Dave & Buster's Entertainment (NASDAQ:PLAY) Shares Up 8.2% - Time to Buy?

Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Get Free Report)'s share price was up 8.2% on Wednesday . The stock traded as high as $34.18 and last traded at $33.81. Approximately 168,966 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 1,419,677 shares. The stock had previously closed at $31.25.

Analyst Ratings Changes

Several analysts recently weighed in on PLAY shares. BMO Capital Markets boosted their price objective on Dave & Buster's Entertainment from $30.00 to $35.00 and gave the company an "outperform" rating in a report on Wednesday, June 11th. Truist Financial boosted their price objective on Dave & Buster's Entertainment from $22.00 to $29.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Piper Sandler boosted their price objective on Dave & Buster's Entertainment from $22.00 to $30.00 and gave the company a "neutral" rating in a report on Wednesday, June 11th. Loop Capital boosted their price objective on Dave & Buster's Entertainment from $35.00 to $46.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Finally, UBS Group upped their target price on Dave & Buster's Entertainment from $18.00 to $29.00 and gave the company a "neutral" rating in a report on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $33.83.

Dave & Buster's Entertainment Price Performance

The firm has a market capitalization of $1.14 billion, a P/E ratio of 32.52 and a beta of 2.08. The company has a debt-to-equity ratio of 10.69, a quick ratio of 0.17 and a current ratio of 0.26. The business has a fifty day moving average of $28.50 and a 200-day moving average of $24.08.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last released its earnings results on Tuesday, June 10th. The restaurant operator reported $0.76 earnings per share for the quarter, missing analysts' consensus estimates of $0.96 by ($0.20). The firm had revenue of $567.70 million during the quarter, compared to analyst estimates of $572.12 million. Dave & Buster's Entertainment had a return on equity of 40.67% and a net margin of 1.83%. The business's revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter last year, the company earned $0.99 earnings per share. On average, sell-side analysts forecast that Dave & Buster's Entertainment, Inc. will post 2.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Tarun Lal acquired 8,060 shares of the stock in a transaction on Tuesday, July 22nd. The shares were purchased at an average cost of $31.26 per share, for a total transaction of $251,955.60. Following the transaction, the chief executive officer owned 8,060 shares in the company, valued at approximately $251,955.60. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John Mulleady sold 5,931 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $32.79, for a total transaction of $194,477.49. Following the completion of the sale, the senior vice president directly owned 42,550 shares of the company's stock, valued at $1,395,214.50. This trade represents a 12.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dave & Buster's Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the business. Yousif Capital Management LLC bought a new position in Dave & Buster's Entertainment during the second quarter worth about $225,000. Maryland State Retirement & Pension System bought a new position in Dave & Buster's Entertainment in the 2nd quarter worth approximately $244,000. Boyar Asset Management Inc. bought a new position in Dave & Buster's Entertainment in the 2nd quarter worth approximately $205,000. Farther Finance Advisors LLC acquired a new stake in Dave & Buster's Entertainment during the 2nd quarter worth $37,000. Finally, Clearline Capital LP grew its holdings in Dave & Buster's Entertainment by 17.7% during the 1st quarter. Clearline Capital LP now owns 1,349,236 shares of the restaurant operator's stock worth $23,706,000 after acquiring an additional 203,012 shares during the period. 91.45% of the stock is 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.