12 Stocks with Heavy Insider Buying in 2025

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5. Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY)

Number of Hedge Fund Holders: 30

Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) operates a chain of entertainment venues combining dining, arcade games, and entertainment experiences. Each location features a full-service restaurant and bar, along with an extensive arcade called the “Million Dollar Midway,” offering a variety of games and interactive experiences. The company operates over 200 venues across North America under the Dave & Buster’s and Main Event brands, with plans for further expansion. PLAY focuses on providing a family-friendly entertainment destination, catering to both casual dining and fun, interactive gaming for all ages.

Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) announced the resignation of CEO Chris Morris, with Kevin Sheehan assuming the role of Chairman of the Board and Interim CEO. Despite leadership changes, the company remains committed to executing the strategic plan unveiled at their Investor Day in June 2023. The recent Q3 2025 financial results showed comparable store sales decreased by 7.7% on a like-for-like calendar basis, with revenue of $453 million, net loss of $33 million, and adjusted EBITDA of $68 million. The company expects fiscal 2024 adjusted EBITDA to be within a range of $505 million and $515 million. PLAY continues to make progress on several strategic initiatives, including opening 3 new stores with strong cash-on-cash returns, completing 11 new fully programmed remodels, and seeing strong year-over-year growth in special events business.

Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) successfully refinanced a portion of its debt, raising a new $700 million term loan, redeeming $440 million of senior notes, paying down $200 million of existing term loan principal, and upsizing their revolving credit facility by $150 million to $650 million. The company’s marketing strategy is undergoing optimization with a new agency partner, focusing on improving media mix, digital marketing analytics, and customer targeting. The loyalty database has grown to over 7 million members, with loyalty members visiting 2.5x more often and spending more during their visits. PLAY experienced heavy insider buying in the last six months, with two insiders buying at least $500,000 worth of company stock.

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