Veery Capital LLC Has $1.38 Million Stock Position in DraftKings Inc. (NASDAQ:DKNG)

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

Other institutional investors and hedge funds also recently bought and sold shares of the company. Udine Wealth Management Inc. boosted its stake in shares of DraftKings by 3.3% during the 4th quarter. Udine Wealth Management Inc. now owns 54,282 shares of the company’s stock valued at $2,019,000 after buying an additional 1,734 shares during the period. Stonekeep Investments LLC raised its holdings in shares of DraftKings by 15.9% during the fourth quarter. Stonekeep Investments LLC now owns 6,863 shares of the company’s stock worth $255,000 after acquiring an additional 944 shares in the last quarter. Arthur M. Cohen & Associates LLC boosted its position in DraftKings by 3.8% during the fourth quarter. Arthur M. Cohen & Associates LLC now owns 9,670 shares of the company’s stock valued at $360,000 after purchasing an additional 355 shares during the last quarter. Empirical Asset Management LLC purchased a new position in DraftKings in the fourth quarter valued at about $429,000. Finally, Cohen Investment Advisors LLC increased its position in DraftKings by 1.5% in the 4th quarter. Cohen Investment Advisors LLC now owns 71,949 shares of the company’s stock worth $2,677,000 after purchasing an additional 1,079 shares during the last quarter. Hedge funds and other institutional investors own 37.70% of the company’s stock.

Insider Buying and Selling at DraftKings

In other news, insider Jason Robins sold 3,151 shares of DraftKings stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $43.71, for a total transaction of $137,730.21. Following the sale, the insider now directly owns 2,631,033 shares in the company, valued at approximately $115,002,452.43. The trade was a 0.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Liberman sold 88,441 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $36.41, for a total transaction of $3,220,136.81. Following the completion of the transaction, the insider now directly owns 1,923,483 shares of the company’s stock, valued at $70,034,016.03. This trade represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,052,183 shares of company stock valued at $41,303,025 in the last 90 days. 48.94% of the stock is currently owned by company insiders.

DraftKings Stock Down 1.0 %

NASDAQ DKNG opened at $39.29 on Friday. DraftKings Inc. has a twelve month low of $28.69 and a twelve month high of $49.57. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $34.60 billion, a PE ratio of -44.65, a PEG ratio of 2.99 and a beta of 1.90. The firm has a 50-day simple moving average of $40.65 and a 200 day simple moving average of $37.97.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Benchmark reissued a “buy” rating and issued a $44.00 price target on shares of DraftKings in a research note on Tuesday, January 7th. Morgan Stanley increased their price target on shares of DraftKings from $47.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Susquehanna reduced their price objective on shares of DraftKings from $56.00 to $54.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Mizuho increased their target price on shares of DraftKings from $54.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, TD Cowen boosted their price target on DraftKings from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.08.

About DraftKings

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.