Amova Asset Management Americas Inc. Has $112.72 Million Stock Holdings in DraftKings Inc. $DKNG

Amova Asset Management Americas Inc. decreased its position in DraftKings Inc. (NASDAQ:DKNG) by 28.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,014,819 shares of the company’s stock after selling 1,206,937 shares during the period. DraftKings makes up 1.1% of Amova Asset Management Americas Inc.’s portfolio, making the stock its 25th largest position. Amova Asset Management Americas Inc. owned approximately 0.61% of DraftKings worth $112,724,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in DKNG. IHT Wealth Management LLC grew its stake in DraftKings by 4.1% in the second quarter. IHT Wealth Management LLC now owns 6,271 shares of the company’s stock valued at $269,000 after acquiring an additional 248 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of DraftKings by 7.3% during the 3rd quarter. Geneos Wealth Management Inc. now owns 4,793 shares of the company’s stock valued at $179,000 after purchasing an additional 328 shares in the last quarter. Valeo Financial Advisors LLC grew its position in shares of DraftKings by 3.6% in the 2nd quarter. Valeo Financial Advisors LLC now owns 10,009 shares of the company’s stock valued at $429,000 after purchasing an additional 348 shares during the period. Huntleigh Advisors Inc. grew its position in shares of DraftKings by 0.8% in the 3rd quarter. Huntleigh Advisors Inc. now owns 43,630 shares of the company’s stock valued at $1,632,000 after purchasing an additional 363 shares during the period. Finally, TD Private Client Wealth LLC increased its stake in DraftKings by 45.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,165 shares of the company’s stock worth $44,000 after purchasing an additional 365 shares in the last quarter. Institutional investors own 37.70% of the company’s stock.

DraftKings Stock Up 4.0%

DKNG stock opened at $25.43 on Thursday. The company has a market cap of $12.54 billion, a price-to-earnings ratio of -635.75, a P/E/G ratio of 1.01 and a beta of 1.67. DraftKings Inc. has a twelve month low of $21.01 and a twelve month high of $48.78. The business has a 50 day moving average price of $29.19 and a two-hundred day moving average price of $34.28. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.91.

DraftKings News Summary

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: DraftKings rolled out a “DraftKings Sports & Casino” Super App to unify sportsbook, predictions, casino and lottery into one account/wallet — a product change investors view as improving cross‑sell, engagement and lifetime value. Read More.
• Positive Sentiment: Several analysts raised or reaffirmed bullish ratings after the Super App/predictions announcement — notably BMO boosting its target to $50 (outperform) and Citizens JMP keeping a market‑outperform view — which supports upside expectations and likely helped buying interest. Read More.
• Positive Sentiment: WSJ reports DraftKings plans to leverage its sports‑betting tech and product playbook to scale into prediction markets and challenge incumbents — this signals management has a concrete go‑to‑market plan for a new, higher‑growth revenue stream. Read More.
• Neutral Sentiment: Investor Day materials (prepared remarks/slides) were published — useful for updating models on product rollout, revenue mix and margins but not a direct near‑term catalyst by itself. Read More.
• Neutral Sentiment: CEO publicly stated ethical limits (won’t offer bets on geopolitical death/war) — reputationally positive but unlikely to materially affect short‑term revenue. Read More.
• Neutral Sentiment: Short‑interest figures in some feeds appear inconsistent/zeroed out and are likely a reporting artifact — treat current short‑interest snapshots with caution. (Feed item)
• Negative Sentiment: Chief Accounting Officer Erik Bradbury sold 2,883 shares (Form 4), a small insider sale (~$70.8k). It’s modest in size but some investors interpret insider selling as a minor negative signal. Read More.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DKNG. Barclays reaffirmed an “overweight” rating on shares of DraftKings in a research note on Tuesday. Zacks Research lowered shares of DraftKings from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. Stifel Nicolaus reduced their target price on shares of DraftKings from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. The Goldman Sachs Group dropped their price target on DraftKings from $54.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Finally, Texas Capital raised DraftKings to a “hold” rating in a research report on Thursday, January 8th. Twenty-five analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.12.

Insider Activity at DraftKings

In other news, insider R Stanton Dodge sold 52,777 shares of DraftKings stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $32.01, for a total value of $1,689,391.77. Following the completion of the transaction, the insider owned 500,000 shares of the company’s stock, valued at $16,005,000. This trade represents a 9.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Harry Sloan acquired 100,000 shares of the stock in a transaction dated Tuesday, February 17th. The shares were purchased at an average price of $21.85 per share, for a total transaction of $2,185,000.00. Following the completion of the purchase, the director directly owned 350,219 shares in the company, valued at $7,652,285.15. The trade was a 39.96% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders sold 62,928 shares of company stock valued at $1,923,728. 51.19% of the stock is owned by corporate insiders.

DraftKings Company Profile

DraftKings Inc is a leading digital sports entertainment and gaming company specializing in daily fantasy sports, sports betting and iGaming products. The company provides an integrated platform where users can participate in daily fantasy contests, place wagers on professional sports events, and enjoy a range of online casino-style games. DraftKings’ proprietary technology supports real-time odds, live scoring and advanced analytics to enhance the user experience across mobile and desktop applications.

Founded in 2012 by co-founders Jason Robins, Matthew Kalish and Paul Liberman, DraftKings began as a daily fantasy sports provider and rapidly expanded into regulated sports betting following legislative changes in the United States.