Veery Capital LLC Acquires 5,406 Shares of DraftKings Inc. (NASDAQ:DKNG)

Veery Capital LLC boosted its stake in shares of DraftKings Inc. (NASDAQ:DKNG) by 17.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,065 shares of the company’s stock after acquiring an additional 5,406 shares during the quarter. DraftKings makes up approximately 0.5% of Veery Capital LLC’s holdings, making the stock its 25th biggest holding. Veery Capital LLC’s holdings in DraftKings were worth $1,379,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pine Valley Investments Ltd Liability Co grew its stake in shares of DraftKings by 3.7% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 6,924 shares of the company’s stock valued at $271,000 after purchasing an additional 249 shares during the last quarter. Claro Advisors LLC raised its position in DraftKings by 1.5% in the 4th quarter. Claro Advisors LLC now owns 18,093 shares of the company’s stock worth $673,000 after purchasing an additional 264 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in DraftKings by 0.6% during the 3rd quarter. Global Retirement Partners LLC now owns 47,067 shares of the company’s stock worth $1,845,000 after buying an additional 273 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its position in DraftKings by 36.8% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock valued at $47,000 after buying an additional 320 shares during the last quarter. Finally, Arthur M. Cohen & Associates LLC increased its stake in shares of DraftKings by 3.8% in the 4th quarter. Arthur M. Cohen & Associates LLC now owns 9,670 shares of the company’s stock valued at $360,000 after buying an additional 355 shares during the period. Institutional investors and hedge funds own 37.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on DKNG shares. Mizuho lifted their price objective on DraftKings from $54.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Macquarie lifted their price target on shares of DraftKings from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Needham & Company LLC restated a “buy” rating and issued a $60.00 price objective on shares of DraftKings in a report on Friday, November 8th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of DraftKings in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upped their target price on shares of DraftKings from $47.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $51.08.

Insider Buying and Selling

In other news, insider R Stanton Dodge sold 228,496 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $42.74, for a total value of $9,765,919.04. Following the completion of the transaction, the insider now owns 541,884 shares in the company, valued at $23,160,122.16. This trade represents a 29.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason Robins sold 3,151 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $43.71, for a total value of $137,730.21. Following the sale, the insider now owns 2,631,033 shares in the company, valued at $115,002,452.43. The trade was a 0.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,052,183 shares of company stock worth $41,303,025. 48.94% of the stock is owned by corporate insiders.

DraftKings Stock Down 1.0 %

Shares of DKNG stock opened at $39.29 on Friday. DraftKings Inc. has a 12-month low of $28.69 and a 12-month high of $49.57. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17. The firm has a fifty day moving average of $40.65 and a 200-day moving average of $37.97. The company has a market capitalization of $34.60 billion, a price-to-earnings ratio of -44.65, a P/E/G ratio of 2.99 and a beta of 1.90.

DraftKings (NASDAQ:DKNG) last released its earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.18). DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. As a group, equities research analysts predict that DraftKings Inc. will post -0.83 earnings per share for the current fiscal year.

DraftKings Company Profile

DraftKings Inc operates as a digital sports entertainment and gaming company in the United States and internationally. It provides online sports betting and casino, daily fantasy sports, media, and other consumer products, as well as retails sportsbooks. The company also engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators.