CHRISTOPHER DANIEL MORRIS, the Chief Executive Officer of Dave and Busters ($PLAY), bought 14,912 shares of the company on 10-07-2024. We received data on the trade from a recent SEC filing. This increased their holdings by approximately 21.6%. Following this trade, they now own 83,847 shares of Dave and Busters stock.
Dave and Busters Insider Trading Activity
Dave and Busters insiders have traded $PLAY stock on the open market 5 times in the past 6 months. Of those trades, 3 have been purchases and 2 have been sales.
Here’s a breakdown of recent trading of $PLAY stock by insiders over the last 6 months:
- CHRISTOPHER DANIEL MORRIS (Chief Executive Officer) purchased 14,912 shares.
- STEVE KLOHN (SVP Chief Information Officer) has traded it 2 times. They made 0 purchases and 2 sales, selling 17,512 shares.
- DARIN HARPER (Chief Financial Officer) has traded it 2 times. They made 2 purchases, buying 13,578 shares and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
Dave and Busters Hedge Fund Activity
We have seen 111 institutional investors add shares of Dave and Busters stock to their portfolio, and 131 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- EMINENCE CAPITAL, LP added 1,542,154 shares (+69.3%) to their portfolio in Q2 2024
- AMERIPRISE FINANCIAL INC removed 824,465 shares (-86.7%) from their portfolio in Q2 2024
- CORONATION FUND MANAGERS LTD. removed 766,173 shares (-74.0%) from their portfolio in Q3 2024
- WOLF HILL CAPITAL MANAGEMENT, LP removed 655,640 shares (-29.4%) from their portfolio in Q2 2024
- RUBRIC CAPITAL MANAGEMENT LP added 626,497 shares (+104.7%) to their portfolio in Q2 2024
- EVR RESEARCH LP removed 600,000 shares (-100.0%) from their portfolio in Q2 2024
- NATIONAL BANK OF CANADA /FI/ removed 500,000 shares (-100.0%) from their portfolio in Q2 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Should I Buy $PLAY Stock?
The bull case for Dave & Buster's Entertainment Inc. ($PLAY) centers on the company's strong operational efficiency and projected improvements in store-level margins, which are expected to reach 30.2% in fiscal 2024 and 30.3% in fiscal 2025. The reported 8.1% growth in adjusted EBITDA to $151.6 million, alongside a notable expansion in adjusted EBITDA margins to 27.2%, demonstrates resilience amidst rising operational costs. Positive contributions from menu enhancements and successful store remodels are anticipated to drive adjusted EBITDA growth towards $564 million by 2025, bolstered by strong early results from remodeled locations. Conversely, the bear case highlights the recent contraction in adjusted EBITDA margins, which fell to 27.1% from 30.5% the previous year, coupled with a 12.6% decrease in adjusted EBITDA for the last quarter. Furthermore, total revenue for the first quarter of fiscal 2024 saw a 1.5% decline year-over-year, and macroeconomic factors led to a 6.3% drop in comparable store sales. Projections for 2024 indicate a mild revenue contraction of approximately 1.3%, and the company’s enterprise value reflects a revenue multiple of 1.2x, trailing the average in its sector, indicating potential valuation concerns.
Background on $PLAY Stock
Dave & Buster's Entertainment, Inc. (traded under the ticker symbol $PLAY) operates a chain of entertainment dining restaurants that combine a casual dining experience with a variety of interactive arcade games and entertainment options. Each location features a full-service restaurant, a sports bar, and an extensive arcade that includes video games,^generously priced attractions, and virtual reality experiences, appealing to both families and adults. The company targets a diverse clientele, offering a vibrant social atmosphere suitable for celebrations, corporate events, and casual outings. Dave & Buster's emphasizes value through entertainment packages and promotions, enhancing the guest experience with special events like game nights and seasonal activities.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information.
