Dave & Buster’s Entertainment (NASDAQ:PLAY) Stock Price Up 7.2% – Time to Buy?

Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) shares shot up 7.2% on Monday . The stock traded as high as $29.76 and last traded at $29.45. 650,517 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 1,335,766 shares. The stock had previously closed at $27.48.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. StockNews.com downgraded shares of Dave & Buster’s Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. Loop Capital cut their target price on shares of Dave & Buster’s Entertainment from $59.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Gordon Haskett reissued a “hold” rating and issued a $34.00 target price (down from $40.00) on shares of Dave & Buster’s Entertainment in a report on Wednesday, December 11th. Truist Financial reaffirmed a “hold” rating and set a $36.00 price target (down from $56.00) on shares of Dave & Buster’s Entertainment in a report on Wednesday, December 11th. Finally, BMO Capital Markets cut their price objective on Dave & Buster’s Entertainment from $51.00 to $47.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Dave & Buster’s Entertainment has a consensus rating of “Hold” and an average price target of $53.38.

Dave & Buster’s Entertainment Price Performance

The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 14.39 and a beta of 2.13. The company has a current ratio of 0.29, a quick ratio of 0.14 and a debt-to-equity ratio of 6.38. The company has a 50 day moving average price of $36.17 and a 200 day moving average price of $36.32.

Insider Activity at Dave & Buster’s Entertainment

In related news, CEO Kevin M. Sheehan purchased 37,735 shares of the stock in a transaction dated Thursday, December 12th. The stock was bought at an average cost of $25.48 per share, with a total value of $961,487.80. Following the purchase, the chief executive officer now directly owns 139,011 shares in the company, valued at $3,542,000.28. The trade was a 37.26 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Christopher Daniel Morris acquired 14,912 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were purchased at an average price of $33.67 per share, with a total value of $502,087.04. Following the acquisition, the chief executive officer now owns 83,847 shares of the company’s stock, valued at approximately $2,823,128.49. This trade represents a 21.63 % increase in their position. The disclosure for this purchase can be found here. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dave & Buster’s Entertainment

Several large investors have recently made changes to their positions in PLAY. Kimelman & Baird LLC bought a new stake in Dave & Buster’s Entertainment in the 2nd quarter valued at $28,000. Quarry LP acquired a new stake in shares of Dave & Buster’s Entertainment in the 3rd quarter valued at about $47,000. Point72 Hong Kong Ltd bought a new stake in shares of Dave & Buster’s Entertainment in the third quarter valued at about $121,000. Allspring Global Investments Holdings LLC lifted its holdings 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 in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Dave & Buster’s Entertainment during the third quarter worth about $144,000. Institutional investors 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.