NVDA, DKNG or KEX: Which Stock Do Hedge Funds Favor?

Shares of Nvidia (NASDAQ:NVDA), DraftKings (NASDAQ:DKNG), and Kirby Corporation (NYSE:KEX) were added to the Bank of America’s U.S. 1 List. The U.S. 1 list includes top investment ideas selected from a broad range of stocks that have a “Buy” rating from analysts at Bank of America Securities. However, TipRanks’ Hedge Fund Trading Activity tool, which examines data from Form 13-Fs to provide hedge fund signals, indicates a preference only for Kirby, with hedge funds divesting their holdings in NVDA and DKNG.

Hedge Funds Favor Kirby Stock

Kirby is a tank barge operator that transports bulk liquid products. The Hedge Fund Confidence Signal is Positive for KEX stock based on the activity of eight hedge funds. Hedge funds increased their KEX holdings by 87.3K shares in the last quarter.

Hedge Funds Turned their Backs on NVDA and DKNG

While hedge funds added KEX stock, they turned their backs on Nvidia and DraftKings. For instance, the Hedge Fund Confidence Signal is Very Negative for NVDA stock based on the activity of 91 hedge funds. Hedge funds decreased their NVDA holdings by 4.8M shares in the last quarter.

Like NVDA, the Hedge Fund Confidence Signal is Very Negative for DKNG stock based on the activity of 26 hedge funds. Hedge funds decreased their DKNG holdings by 2.2M shares in the last quarter.

Which Stock is Good to Buy Now?

TipRanks’ Stock Comparison tool shows analysts are bullish on NVDA, DKNG, and KEX stocks, represented by a Strong Buy consensus rating. However, hedge funds favor Kirby stock and have reduced their holdings in NVDA and DKNG.

It’s worth noting that Nvidia stock is up about 135% year-to-date. Meanwhile, KEX stock is up about 51% during the same period. DKNG stock underperformed both NVDA and KEX and is up about 0.8%.

Overall, KEX stock has a Smart Score of nine, implying it is more likely to outperform the broader market averages.

Disclosure