Dave & Buster’s Entertainment (NASDAQ:PLAY) Trading 6.6% Higher – Here’s What Happened

Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) shares rose 6.6% during mid-day trading on Monday . The stock traded as high as $18.50 and last traded at $18.54. Approximately 536,453 shares traded hands during trading, a decline of 63% from the average daily volume of 1,461,573 shares. The stock had previously closed at $17.40.

Analysts Set New Price Targets

PLAY has been the topic of several research reports. William Blair reaffirmed a “market perform” rating on shares of Dave & Buster’s Entertainment in a research note on Wednesday, December 11th. Loop Capital cut their target price 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, December 12th. Truist Financial cut their target price on Dave & Buster’s Entertainment from $36.00 to $27.00 and set a “hold” rating on the stock in a research note on Thursday, January 16th. Gordon Haskett reaffirmed a “hold” rating and set a $34.00 price target (down previously from $40.00) on shares of Dave & Buster’s Entertainment in a research report on Wednesday, December 11th. Finally, BMO Capital Markets dropped their price target on Dave & Buster’s Entertainment from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Dave & Buster’s Entertainment presently has a consensus rating of “Hold” and an average target price of $46.67.

Dave & Buster’s Entertainment Stock Performance

The stock has a 50-day moving average of $24.49 and a 200-day moving average of $30.56. The firm has a market cap of $726.55 million, a price-to-earnings ratio of 9.34 and a beta of 2.17. The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.19 and a current ratio of 0.29.

Insider Activity at Dave & Buster’s Entertainment

In related news, CEO Kevin M. Sheehan purchased 19,025 shares of the stock in a transaction on Thursday, December 19th. The shares were purchased at an average price of $26.44 per share, with a total value of $503,021.00. Following the transaction, the chief executive officer now directly owns 69,025 shares of the company’s stock, valued at $1,825,021. This trade represents a 38.05 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Eminence Capital LP increased its position in shares of Dave & Buster’s Entertainment by 3.6% during the 4th quarter. Eminence Capital LP now owns 3,845,454 shares of the restaurant operator’s stock worth $112,249,000 after purchasing an additional 135,095 shares during the last quarter. Patient Capital Management LLC increased its holdings in shares of Dave & Buster’s Entertainment by 36.6% during the 4th quarter. Patient Capital Management LLC now owns 1,777,260 shares of the restaurant operator’s stock worth $51,878,000 after acquiring an additional 476,662 shares during the last quarter. Clearline Capital LP increased its holdings in shares of Dave & Buster’s Entertainment by 1,768.8% during the 4th quarter. Clearline Capital LP now owns 1,146,224 shares of the restaurant operator’s stock worth $33,458,000 after acquiring an additional 1,084,890 shares during the last quarter. NewEdge Wealth LLC increased its holdings in shares of Dave & Buster’s Entertainment by 13.4% during the 4th quarter. NewEdge Wealth LLC now owns 727,491 shares of the restaurant operator’s stock worth $21,235,000 after acquiring an additional 85,820 shares during the last quarter. Finally, Boston Partners increased its holdings in shares of Dave & Buster’s Entertainment by 132.5% during the 4th quarter. Boston Partners now owns 567,734 shares of the restaurant operator’s stock worth $16,563,000 after acquiring an additional 323,595 shares during the last quarter. 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.