Dave & Buster’s Entertainment (NASDAQ:PLAY) Trading Up 8.1% – Time to Buy?

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on PLAY shares. Gordon Haskett reaffirmed a “hold” rating and set a $34.00 target price (down previously from $40.00) on shares of Dave & Buster’s Entertainment in a report on Wednesday, December 11th. Benchmark started coverage on shares of Dave & Buster’s Entertainment in a report on Monday, October 7th. They set a “hold” rating for the company. William Blair reaffirmed a “market perform” rating on shares of Dave & Buster’s Entertainment in a report on Wednesday, December 11th. Loop Capital cut their price objective on shares of Dave & Buster’s Entertainment from $59.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, 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 report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $52.25.

Dave & Buster’s Entertainment Stock Up 7.9 %

The firm’s 50-day moving average price is $31.29 and its 200 day moving average price is $33.53. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 14.28 and a beta of 2.17. The company has a current ratio of 0.29, a quick ratio of 0.19 and a debt-to-equity ratio of 6.38.

Insider Activity

In related news, CEO Kevin M. Sheehan acquired 37,735 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of $25.48 per share, for a total transaction of $961,487.80. Following the transaction, the chief executive officer now directly owns 139,011 shares in the company, valued at $3,542,000.28. This trade represents a 37.26 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Dave & Buster’s Entertainment

Institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd increased its position in 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 3rd quarter. Charles Schwab Investment Management Inc. now owns 462,191 shares of the restaurant operator’s stock worth $15,738,000 after purchasing an additional 15,015 shares in the last quarter. Eminence Capital LP increased its position in Dave & Buster’s Entertainment by 69.3% during the 2nd quarter. Eminence Capital LP now owns 3,768,476 shares of the restaurant operator’s stock worth $150,023,000 after purchasing an additional 1,542,154 shares in the last quarter. LMR Partners LLP acquired a new position in Dave & Buster’s Entertainment during the 3rd quarter worth approximately $3,167,000. Finally, Millennium Management LLC increased its position in Dave & Buster’s Entertainment by 55.2% during the 2nd quarter. Millennium Management LLC now owns 219,015 shares of the restaurant operator’s stock worth $8,719,000 after purchasing an additional 77,916 shares in the last quarter. 91.45% of the stock is currently owned by institutional investors and hedge funds.

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.