Venture Visionary Partners LLC Has $751,000 Holdings in DraftKings Inc. $DKNG

Venture Visionary Partners LLC lessened its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 70.7% in the third quarter, Holdings Channel.com reports. The firm owned 20,093 shares of the company’s stock after selling 48,405 shares during the period. Venture Visionary Partners LLC’s holdings in DraftKings were worth $751,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of DKNG. TD Private Client Wealth LLC grew its holdings in shares of DraftKings by 54.4% during the second quarter. TD Private Client Wealth LLC now owns 800 shares of the company’s stock worth $34,000 after buying an additional 282 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of DraftKings during the 2nd quarter worth approximately $45,000. Delos Wealth Advisors LLC acquired a new stake in shares of DraftKings in the second quarter valued at approximately $47,000. Ameritas Advisory Services LLC bought a new stake in shares of DraftKings in the second quarter worth $48,000. Finally, 1 North Wealth Services LLC bought a new stake in shares of DraftKings in the first quarter worth $49,000. 37.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DKNG shares. Citigroup started coverage on shares of DraftKings in a research note on Friday, November 21st. They issued a “buy” rating and a $48.00 price target on the stock. Zacks Research cut DraftKings from a “hold” rating to a “strong sell” rating in a report on Thursday, November 6th. Guggenheim dropped their target price on DraftKings from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, November 10th. Northland Securities raised DraftKings from an “under perform” rating to a “market perform” rating in a research report on Monday, November 10th. Finally, Oppenheimer lowered their price target on DraftKings from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 1st. Twenty-five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $47.48.

DraftKings Trading Down 1.4%

DraftKings stock opened at $34.05 on Thursday. The stock has a 50-day simple moving average of $32.38 and a 200 day simple moving average of $38.89. The stock has a market capitalization of $16.95 billion, a P/E ratio of -59.74, a PEG ratio of 2.86 and a beta of 1.60. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.09 and a current ratio of 1.10. DraftKings Inc. has a 52 week low of $26.23 and a 52 week high of $53.61.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings data on Friday, November 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). DraftKings had a negative net margin of 4.90% and a negative return on equity of 22.84%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the business earned ($0.60) earnings per share. The business’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts expect that DraftKings Inc. will post 0.64 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Gregory Westin Wendt bought 10,000 shares of DraftKings stock in a transaction that occurred on Tuesday, November 11th. The stock was acquired at an average price of $30.27 per share, with a total value of $302,700.00. Following the acquisition, the director owned 10,000 shares of the company’s stock, valued at approximately $302,700. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harry Sloan purchased 25,000 shares of the stock in a transaction on Tuesday, November 11th. The stock was bought at an average cost of $30.30 per share, for a total transaction of $757,500.00. Following the completion of the acquisition, the director owned 249,712 shares in the company, valued at approximately $7,566,273.60. This trade represents a 11.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders sold 166,752 shares of company stock worth $5,387,153. Company insiders own 51.19% of the company’s stock.

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.