Traders Purchase High Volume of Put Options on Dave & Buster's Entertainment (NASDAQ:PLAY)

Dave & Buster's Entertainment Inc (NASDAQ:PLAY - Get Free Report) saw unusually large options trading on Monday. Stock investors purchased 6,993 put options on the company. This represents an increase of approximately 142% compared to the average volume of 2,884 put options.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PLAY. TheStreet upgraded Dave & Buster's Entertainment from a "c+" rating to a "b-" rating in a report on Tuesday, January 2nd. Piper Sandler reaffirmed a "neutral" rating and set a $71.00 target price (up from $50.00) on shares of Dave & Buster's Entertainment in a research note on Thursday, April 4th. Raymond James reissued a "market perform" rating on shares of Dave & Buster's Entertainment in a research note on Monday, March 25th. StockNews.com raised Dave & Buster's Entertainment from a "sell" rating to a "hold" rating in a research note on Wednesday, April 10th. Finally, BMO Capital Markets raised their price objective on Dave & Buster's Entertainment from $60.00 to $75.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 3rd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $69.21.

Dave & Buster's Entertainment Stock Down 3.0 %

Shares of PLAY traded down $1.66 during mid-day trading on Monday, hitting $54.43. 2,616,585 shares of the company's stock were exchanged, compared to its average volume of 1,157,076. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 19.37 and a beta of 2.08. Dave & Buster's Entertainment has a fifty-two week low of $31.65 and a fifty-two week high of $69.82. The company has a debt-to-equity ratio of 5.11, a quick ratio of 0.23 and a current ratio of 0.32. The stock's 50-day moving average is $61.40 and its 200-day moving average is $49.77.

Insiders Place Their Bets

In other news, SVP John Mulleady sold 7,500 shares of the business's stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $48.25, for a total value of $361,875.00. Following the completion of the sale, the senior vice president now directly owns 57,132 shares in the company, valued at $2,756,619. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Dave & Buster's Entertainment news, SVP John Mulleady sold 7,500 shares of the business's stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $48.25, for a total transaction of $361,875.00. Following the completion of the sale, the senior vice president now directly owns 57,132 shares in the company, valued at approximately $2,756,619. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael J. Griffith sold 5,203 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $65.57, for a total value of $341,160.71. Following the transaction, the director now directly owns 33,546 shares of the company's stock, valued at approximately $2,199,611.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,527 shares of company stock worth $3,554,258. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Dave & Buster's Entertainment

Large investors have recently modified their holdings of the stock. Eminence Capital LP increased its stake in Dave & Buster's Entertainment by 331.4% in the third quarter. Eminence Capital LP now owns 3,635,435 shares of the restaurant operator's stock valued at $134,766,000 after purchasing an additional 2,792,780 shares during the last quarter. Wolf Hill Capital Management LP purchased a new position in shares of Dave & Buster's Entertainment during the fourth quarter worth about $72,730,000. Morgan Stanley increased its position in Dave & Buster's Entertainment by 141.0% in the 4th quarter. Morgan Stanley now owns 1,464,963 shares of the restaurant operator's stock valued at $51,918,000 after acquiring an additional 857,208 shares during the period. Millennium Management LLC acquired a new position in Dave & Buster's Entertainment in the 4th quarter valued at about $26,536,000. Finally, BlackRock Inc. increased its holdings in shares of Dave & Buster's Entertainment by 7.2% in the first quarter. BlackRock Inc. now owns 7,207,019 shares of the restaurant operator's stock valued at $265,146,000 after purchasing an additional 484,439 shares during the period. Hedge funds and other 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.