Dave & Buster’s Entertainment (NASDAQ:PLAY) Trading Up 3.7% – Here’s Why

Shares of Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) shot up 3.7% on Tuesday . The company traded as high as $29.56 and last traded at $29.50. 152,163 shares changed hands during trading, a decline of 89% from the average session volume of 1,351,830 shares. The stock had previously closed at $28.45.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PLAY shares. Gordon Haskett reaffirmed a “hold” rating and issued a $34.00 price target (down previously from $40.00) on shares of Dave & Buster’s Entertainment in a report on Wednesday, December 11th. BMO Capital Markets reduced their target price on Dave & Buster’s Entertainment from $51.00 to $47.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. Truist Financial reissued a “hold” rating and issued a $36.00 price target (down previously from $56.00) on shares of Dave & Buster’s Entertainment in a report on Wednesday, December 11th. Benchmark began coverage on shares of Dave & Buster’s Entertainment in a research note on Monday, October 7th. They issued a “hold” rating for the company. Finally, Loop Capital decreased their target price on shares of Dave & Buster’s Entertainment from $59.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $53.38.

Dave & Buster’s Entertainment Stock Performance

The company has a quick ratio of 0.14, a current ratio of 0.29 and a debt-to-equity ratio of 6.38. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 14.45 and a beta of 2.13. The stock’s 50-day simple moving average is $34.79 and its 200 day simple moving average is $34.84.

Insider Transactions at Dave & Buster’s Entertainment

In related news, CEO Christopher Daniel Morris bought 14,912 shares of the company’s stock in a transaction on Monday, October 7th. The stock was bought at an average cost of $33.67 per share, with a total value of $502,087.04. Following the completion of the purchase, the chief executive officer now owns 83,847 shares in the company, valued at approximately $2,823,128.49. The trade was a 21.63 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Kevin M. Sheehan purchased 37,735 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were bought at an average cost of $25.48 per share, for a total transaction of $961,487.80. Following the completion of the purchase, the chief executive officer now directly owns 139,011 shares of the company’s stock, valued at $3,542,000.28. The trade was a 37.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 71,672 shares of company stock valued at $1,966,596 in the last three months. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Kimelman & Baird LLC bought a new position in shares of Dave & Buster’s Entertainment in the 2nd quarter valued at about $28,000. Quarry LP bought a new position in Dave & Buster’s Entertainment in the third quarter valued at approximately $47,000. Point72 Hong Kong Ltd acquired a new stake in Dave & Buster’s Entertainment during the 3rd quarter worth $121,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Dave & Buster’s Entertainment during the 3rd quarter valued at $144,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Dave & Buster’s Entertainment by 22,338.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,039 shares of the restaurant operator’s stock valued at $161,000 after purchasing an additional 4,021 shares during the period. Institutional investors and hedge funds own 91.45% of the company’s stock.

About Dave & Buster’s Entertainment

Dave & Buster's Entertainment, Inc owns and operates entertainment and dining venues for adults and families. Its venues offer a menu of entrees and appetizers, as well as a selection of non-alcoholic and alcoholic beverages; and an assortment of entertainment attractions centered on playing games and watching live sports, and other televised events.