Dave & Buster's Entertainment (NASDAQ:PLAY) CFO Acquires 4,000 Shares of Company Stock

Key Points

• CFO Cory Hatton purchased 4,000 shares of Dave & Buster’s stock at $6.50 per share, investing $26,000 and increasing his direct holdings by 3.98% to 104,475 shares.
• PLAY shares traded near their one-year low at $6.41, while the company reported a quarterly loss of $0.27 per share and revenue of $544.1 million, both weaker than analyst expectations.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $17.33; institutional investors own approximately 91.45% of the stock.

Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Get Free Report) CFO Cory Hatton bought 4,000 shares of the firm's stock in a transaction dated Monday, September 28th. The shares were acquired at an average price of $6.50 per share, with a total value of $26,000.00. Following the purchase, the chief financial officer directly owned 104,475 shares of the company's stock, valued at approximately $679,087.50. This trade represents a 3.98% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Dave & Buster's Entertainment Stock Performance

PLAY stock traded down $0.21 during trading on Monday, hitting $6.41. The company had a trading volume of 2,277,143 shares, compared to its average volume of 1,757,462. The firm has a market cap of $223.26 million, a PE ratio of -2.49 and a beta of 1.82. Dave & Buster's Entertainment, Inc. has a 1-year low of $6.38 and a 1-year high of $22.10. The firm has a 50-day moving average price of $9.24 and a 200-day moving average price of $10.89. The company has a quick ratio of 0.21, a current ratio of 0.30 and a debt-to-equity ratio of 17.07.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last posted its quarterly earnings data on Monday, September 14th. The restaurant operator reported ($0.27) earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.46). Dave & Buster's Entertainment had a negative return on equity of 51.87% and a negative net margin of 4.26%.The company had revenue of $544.10 million for the quarter, compared to analyst estimates of $556.83 million. During the same period in the previous year, the business posted $0.32 earnings per share. The firm's revenue was down 2.4% compared to the same quarter last year. On average, analysts expect that Dave & Buster's Entertainment, Inc. will post -1.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PLAY. Zacks Research upgraded Dave & Buster's Entertainment from a "strong sell" rating to a "hold" rating in a research report on Friday, August 28th. Weiss Ratings restated a "sell (d)" rating on shares of Dave & Buster's Entertainment in a research report on Friday, July 17th. Citizens Jmp began coverage on shares of Dave & Buster's Entertainment in a report on Monday, June 29th. They set a "market perform" rating for the company. BMO Capital Markets decreased their target price on shares of Dave & Buster's Entertainment from $22.00 to $13.00 and set an "outperform" rating on the stock in a research report on Tuesday, September 15th. Finally, UBS Group decreased their price objective on shares of Dave & Buster's Entertainment from $12.00 to $9.00 and set a "neutral" rating for the company in a research note on Tuesday, September 15th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $17.33.

Hedge Funds Weigh In On Dave & Buster's Entertainment

Several large investors have recently added to or reduced their stakes in PLAY. BlackRock Inc. acquired a new position in shares of Dave & Buster's Entertainment in the 2nd quarter valued at about $36,725,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Dave & Buster's Entertainment by 40.1% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,515,000 shares of the restaurant operator's stock valued at $24,558,000 after purchasing an additional 434,000 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Dave & Buster's Entertainment by 44.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,509,752 shares of the restaurant operator's stock worth $16,351,000 after buying an additional 468,174 shares in the last quarter. Wolf Hill Capital Management LP acquired a new stake in shares of Dave & Buster's Entertainment in the 2nd quarter worth approximately $15,468,694. Finally, SG Americas Securities LLC grew its holdings in Dave & Buster's Entertainment by 4.6% during the first quarter. SG Americas Securities LLC now owns 663,199 shares of the restaurant operator's stock worth $7,182,000 after acquiring an additional 29,051 shares during the period. 91.45% of the stock is currently owned by institutional investors.

Dave & Buster's Entertainment Company Profile

Dave & Buster's Entertainment, Inc NASDAQ: PLAY is an entertainment and dining company that operates venues combining arcade games, sports viewing, food and beverages, and social experiences. Its Dave & Buster's locations are designed for adults and families and offer interactive games, prize redemption, casual dining, full-service bars, and space for group events and parties.

The company also operates Main Event, a family entertainment brand offering bowling, arcade games, laser tag, virtual reality attractions, and food and beverages.

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