Dave & Buster’s Entertainment (NASDAQ:PLAY) Shares Up 3.6% – Here’s What Happened

Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) shares traded up 3.6% during mid-day trading on Tuesday . The company traded as high as $35.79 and last traded at $35.19. 83,993 shares were traded during trading, a decline of 93% from the average session volume of 1,251,776 shares. The stock had previously closed at $33.96.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PLAY shares. Benchmark initiated coverage on shares of Dave & Buster’s Entertainment in a research note on Monday, October 7th. They issued a “hold” rating for the company. StockNews.com downgraded Dave & Buster’s Entertainment from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. Truist Financial cut their price target on Dave & Buster’s Entertainment from $64.00 to $59.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. BMO Capital Markets lowered their price objective 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. Finally, Loop Capital cut their target price on Dave & Buster’s Entertainment from $63.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $62.57.

Dave & Buster’s Entertainment Stock Up 4.2 %

The company has a debt-to-equity ratio of 4.54, a quick ratio of 0.14 and a current ratio of 0.24. The firm has a market capitalization of $1.46 billion, a P/E ratio of 15.66 and a beta of 2.15. The stock has a fifty day moving average price of $32.30 and a two-hundred day moving average price of $42.09.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last released its earnings results on Tuesday, September 10th. The restaurant operator reported $1.12 earnings per share for the quarter, beating 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 firm had revenue of $557.10 million during the quarter, compared to analyst estimates of $560.65 million. During the same quarter in the previous year, the firm earned $0.94 earnings per share. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Research analysts forecast that Dave & Buster’s Entertainment Inc will post 2.7 EPS for the current year.

Insider Buying and Selling

In related news, CEO Christopher Daniel Morris bought 14,912 shares of the stock in a transaction dated Monday, October 7th. The stock was bought at an average cost of $33.67 per share, with a total value of $502,087.04. Following the completion of the acquisition, the chief executive officer now owns 83,847 shares of the company’s stock, valued at $2,823,128.49. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dave & Buster’s Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the company. Eminence Capital LP increased its holdings in shares of Dave & Buster’s Entertainment by 69.3% in the 2nd 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 period. American Century Companies Inc. grew its position in Dave & Buster’s Entertainment by 8.2% in the 2nd quarter. American Century Companies Inc. now owns 1,266,280 shares of the restaurant operator’s stock worth $50,411,000 after purchasing an additional 95,499 shares during the last quarter. Rubric Capital Management LP increased its stake in shares of Dave & Buster’s Entertainment by 104.7% in the second quarter. Rubric Capital Management LP now owns 1,225,000 shares of the restaurant operator’s stock valued at $48,767,000 after purchasing an additional 626,497 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Dave & Buster’s Entertainment by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,144,268 shares of the restaurant operator’s stock valued at $45,553,000 after buying an additional 25,138 shares during the last quarter. Finally, Coronation Fund Managers Ltd. raised its holdings in shares of Dave & Buster’s Entertainment by 2.9% during the second quarter. Coronation Fund Managers Ltd. now owns 1,035,106 shares of the restaurant operator’s stock valued at $41,208,000 after buying an additional 29,627 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.