Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) Sees Large Decrease in Short Interest

Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totalling 6,007,200 shares, a decline of 7.5% from the June 30th total of 6,494,500 shares. Approximately 15.7% of the shares of the company are short sold. Based on an average daily volume of 1,370,000 shares, the days-to-cover ratio is currently 4.4 days.

Dave & Buster’s Entertainment stock traded up $0.73 during midday trading on Friday, hitting $39.36. The company’s stock had a trading volume of 688,838 shares, compared to its average volume of 1,091,432. The company has a quick ratio of 0.17, a current ratio of 0.28 and a debt-to-equity ratio of 4.17. The stock’s 50-day moving average price is $40.00 and its 200-day moving average price is $47.68. Dave & Buster’s Entertainment has a 12 month low of $37.21 and a 12 month high of $67.05. The company has a market capitalization of $1.42 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 0.89 and a beta of 0.88.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last issued its quarterly earnings results on Tuesday, June 11th. The restaurant operator reported $1.13 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.01). Dave & Buster’s Entertainment had a return on equity of 29.12% and a net margin of 9.06%. The business had revenue of $363.58 million during the quarter, compared to the consensus estimate of $371.72 million. During the same quarter last year, the firm posted $1.04 earnings per share. Dave & Buster’s Entertainment’s revenue was up 9.5% compared to the same quarter last year. As a group, equities analysts anticipate that Dave & Buster’s Entertainment will post 2.96 EPS for the current year.



In related news, Director Michael J. Griffith acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were acquired at an average cost of $39.32 per share, for a total transaction of $196,600.00. Following the completion of the purchase, the director now directly owns 16,327 shares in the company, valued at $641,977.64. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP John Mulleady sold 7,500 shares of Dave & Buster’s Entertainment stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $39.94, for a total transaction of $299,550.00. Following the sale, the senior vice president now owns 21,319 shares in the company, valued at $851,480.86. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. raised its position in Dave & Buster’s Entertainment by 33.0% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 165,120 shares of the restaurant operator’s stock worth $6,682,000 after acquiring an additional 41,006 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in Dave & Buster’s Entertainment during the 2nd quarter worth about $291,000. Schroder Investment Management Group acquired a new stake in Dave & Buster’s Entertainment during the 2nd quarter worth about $9,830,000. Hillcrest Asset Management LLC raised its holdings in Dave & Buster’s Entertainment by 0.6% during the 2nd quarter. Hillcrest Asset Management LLC now owns 203,009 shares of the restaurant operator’s stock worth $8,216,000 after buying an additional 1,230 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings in Dave & Buster’s Entertainment by 382.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 155,162 shares of the restaurant operator’s stock worth $6,280,000 after buying an additional 122,986 shares during the period.

PLAY has been the topic of a number of recent analyst reports. Maxim Group cut their price objective on shares of Dave & Buster’s Entertainment from $67.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, June 12th. BidaskClub upgraded shares of Dave & Buster’s Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. BMO Capital Markets cut their price objective on shares of Dave & Buster’s Entertainment to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 12th. Raymond James lifted their price objective on shares of Dave & Buster’s Entertainment from $50.00 to $60.00 and gave the company a “positive” rating in a research note on Wednesday, June 12th. They noted that the move was a valuation call. Finally, ValuEngine cut shares of Dave & Buster’s Entertainment from a “hold” rating to a “sell” rating in a research note on Wednesday, June 12th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $54.14.

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 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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