Dave & Buster’s Entertainment (NASDAQ:PLAY) Shares Gap Up After Insider Buying Activity

Dave & Buster’s Entertainment Inc (NASDAQ:PLAY)’s share price gapped up prior to trading on Friday after an insider bought additional shares in the company. The stock had previously closed at $25.49, but opened at $26.32. Dave & Buster’s Entertainment shares last traded at $26.90, with a volume of 476,790 shares changing hands.

Specifically, CEO Kevin M. Sheehan bought 37,735 shares of the stock in a transaction dated Thursday, December 12th. The stock was acquired at an average price of $25.48 per share, for a total transaction of $961,487.80. Following the acquisition, the chief executive officer now owns 139,011 shares in the company, valued at approximately $3,542,000.28. This represents a 37.26 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PLAY. StockNews.com cut shares of Dave & Buster’s Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. Benchmark assumed coverage on Dave & Buster’s Entertainment in a report on Monday, October 7th. They issued a “hold” rating for the company. Loop Capital dropped their price target on Dave & Buster’s Entertainment from $59.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday. Truist Financial reiterated a “hold” rating and issued a $36.00 price objective (down previously from $56.00) on shares of Dave & Buster’s Entertainment in a research note on Wednesday. Finally, William Blair restated a “market perform” rating on shares of Dave & Buster’s Entertainment in a research report on Wednesday. One 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target 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 fifty day moving average price of $36.48 and a 200-day moving average price of $36.94. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 13.73 and a beta of 2.13.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last announced its quarterly earnings data on Tuesday, September 10th. The restaurant operator reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.28. Dave & Buster’s Entertainment had a net margin of 3.88% and a return on equity of 44.22%. The company had revenue of $557.10 million for the quarter, compared to analysts’ expectations of $560.65 million. During the same period in the previous year, the company posted $0.94 EPS. Dave & Buster’s Entertainment’s revenue was up 2.8% compared to the same quarter last year. On average, analysts expect that Dave & Buster’s Entertainment Inc will post 2.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Kimelman & Baird LLC acquired a new stake in Dave & Buster’s Entertainment in the second quarter valued at about $28,000. Quarry LP purchased a new position in shares of Dave & Buster’s Entertainment during the 3rd quarter worth approximately $47,000. Point72 Hong Kong Ltd acquired a new stake in shares of Dave & Buster’s Entertainment in the 3rd quarter valued at approximately $121,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Dave & Buster’s Entertainment in the third quarter valued at approximately $144,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Dave & Buster’s Entertainment by 22,338.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,039 shares of the restaurant operator’s stock worth $161,000 after acquiring an additional 4,021 shares during the period. 91.45% of the stock is currently owned by institutional investors and hedge funds.

Dave & Buster’s Entertainment Company Profile

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.