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MarketScreener Homepage  >  Equities  >  Nasdaq  >  DraftKings Inc.    DKNG

DRAFTKINGS INC.

(DKNG)
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DraftKings : Boehly's Eldridge invests in financial technology firm CAIS

11/18/2020 | 02:00pm EST

NEW YORK, Nov 18 (Reuters) - Eldridge, the investment firm led by Los Angeles Dodgers owner Todd Boehly, has agreed to invest $50 million in Capital Integration Systems LLC (CAIS), a platform that independent wealth advisors use to access investment products and services.

Eldridge will gain a seat on CAIS' board of directors, the companies said on Wednesday. CAIS' valuation was not disclosed.

"We felt this was the right time to raise money," CAIS Founder and Chief Executive Matt Brown said in an interview.

CAIS is profitable and growing at an annual rate of between 20 percent and 30 percent, Brown said. The firm offers alternative investment products such as private equity and real estate to independent wealth managers.

Many alternative asset managers are not focused on wealth managers because of their small scale. By aggregating wealth managers and alternative investment products on one platform, CAIS seeks to make investments more efficient.

Founded in 2009, CAIS is now used by thousands of financial advisors who collectively oversee more than $1.2 trillion in assets. It partners with some of the nation's largest custodians, including Fidelity Investments, Charles Schwab Corp and Pershing.

Headquartered in Greenwich, Connecticut, Eldridge's investments include fantasy sports betting firm DraftKings Inc , video game developer Epic Games and investment manager Maranon Capital, according to its website. (Reporting by David French and Krystal Hu in New York Editing by Nick Zieminski)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DRAFTKINGS INC. -1.92% 52.53 Delayed Quote.12.82%
THE CHARLES SCHWAB CORPORATION -0.51% 58.4 Delayed Quote.10.11%
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Financials (USD)
Sales 2020 548 M - -
Net income 2020 -752 M - -
Net cash 2020 1 936 M - -
P/E ratio 2020 -25,0x
Yield 2020 -
Capitalization 20 577 M 20 577 M -
EV / Sales 2020 34,0x
EV / Sales 2021 22,2x
Nbr of Employees 869
Free-Float 41,8%
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Technical analysis trends DRAFTKINGS INC.
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 60,83 $
Last Close Price 52,53 $
Spread / Highest target 90,4%
Spread / Average Target 15,8%
Spread / Lowest Target -21,9%
EPS Revisions
Managers and Directors
NameTitle
Jason D. Robins Chairman & Chief Executive Officer
Jason K. Park Chief Financial Officer
Paul Liberman Director, President-Global Technology & Product
Travis Dunn Chief Technology Officer
Shalom Meckenzie Director
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