns that some analysts see downside from current levels. DraftKings was upgraded by BNP Paribas Exane to “strong sell”
Negative Sentiment: Commentary from Jim Cramer and related coverage highlighted DraftKings’ weak share performance over the past year, while noting Argus cut its rating to Hold, which may have added to investor caution. Jim Cramer Discusses Drafkings’ (DKNG) Performance

Insider Activity at DraftKings

In related news, insider Paul Liberman sold 484,417 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $25.16, for a total value of $12,187,931.72. Following the completion of the transaction, the insider directly owned 213,597 shares of the company’s stock, valued at approximately $5,374,100.52. This trade represents a 69.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Harry Sloan bought 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average cost of $21.85 per share, with a total value of $2,185,000.00. Following the completion of the acquisition, the director owned 350,219 shares of the company’s stock, valued at $7,652,285.15. This represents a 39.96% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have sold 496,718 shares of company stock worth $12,477,308. 47.18% of the stock is currently owned by corporate insiders.

DraftKings Trading Down 0.6%

DraftKings stock opened at $25.00 on Friday. The stock has a market cap of $12.40 billion, a P/E ratio of 416.67, a PEG ratio of 1.18 and a beta of 1.67. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.02 and a quick ratio of 1.03. DraftKings Inc. has a 1 year low of $20.46 and a 1 year high of $48.78. The firm’s 50 day moving average price is $23.68 and its 200-day moving average price is $28.14.

DraftKings (NASDAQ:DKNG – Get Free Report) last released its quarterly earnings data on Friday, May 8th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.02). The company had revenue of $1.65 billion for 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 company’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.07) EPS. On average, equities analysts predict that DraftKings Inc. will post 0.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

DKNG has been the topic of a number of research reports. Wedbush initiated coverage on shares of DraftKings in a report on Friday, April 24th. They issued an “outperform” rating on the stock. Wells Fargo & Company reissued an “overweight” rating and issued a $32.00 price objective on shares of DraftKings in a report on Sunday, May 10th. Bank of America dropped their price objective on shares of DraftKings from $37.50 to $30.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. Oppenheimer decreased their target price on shares of DraftKings from $50.00 to $35.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Finally, Raymond James Financial upgraded shares of DraftKings from a “market perform” rating to an “outperform” rating in a research note on Friday, April 24th. Twenty-seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, DraftKings has an average rating of “Moderate Buy” and a consensus price target of $34.32.

View Our Latest Report on DKNG

About DraftKings

(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.

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Want to see what other hedge funds are holding DKNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DraftKings Inc. (NASDAQ:DKNG – Free Report).

Institutional Ownership by Quarter for DraftKings (NASDAQ:DKNG)

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