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

Dave & Buster’s Entertainment Inc (NASDAQ:PLAY)’s share price gapped up prior to trading on Thursday after an insider bought additional shares in the company. The stock had previously closed at $31.95, but opened at $32.95. Dave & Buster’s Entertainment shares last traded at $32.16, with a volume of 273,135 shares changing hands.

Specifically, CEO Christopher Daniel Morris acquired 14,912 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was bought at an average price of $33.67 per share, for a total transaction of $502,087.04. Following the completion of the purchase, the chief executive officer now directly owns 83,847 shares of the company’s stock, valued at approximately $2,823,128.49. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Analysts Set New Price Targets

A number of brokerages have recently commented on PLAY. Truist Financial cut 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 report on Thursday, August 22nd. BMO Capital Markets reduced their target price on shares of Dave & Buster’s Entertainment from $65.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, September 11th. Loop Capital lowered their price target on Dave & Buster’s Entertainment from $63.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Benchmark initiated coverage on Dave & Buster’s Entertainment in a research report on Monday. They issued a “hold” rating on the stock. Finally, StockNews.com cut Dave & Buster’s Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $62.57.

Dave & Buster’s Entertainment Stock Performance

The stock has a 50 day moving average of $32.17 and a two-hundred day moving average of $43.03. The stock has a market capitalization of $1.28 billion, a PE ratio of 13.60 and a beta of 2.15. 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 issued its earnings results on Tuesday, September 10th. The restaurant operator reported $1.12 EPS for the quarter, topping the consensus estimate of $0.84 by $0.28. Dave & Buster’s Entertainment had a net margin of 5.10% and a return on equity of 51.75%. The company had revenue of $557.10 million for the quarter, compared to analyst estimates of $560.65 million. During the same period in the previous year, the firm earned $0.94 EPS. The business’s revenue was up 2.8% on a year-over-year basis. Research analysts expect that Dave & Buster’s Entertainment Inc will post 2.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PLAY. Kimelman & Baird LLC acquired a new position in shares of Dave & Buster’s Entertainment during the 2nd quarter worth $28,000. Headlands Technologies LLC raised its position in Dave & Buster’s Entertainment by 23.4% during the first quarter. Headlands Technologies LLC now owns 1,227 shares of the restaurant operator’s stock worth $77,000 after acquiring an additional 233 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of Dave & Buster’s Entertainment in the first quarter valued at about $249,000. Allspring Global Investments Holdings LLC grew its position in shares of Dave & Buster’s Entertainment by 22,338.9% in the second 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 last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Dave & Buster’s Entertainment during the 1st quarter worth approximately $331,000. 91.45% of the stock is owned by hedge funds and other institutional investors.

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.