Dave & Buster's Entertainment (NASDAQ:PLAY) Trading 8.1% Higher - Here's What Happened

Shares of Dave & Buster's Entertainment Inc (NASDAQ:PLAY - Get Free Report) traded up 8.1% during mid-day trading on Tuesday . The stock traded as high as $25.72 and last traded at $26.01. 201,892 shares traded hands during trading, a decline of 89% from the average session volume of 1,909,676 shares. The stock had previously closed at $24.07.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Loop Capital dropped their target price on 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. Benchmark started coverage on shares of Dave & Buster's Entertainment in a research note on Monday, October 7th. They set a "hold" rating for the company. Truist Financial decreased their target price on shares of Dave & Buster's Entertainment from $36.00 to $27.00 and set a "hold" rating on the stock in a research report on Thursday, January 16th. Gordon Haskett reaffirmed a "hold" rating and set a $34.00 price target (down previously from $40.00) on shares of Dave & Buster's Entertainment in a research report on Wednesday, December 11th. Finally, BMO Capital Markets decreased their price target on shares of Dave & Buster's Entertainment from $51.00 to $47.00 and set an "outperform" rating on the stock in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $52.25.

Dave & Buster's Entertainment Price Performance

The business's fifty day simple moving average is $31.85 and its 200 day simple moving average is $33.66. The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.19 and a current ratio of 0.29. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 13.12 and a beta of 2.17.

Insider Activity at Dave & Buster's Entertainment

In related news, CEO Kevin M. Sheehan purchased 37,735 shares of Dave & Buster's Entertainment stock in a transaction dated Thursday, December 12th. The shares were acquired at an average price of $25.48 per share, with a total value of $961,487.80. Following the completion of the transaction, the chief executive officer now owns 139,011 shares of the company's stock, valued at approximately $3,542,000.28. This trade represents a 37.26 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dave & Buster's Entertainment

Institutional investors have recently made changes to their positions in the company. Eminence Capital LP lifted its position in 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 valued at $150,023,000 after purchasing an additional 1,542,154 shares during the last quarter. SG Americas Securities LLC lifted its stake in Dave & Buster's Entertainment by 1,100.8% during the fourth quarter. SG Americas Securities LLC now owns 424,967 shares of the restaurant operator's stock valued at $12,405,000 after purchasing an additional 389,577 shares during the last quarter. Sea Cliff Partners Management LP boosted its holdings in Dave & Buster's Entertainment by 90.8% during the second quarter. Sea Cliff Partners Management LP now owns 515,043 shares of the restaurant operator's stock worth $20,504,000 after buying an additional 245,043 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Dave & Buster's Entertainment by 36.2% during the 2nd quarter. Marshall Wace LLP now owns 640,096 shares of the restaurant operator's stock worth $25,482,000 after acquiring an additional 170,286 shares in the last quarter. Finally, LMR Partners LLP purchased a new position in Dave & Buster's Entertainment in the 3rd quarter worth about $3,167,000. 91.45% of the stock is currently owned by 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.