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

Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) was the recipient of some unusual options trading activity on Monday. Stock traders acquired 6,993 put options on the stock. This is an increase of 142% compared to the typical volume of 2,884 put options.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PLAY shares. StockNews.com raised shares of Dave & Buster’s Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. BMO Capital Markets upped their price target 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. Piper Sandler reaffirmed a “neutral” rating and set a $71.00 price objective (up from $50.00) on shares of Dave & Buster’s Entertainment in a research report on Thursday, April 4th. TheStreet upgraded Dave & Buster’s Entertainment from a “c+” rating to a “b-” rating in a research note on Tuesday, January 2nd. Finally, Truist Financial raised their target price on shares of Dave & Buster’s Entertainment from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $69.21.

Insider Activity

In other news, SVP John Mulleady sold 42,824 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $66.58, for a total transaction of $2,851,221.92. Following the transaction, the senior vice president now directly owns 57,132 shares of the company’s stock, valued at approximately $3,803,848.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Dave & Buster’s Entertainment news, SVP John Mulleady sold 42,824 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $66.58, for a total value of $2,851,221.92. Following the transaction, the senior vice president now directly owns 57,132 shares of the company’s stock, valued at $3,803,848.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Griffith sold 5,203 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $65.57, for a total transaction of $341,160.71. Following the sale, 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. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PLAY. Envestnet Asset Management Inc. bought a new stake in shares of Dave & Buster’s Entertainment in the 1st quarter valued at approximately $218,000. Bank of New York Mellon Corp raised its holdings in Dave & Buster’s Entertainment by 6.5% during the 1st quarter. Bank of New York Mellon Corp now owns 396,095 shares of the restaurant operator’s stock valued at $19,448,000 after buying an additional 24,101 shares during the period. Citigroup Inc. lifted its position in Dave & Buster’s Entertainment by 7.6% in the first quarter. Citigroup Inc. now owns 33,683 shares of the restaurant operator’s stock worth $1,654,000 after buying an additional 2,367 shares during the last quarter. Bank of Montreal Can boosted its stake in Dave & Buster’s Entertainment by 4.2% during the first quarter. Bank of Montreal Can now owns 11,169 shares of the restaurant operator’s stock worth $559,000 after buying an additional 453 shares during the period. Finally, MetLife Investment Management LLC increased its position in Dave & Buster’s Entertainment by 56.4% during the first quarter. MetLife Investment Management LLC now owns 23,220 shares of the restaurant operator’s stock valued at $1,140,000 after acquiring an additional 8,378 shares during the last quarter. 91.45% of the stock is owned by hedge funds and other institutional investors.

Dave & Buster’s Entertainment Price Performance

Shares of Dave & Buster’s Entertainment stock opened at $54.43 on Tuesday. The firm has a market cap of $2.19 billion, a PE ratio of 19.37 and a beta of 2.08. The stock has a 50 day moving average of $61.42 and a 200 day moving average of $49.90. The company has a current ratio of 0.32, a quick ratio of 0.23 and a debt-to-equity ratio of 5.11. Dave & Buster’s Entertainment has a 12 month low of $31.65 and a 12 month high of $69.82.

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.