DraftKings Inc. (NASDAQ: DKNG) Institutional Investors Quarterly Update
DraftKings Inc. (NASDAQ: DKNG) is a digital sports entertainment and gaming company. It is based in Boston, Massachusetts and was founded in 2012. The company offers daily fantasy sports, sports betting, and online casino gaming services. It operates in the United States, Canada, the United Kingdom, and Germany.
Business Overview
DraftKings Inc. is a digital sports entertainment and gaming company. It offers daily fantasy sports, sports betting, and online casino gaming services. The company operates in the United States, Canada, the United Kingdom, and Germany. It is the only publicly traded pure-play sports betting and online gaming company in the United States.
The company’s daily fantasy sports offering allows users to compete in contests across a variety of sports. It also offers sports betting services, which allow users to place bets on sporting events. The company’s online casino gaming services include slots, table games, and live dealer games.
Recent Developments
In March 2021, DraftKings Inc. announced that it had entered into a multi-year agreement with the National Basketball Association (NBA). Under the agreement, DraftKings will become the official daily fantasy sports and sports betting partner of the NBA. The agreement will also give DraftKings exclusive access to NBA data and content.
In April 2021, DraftKings Inc. announced that it had entered into a multi-year agreement with the National Hockey League (NHL). Under the agreement, DraftKings will become the official daily fantasy sports and sports betting partner of the NHL. The agreement will also give DraftKings exclusive access to NHL data and content.
In May 2021, DraftKings Inc. announced that it had entered into a multi-year agreement with the National Football League (NFL). Under the agreement, DraftKings will become the official daily fantasy sports and sports betting partner of the NFL. The agreement will also give DraftKings exclusive access to NFL data and content.
Institutional Investors
Institutional investors are entities that invest large sums of money in securities. They include mutual funds, pension funds, hedge funds, and insurance companies. Institutional investors are important to the success of a company because they provide capital and liquidity to the markets.
According to the latest data from the U.S. Securities and Exchange Commission (SEC), institutional investors hold a significant portion of DraftKings Inc.’s shares. As of March 31, 2021, institutional investors held approximately 77.3% of the company’s outstanding shares.
The largest institutional investor in DraftKings Inc. is BlackRock Inc., which holds approximately 10.2% of the company’s outstanding shares. Other major institutional investors include Vanguard Group Inc., Fidelity Management & Research Co., and State Street Corp.
Share Price Performance
DraftKings Inc.’s share price has been volatile over the past year. The company’s share price has ranged from a low of $27.00 to a high of $68.99. As of June 8, 2021, the company’s share price was $48.20.
Outlook
DraftKings Inc. is well-positioned to capitalize on the growing sports betting and online gaming markets. The company has recently entered into agreements with the NBA, NHL, and NFL, which will give it exclusive access to data and content. It also has a strong institutional investor base, which provides capital and liquidity to the markets.
The company’s share price has been volatile over the past year, but it appears to be on an upward trend. With its strong partnerships and institutional investor base, DraftKings Inc. is well-positioned to capitalize on the growing sports betting and online gaming markets.