Dave & Buster’s Entertainment, Inc. (PLAY) Stock Price Down 5.1% on Insider Selling

Shares of Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) traded down 5.1% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $48.25 and last traded at $48.67. 2,711,326 shares changed hands during trading, an increase of 223% from the average session volume of 838,173 shares. The stock had previously closed at $51.27.

Specifically, SVP J Michael Plunkett sold 3,000 shares of Dave & Buster’s Entertainment stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $51.20, for a total transaction of $153,600.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brian Jenkins sold 500 shares of Dave & Buster’s Entertainment stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $52.25, for a total value of $26,125.00. Following the sale, the chief financial officer now directly owns 5,042 shares in the company, valued at approximately $263,444.50. The disclosure for this sale can be found here. Insiders have sold a total of 68,000 shares of company stock worth $3,565,675 in the last three months. 3.84% of the stock is owned by insiders.

Several analysts have recently weighed in on the company. Canaccord Genuity lifted their price objective on Dave & Buster’s Entertainment from $70.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, June 9th. Jefferies Group LLC raised their target price on Dave & Buster’s Entertainment from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, June 9th. BidaskClub upgraded Dave & Buster’s Entertainment from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 9th. SunTrust Banks, Inc. set a $85.00 target price on Dave & Buster’s Entertainment and gave the stock a “buy” rating in a research report on Wednesday, June 7th. Finally, Piper Jaffray Companies raised their target price on Dave & Buster’s Entertainment from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 7th. One investment analyst has rated the stock with a sell rating and eleven have issued a buy rating to the stock. Dave & Buster’s Entertainment presently has a consensus rating of “Buy” and an average price target of $74.11.

The company has a 50-day moving average of $55.18 and a 200-day moving average of $62.16. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 18.95 and a beta of 0.59.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last issued its quarterly earnings results on Tuesday, September 5th. The restaurant operator reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.04. The business had revenue of $280.80 million for the quarter, compared to the consensus estimate of $281.69 million. Dave & Buster’s Entertainment had a return on equity of 24.58% and a net margin of 10.27%. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.50 earnings per share. Analysts forecast that Dave & Buster’s Entertainment, Inc. will post $2.69 earnings per share for the current fiscal year.

Dave & Buster’s Entertainment announced that its Board of Directors has initiated a share buyback program on Tuesday, June 6th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its position in Dave & Buster’s Entertainment by 335.9% during the first quarter. Tower Research Capital LLC TRC now owns 1,905 shares of the restaurant operator’s stock worth $116,000 after buying an additional 1,468 shares in the last quarter. Strs Ohio boosted its holdings in shares of Dave & Buster’s Entertainment by 76.9% in the 1st quarter. Strs Ohio now owns 2,300 shares of the restaurant operator’s stock valued at $140,000 after purchasing an additional 1,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Dave & Buster’s Entertainment by 147.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,157 shares of the restaurant operator’s stock valued at $143,000 after purchasing an additional 1,286 shares in the last quarter. Point72 Asia Hong Kong Ltd boosted its holdings in shares of Dave & Buster’s Entertainment by 14,258.8% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 2,441 shares of the restaurant operator’s stock valued at $149,000 after purchasing an additional 2,424 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Dave & Buster’s Entertainment in the 2nd quarter valued at $153,000.

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About Dave & Buster’s Entertainment

Dave & Buster’s Entertainment, Inc owns and operates entertainment and dining venues for adults and families in North America. Its venues offer a menu of ‘Fun American New Gourmet’ entrées 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.

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