Dave & Buster’s Entertainment (NASDAQ:PLAY) Shares Up 6.5% – Here’s What Happened

Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) shares rose 6.5% on Friday . The stock traded as high as $35.72 and last traded at $35.71. Approximately 247,904 shares traded hands during trading, a decline of 80% from the average daily volume of 1,251,740 shares. The stock had previously closed at $33.54.

Analysts Set New Price Targets

PLAY has been the subject of several recent research reports. UBS Group decreased their price objective on Dave & Buster’s Entertainment from $66.00 to $56.00 and set a “neutral” rating for the company in a research note on Wednesday, June 12th. StockNews.com lowered shares of Dave & Buster’s Entertainment from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. William Blair reissued an “outperform” rating on shares of Dave & Buster’s Entertainment in a report on Thursday, June 13th. Truist Financial decreased their target price on shares of Dave & Buster’s Entertainment from $64.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Finally, BMO Capital Markets cut their price target on Dave & Buster’s Entertainment from $65.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $62.57.

Dave & Buster’s Entertainment Trading Up 7.8 %

The firm has a market cap of $1.42 billion, a P/E ratio of 15.14 and a beta of 2.14. The company’s 50 day moving average is $32.49 and its two-hundred day moving average is $43.97. The company has a debt-to-equity ratio of 4.54, a current ratio of 0.24 and a quick ratio of 0.14.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last released its quarterly earnings results on Tuesday, September 10th. The restaurant operator reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.28. The business had revenue of $557.10 million during the quarter, compared to analysts’ expectations of $560.65 million. Dave & Buster’s Entertainment had a return on equity of 51.75% and a net margin of 5.10%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.94 earnings per share. On average, sell-side analysts predict that Dave & Buster’s Entertainment Inc will post 2.7 earnings per share for the current year.

Hedge Funds Weigh In On Dave & Buster’s Entertainment

Several hedge funds have recently made changes to their positions in PLAY. Central Pacific Bank Trust Division lifted its stake in Dave & Buster’s Entertainment by 80.1% in the 3rd quarter. Central Pacific Bank Trust Division now owns 9,246 shares of the restaurant operator’s stock valued at $315,000 after purchasing an additional 4,111 shares during the last quarter. Kimelman & Baird LLC acquired a new position in Dave & Buster’s Entertainment in the second quarter valued at about $28,000. Sea Cliff Partners Management LP lifted its holdings in shares of Dave & Buster’s Entertainment by 90.8% during the 2nd quarter. Sea Cliff Partners Management LP now owns 515,043 shares of the restaurant operator’s stock worth $20,504,000 after acquiring an additional 245,043 shares during the period. Mackenzie Financial Corp bought a new position in shares of Dave & Buster’s Entertainment in the 2nd quarter valued at $207,000. Finally, Millennium Management LLC raised its stake in 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 worth $8,719,000 after acquiring an additional 77,916 shares in the last quarter. 91.45% of the stock is owned by institutional investors.

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.