DraftKings appointed Gregory W. Wendt as an independent director, enhancing board expertise in investment management and gaming.
Quiver AI Summary
DraftKings Inc. has appointed Gregory W. Wendt as an independent director on its Board of Directors, effective October 24, 2025. His addition follows a recommendation from the Board’s Nominating and Corporate Governance Committee, and he will also be a member of that committee. Jason Robins, DraftKings’ CEO, highlighted Wendt's extensive experience in investment management and the gaming sector as an asset for the company’s growth and innovation in sports entertainment. Wendt recently retired from Capital Group Companies after a 37-year career, specializing in investment analysis and portfolio management in the global casino and leisure industries. He expressed enthusiasm for joining DraftKings at a pivotal time in its development. DraftKings, headquartered in Boston, offers a wide range of sports-related gaming and media products and is involved in regulated operations across multiple states and Canada.
Potential Positives
- Appointment of Gregory W. Wendt as an independent director brings deep expertise in investment management and the gaming sector, enhancing the board's strategic capabilities.
- Mr. Wendt's background as a Partner at Capital Group and his extensive experience in investment analysis and portfolio management could contribute to better decision-making and governance at DraftKings.
- His insights are expected to support DraftKings' efforts to scale the business and strengthen its position as a leader in sports entertainment and technology, aligning with the company's growth objectives.
- The addition of Mr. Wendt to the board during a critical time for the company indicates proactive governance and an investment in leadership that can drive innovation and sustainable growth.
Potential Negatives
- Mr. Wendt's appointment as an independent director may raise questions regarding the company's governance practices if it appears they are struggling to attract diverse talent or excessive reliance on recommendations from existing board members.
- The mention of forward-looking statements highlights potential risks and uncertainties, which may indicate challenges the company is facing that could affect investor confidence.
- Despite boasting growth and innovation, the need for new board members could suggest that the company is experiencing significant changes, potentially signaling instability or strategic struggles within the leadership structure.
FAQ
Who is Gregory W. Wendt?
Gregory W. Wendt is the newly appointed independent director on DraftKings' Board of Directors, effective October 24, 2025.
What expertise does Wendt bring to DraftKings?
Wendt brings deep expertise in investment management and a strong understanding of the gaming sector, enhancing DraftKings' strategic initiatives.
What position will Wendt hold on the Board?
Gregory Wendt will serve as a member of the Nominating and Corporate Governance Committee in addition to being an independent director.
What is DraftKings’ mission?
DraftKings aims to create the world’s favorite real-money games and betting experiences while enhancing fan engagement through innovation.
How many states does DraftKings operate in?
DraftKings operates in 28 states and Washington, D.C., along with iGaming in five states and Ontario, Canada.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$DKNG Insider Trading Activity
$DKNG insiders have traded $DKNG stock on the open market 23 times in the past 6 months. Of those trades, 0 have been purchases and 23 have been sales.
Here’s a breakdown of recent trading of $DKNG stock by insiders over the last 6 months:
- MATTHEW KALISH (See Remarks) has made 0 purchases and 5 sales selling 840,000 shares for an estimated $33,867,648.
- R STANTON DODGE (Chief Legal Officer) has made 0 purchases and 11 sales selling 633,324 shares for an estimated $25,866,525.
- RYAN R MOORE has made 0 purchases and 2 sales selling 76,390 shares for an estimated $3,507,498.
- ALAN WAYNE ELLINGSON (Chief Financial Officer) has made 0 purchases and 3 sales selling 57,247 shares for an estimated $2,507,027.
- JOCELYN MOORE has made 0 purchases and 2 sales selling 7,997 shares for an estimated $320,681.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$DKNG Hedge Fund Activity
We have seen 414 institutional investors add shares of $DKNG stock to their portfolio, and 390 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- WELLINGTON MANAGEMENT GROUP LLP added 4,326,588 shares (+22.7%) to their portfolio in Q2 2025, for an estimated $185,567,359
- BROWN ADVISORY INC added 4,048,680 shares (+53272.1%) to their portfolio in Q2 2025, for an estimated $173,647,885
- BLACKROCK, INC. removed 3,679,199 shares (-12.4%) from their portfolio in Q2 2025, for an estimated $157,800,845
- POINT72 ASSET MANAGEMENT, L.P. removed 3,247,937 shares (-99.7%) from their portfolio in Q2 2025, for an estimated $139,304,017
- MARSHALL WACE, LLP removed 2,640,717 shares (-90.5%) from their portfolio in Q2 2025, for an estimated $113,260,352
- AGF MANAGEMENT LTD removed 2,517,982 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $107,996,247
- AQR CAPITAL MANAGEMENT LLC added 2,451,421 shares (+52.2%) to their portfolio in Q2 2025, for an estimated $105,141,446
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$DKNG Analyst Ratings
Wall Street analysts have issued reports on $DKNG in the last several months. We have seen 19 firms issue buy ratings on the stock, and 1 firms issue sell ratings.
Here are some recent analyst ratings:
- Stifel issued a "Buy" rating on 10/27/2025
- Truist Securities issued a "Buy" rating on 10/21/2025
- Susquehanna issued a "Positive" rating on 10/14/2025
- Berenberg issued a "Buy" rating on 10/09/2025
- Mizuho issued a "Outperform" rating on 10/07/2025
- Jefferies issued a "Buy" rating on 10/06/2025
- BTIG issued a "Buy" rating on 10/02/2025
To track analyst ratings and price targets for $DKNG, check out Quiver Quantitative's $DKNG forecast page.
$DKNG Price Targets
Multiple analysts have issued price targets for $DKNG recently. We have seen 20 analysts offer price targets for $DKNG in the last 6 months, with a median target of $52.0.
Here are some recent targets:
- Jeffrey Stantial from Stifel set a target price of $50.0 on 10/27/2025
- Barry Jonas from Truist Securities set a target price of $50.0 on 10/21/2025
- Joseph Stauff from Susquehanna set a target price of $59.0 on 10/14/2025
- Jack Cummins from Berenberg set a target price of $43.0 on 10/09/2025
- Ben Chaiken from Mizuho set a target price of $54.0 on 10/07/2025
- David Katz from Jefferies set a target price of $52.0 on 10/06/2025
- Mike Hickey from Benchmark set a target price of $43.0 on 10/02/2025
Full Release
BOSTON, Oct. 28, 2025 (GLOBE NEWSWIRE) -- DraftKings Inc. (Nasdaq: DKNG) today announced the appointment of Gregory W. Wendt to its Board of Directors as an independent director, effective October 24, 2025. Mr. Wendt’s appointment follows the recommendation of the Board’s Nominating and Corporate Governance Committee, and he will also serve as a member of that committee.
“Greg brings deep expertise in investment management and a strong understanding of the gaming sector,” said Jason Robins, DraftKings’ Chief Executive Officer and Co-Founder. “His insights will be invaluable as we continue to scale our business, enhance the customer experience and strengthen DraftKings’ position as a leader in sports entertainment and technology.”
Mr. Wendt recently retired as a Partner of Capital Group Companies, one of the world’s largest investment management firms and parent company of the American Funds family of mutual funds. During a 37-year career with the firm, he served as an investment analyst and portfolio manager, with research responsibilities spanning the global casino sector and other leisure industries.
“I’m honored to join the DraftKings Board at such an exciting time for the company,” said Mr. Wendt. “DraftKings continues to redefine fan engagement and the gaming landscape through innovation that drives sustainable growth, and I look forward to supporting its future success.”
Mr. Wendt serves as a Trustee of the University of Chicago, where he earned his A.B. in Economics, and holds an M.B.A. from Harvard University.
About DraftKings
DraftKings Inc. is a digital sports entertainment and gaming company created to be the Ultimate Host and fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. The company is headquartered in Boston and was launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman. DraftKings’ mission is to make life more exciting by responsibly creating the world’s favorite real-money games and betting experiences. DraftKings Sportsbook is live with mobile and/or retail sports betting operations pursuant to regulations in 28 states, Washington, D.C. and in Ontario, Canada. The Company operates iGaming pursuant to regulations in five states and in Ontario, Canada under its DraftKings brand and pursuant to regulations in four states and in Ontario, Canada, under its Golden Nugget Online Gaming brand. DraftKings also owns Jackpocket, the leading digital lottery courier app in the United States. DraftKings’ daily fantasy sports product is available in 44 states, the District of Columbia and certain Canadian provinces. DraftKings is both an official sports betting and daily fantasy partner of the NFL, NHL, PGA TOUR, WNBA and UFC, as well as an official daily fantasy partner of NASCAR, an official sports betting partner of the NBA and an authorized gaming operator of MLB. In addition, DraftKings owns and operates DraftKings Network a multi-platform content ecosystem. DraftKings is committed to being a responsible steward of this new era in real-money gaming by developing and promoting educational information and tools to help all players enjoy our games responsibly.
Contact
[email protected]
@DraftKingsNews
Forward-Looking Statements
Certain statements made in this press release are “forward looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” ”would,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside DraftKings’ control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see DraftKings’ filings with the Securities and Exchange Commission. DraftKings does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
