Benchmark Initiates Coverage on Dave & Buster’s Entertainment (NASDAQ:PLAY)

by · The Markets Daily

Benchmark began coverage on shares of Dave & Buster’s Entertainment (NASDAQ:PLAY – Free Report) in a research report sent to investors on Monday morning, Marketbeat.com reports. The firm issued a hold rating on the restaurant operator’s stock.

PLAY has been the subject of several other research reports. Truist Financial dropped their price target on shares of Dave & Buster’s Entertainment from $64.00 to $59.00 and set a buy rating for the company in a research note on Thursday, August 22nd. UBS Group dropped their price target on shares of Dave & Buster’s Entertainment from $66.00 to $56.00 and set a neutral rating for the company in a research report on Wednesday, June 12th. BMO Capital Markets decreased their price objective on shares of Dave & Buster’s Entertainment from $65.00 to $55.00 and set an outperform rating on the stock in a report on Wednesday, September 11th. StockNews.com downgraded shares of Dave & Buster’s Entertainment from a hold rating to a sell rating in a report on Wednesday, September 11th. Finally, William Blair restated an outperform rating on shares of Dave & Buster’s Entertainment in a research note on Thursday, June 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $62.57.

Read Our Latest Analysis on PLAY

Dave & Buster’s Entertainment Trading Up 0.9 %

PLAY stock opened at $32.23 on Monday. The company has a current ratio of 0.24, a quick ratio of 0.14 and a debt-to-equity ratio of 4.54. The business’s 50-day moving average is $32.17 and its 200 day moving average is $43.03. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 13.60 and a beta of 2.15. Dave & Buster’s Entertainment has a 12-month low of $29.31 and a 12-month high of $69.82.

Dave & Buster’s Entertainment (NASDAQ:PLAY – Get Free Report) last announced its quarterly earnings data on Tuesday, September 10th. The restaurant operator reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.28. Dave & Buster’s Entertainment had a net margin of 5.10% and a return on equity of 51.75%. The company had revenue of $557.10 million during the quarter, compared to analysts’ expectations of $560.65 million. During the same quarter in the prior year, the company earned $0.94 EPS. Dave & Buster’s Entertainment’s revenue was up 2.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Dave & Buster’s Entertainment will post 2.7 EPS for the current fiscal year.

Insider Activity at Dave & Buster’s Entertainment

In related news, CEO Christopher Daniel Morris purchased 14,912 shares of the business’s stock in a transaction on Monday, October 7th. The shares were bought at an average price of $33.67 per share, for a total transaction of $502,087.04. Following the acquisition, the chief executive officer now directly owns 83,847 shares in the company, valued at $2,823,128.49. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dave & Buster’s Entertainment

Large investors have recently modified their holdings of the company. Eminence Capital LP grew its stake in shares of Dave & Buster’s Entertainment by 69.3% during the second quarter. Eminence Capital LP now owns 3,768,476 shares of the restaurant operator’s stock worth $150,023,000 after purchasing an additional 1,542,154 shares in the last quarter. Wolf Hill Capital Management LP acquired a new position in shares of Dave & Buster’s Entertainment during the 4th quarter worth about $72,730,000. Coronation Fund Managers Ltd. increased its holdings in shares of Dave & Buster’s Entertainment by 273.6% in the 1st quarter. Coronation Fund Managers Ltd. now owns 1,005,479 shares of the restaurant operator’s stock valued at $62,943,000 after acquiring an additional 736,345 shares during the last quarter. Rubric Capital Management LP raised its position in shares of Dave & Buster’s Entertainment by 104.7% during the 2nd quarter. Rubric Capital Management LP now owns 1,225,000 shares of the restaurant operator’s stock worth $48,767,000 after acquiring an additional 626,497 shares in the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of Dave & Buster’s Entertainment during the 1st quarter worth about $31,300,000. 91.45% of the stock is owned by hedge funds and other institutional investors.

About Dave & Buster’s Entertainment

(Get Free Report)

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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