Insiders have for the most part boycotted this ~14% S&P bull run from the October lows to this January’s 4% advance MTD. There were hardly any meaningful insider buys. Yes, there were a few 10% holder purchases, but these are mostly hedge funds that have shown remarkably bad judgment. For the most part, they look like they are just averaging down.
Name: Antonio Pineiro
Position: SVP Chief Int’l Dev Ofc
Transaction Date: 2023-01-13 Shares Bought: 3,000 Average Price Paid: $42.54 Cost: $127,632
Company: Dave & Buster’s Entertainment Inc. (PLAY)
Name: Ashley Zickefoose
Position: SVP Chief Marketing Officer
Transaction Date: 2023-01-11 Shares Bought: 3,600 Average Price Paid: $41.58 Cost: $149,684
Company: Dave & Buster’s Entertainment Inc. (PLAY)
Name: Randall L Jones
Position: VP Accounting and Controller
Transaction Date: 2023-01-11 Shares Bought: 1,235 Average Price Paid: $40.81 Cost: $50,397.00
Company: Dave & Buster’s Entertainment Inc. (PLAY)
Dave & Buster’s Entertainment, Inc. is the major owner and operator of high-volume entertainment and eating facilities known as “Dave & Buster’s.” According to the firm, customers may “eat, drink, play, and watch” all in one area. The company offers the most sociable, sharing enjoyment to its consumers, as well as high-quality food and drinks and interactive entertainment alternatives for adults and families to enjoy together. The first Dave & Buster’s location debuted in 1982 in Dallas, Texas, and as of January 30, 2022, the firm owned and managed 144 stores in 40 states, Puerto Rico, and one Canadian province.
Antonio Pineiro serves as SVP Chief officer at Dave & Buster’s Entertainment Inc.
Ashley Zickefoose has been the Senior Vice President and Chief Marketing Officer since August 2022. Previously, she was Chief Marketing Officer at Main Event Entertainment from September 2021 to July 2022, Chief Marketing and Concept Officer at CEC Entertainment, Inc. from March 2018 to April 2020, and Chief Marketing Officer at On the Border LLC from September 2015 to March 2018. She formerly worked for Yum! Brands, Inc.’s Pizza Hut brand for six years in different brand and marketing capacities.
Mr. Randall L Jones is a VP of Accounting and Controller at Dave & Buster’s Entertainment Inc. Randall has Expertise in Accounting and financial management with over 15 years of progressive experience in the manufacturing, telecommunications, healthcare, and technology sectors.
Opinion: Insiders have been buying Dave and Buster’s and they have been making money. I’ve just ignored this stock because the business gives me headaches when I enter a store. The hundreds of juke box, video game machines and their cacophonic noise sets off some kind of sensory overload making my mind twitch.
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Insiders sell the stock for many reasons, but they generally buy for just one – to make money. You’ve always heard the best information is inside information. Everyone who has any experience at all in the stock market pays close attention to what insiders are doing. After all, who knows a business better than the people running it? Officers, directors, and 10% owners are required to inform the public through a Form 4 Filing any transaction, buy, sell, exercise, or any other within 48 hours of doing so. This info is available for free from the SEC’s Web site, Edgar, although we subscribe to SECForm4 as they provide a way to manage and make sense of the vast realms of data. I’ve tried a lot of vendors. SECForm4 is one of the smaller ones but I like supporting Frank. He is not arrogant. He’s helpful and has great prices. He also trades on his own data so I like people that eat what they kill.
The bar is different from selling because the natural state of management is to be seller. This is because most companies provide significant amounts of management compensation packages as stock and options. Therefore, with selling, we analyze unusual patterns, such as insiders selling 25 percent or more of their holdings or multiple insiders selling near 52-week lows. Another red flag is large planned sale programs that start without warning. Unfortunately, the public information disclosure requirements about these programs, referred to as Rule 10b5-1 is horrendously poor. Also planned sales that just pop up out of nowhere are basically sales and are seeking cover under the Sarbanes Oxley corporate welfare clause. I also generally ignore 10 percent shareholders as they tend to be OPM (other people’s money) and perhaps not the smart money we are trying to read the tea leaves on.
Of course, insiders can also be wrong about their Company’s prospects. Don’t let anyone fool you into believing they never make mistakes. Do your own analysis. They can easily be wrong, and in many cases, maybe most cases have no more idea what the future may hold than you or me. In short, you can lose money following them. We have and we curse aloud, what were they thinking!
We like Fly on the Wall for keeping up with what events might be happening, analysts’ comments, and whatever else could be moving the stock. Dow Jones news service is an essential tool but many services pick up their feed like they do Bloomberg. For quick financial analysis, it’s hard to beat Old School Value.
No one tracks and understands insider behavior better than us. We’ve been doing it religiously since 2001 when I quit being an insider myself and devoted myself full-time to managing my personal investments. Needless to say, past good fortune is no guarantee of future success. We may own positions, long or short, in any of these names and are under no obligation to disclose that. We welcome your comments on our analysis.
This blog is solely for educational purposes and the author’s own amusement. Investing with The Insiders Fund is for qualified investors and by Prospectus only. Nothing herein should be construed otherwise. THE INSIDERS FUND invests in companies at or near prices that management has been willing to invest significant amounts of their own money in. If you would like to hear more about how you can get involved with the Insiders Fund, please schedule some time on my calendar.
Prosperous Trading,
Harvey Sax
