Investors Purchase Large Volume of Put Options on Dave & Buster’s Entertainment (NASDAQ:PLAY)

Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) was the recipient of unusually large options trading activity on Thursday. Stock traders purchased 17,638 put options on the stock. This is an increase of approximately 687% compared to the average volume of 2,240 put options.

In related news, Director Kevin M. Sheehan sold 5,000 shares of the stock in a transaction dated Tuesday, April 6th. The shares were sold at an average price of $45.55, for a total transaction of $227,750.00. Following the sale, the director now owns 94,218 shares in the company, valued at $4,291,629.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen M. King sold 15,000 shares of the stock in a transaction that occurred on Thursday, April 8th. The stock was sold at an average price of $44.53, for a total value of $667,950.00. Following the sale, the director now owns 61,471 shares in the company, valued at $2,737,303.63. The disclosure for this sale can be found here. Insiders have sold a total of 136,911 shares of company stock worth $6,038,482 in the last ninety days. 3.57% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLAY. Vantage Consulting Group Inc bought a new stake in Dave & Buster’s Entertainment during the 4th quarter worth about $30,000. Ellevest Inc. raised its holdings in Dave & Buster’s Entertainment by 475.0% in the fourth quarter. Ellevest Inc. now owns 1,058 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 874 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Dave & Buster’s Entertainment in the 1st quarter valued at $37,000. Captrust Financial Advisors raised its position in shares of Dave & Buster’s Entertainment by 388.0% during the first quarter. Captrust Financial Advisors now owns 976 shares of the restaurant operator’s stock worth $47,000 after purchasing an additional 776 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in Dave & Buster’s Entertainment during the 1st quarter worth approximately $51,000.

Several equities research analysts recently weighed in on PLAY shares. Truist Securities upped their price objective on shares of Dave & Buster’s Entertainment from $42.00 to $46.00 in a report on Thursday, April 22nd. Loop Capital raised their target price on shares of Dave & Buster’s Entertainment from $35.00 to $50.00 and gave the stock a “hold” rating in a report on Monday, April 5th. Deutsche Bank Aktiengesellschaft boosted their target price on Dave & Buster’s Entertainment from $41.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, April 5th. William Blair upgraded shares of Dave & Buster’s Entertainment from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 20th. Finally, Raymond James raised their price objective on Dave & Buster’s Entertainment from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a research report on Monday, March 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $41.88.

Dave & Buster’s Entertainment stock opened at $44.08 on Friday. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.44 and a quick ratio of 0.35. The stock’s 50 day moving average is $43.90. Dave & Buster’s Entertainment has a one year low of $11.23 and a one year high of $51.73. The company has a market cap of $2.11 billion, a P/E ratio of -9.16, a PEG ratio of 8.73 and a beta of 2.06.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last posted its earnings results on Wednesday, June 9th. The restaurant operator reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.56. The company had revenue of $265.34 million during the quarter, compared to analysts’ expectations of $257.98 million. Dave & Buster’s Entertainment had a negative net margin of 47.42% and a negative return on equity of 102.01%. Dave & Buster’s Entertainment’s quarterly revenue was up 66.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.37) earnings per share. On average, sell-side analysts anticipate that Dave & Buster’s Entertainment will post 0.32 EPS for the current year.

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.

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