Dave & Buster’s Entertainment (NASDAQ:PLAY) Trading Up 8.1% – Here’s What Happened

Dave & Buster’s Entertainment Inc (NASDAQ:PLAY)’s stock price shot up 8.1% on Tuesday . The company traded as high as $25.72 and last traded at $26.01. 201,892 shares were traded during trading, a decline of 89% from the average session volume of 1,909,676 shares. The stock had previously closed at $24.07.

Analysts Set New Price Targets

Several research analysts recently weighed in on PLAY shares. Benchmark started coverage on shares of Dave & Buster’s Entertainment in a research report on Monday, October 7th. They set a “hold” rating for the company. BMO Capital Markets cut their price objective on shares of 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. Gordon Haskett restated a “hold” rating and issued a $34.00 target price (down previously from $40.00) on shares of Dave & Buster’s Entertainment in a research report on Wednesday, December 11th. William Blair reaffirmed a “market perform” rating on shares of Dave & Buster’s Entertainment in a research note on Wednesday, December 11th. Finally, Truist Financial cut their price objective on Dave & Buster’s Entertainment from $36.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Dave & Buster’s Entertainment currently has an average rating of “Hold” and an average target price of $52.25.

Dave & Buster’s Entertainment Price Performance

The company has a quick ratio of 0.19, a current ratio of 0.29 and a debt-to-equity ratio of 6.38. The stock has a fifty day moving average of $31.85 and a two-hundred day moving average of $33.66. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 13.08 and a beta of 2.17.

Insider Buying and Selling

In other news, CEO Kevin M. Sheehan purchased 37,735 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was acquired at an average price of $25.48 per share, with a total value of $961,487.80. Following the purchase, the chief executive officer now directly owns 139,011 shares of the company’s stock, valued at $3,542,000.28. This represents a 37.26 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Dave & Buster’s Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd increased its stake in shares of Dave & Buster’s Entertainment by 171.5% during the 3rd quarter. XTX Topco Ltd now owns 53,803 shares of the restaurant operator’s stock worth $1,832,000 after purchasing an additional 33,988 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Dave & Buster’s Entertainment by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 462,191 shares of the restaurant operator’s stock worth $15,738,000 after buying an additional 15,015 shares in the last quarter. Eminence Capital LP raised its holdings in shares of Dave & Buster’s Entertainment by 69.3% in the second quarter. Eminence Capital LP now owns 3,768,476 shares of the restaurant operator’s stock worth $150,023,000 after acquiring an additional 1,542,154 shares during the last quarter. LMR Partners LLP purchased a new stake in shares of Dave & Buster’s Entertainment in the third quarter valued at $3,167,000. Finally, Millennium Management LLC boosted its stake in shares of Dave & Buster’s Entertainment by 55.2% during the second quarter. Millennium Management LLC now owns 219,015 shares of the restaurant operator’s stock valued at $8,719,000 after acquiring an additional 77,916 shares during the last quarter. Institutional investors and hedge funds own 91.45% of the company’s stock.

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.