Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY)’s share price dropped 5.1% on Wednesday after an insider sold shares in the company. The company traded as low as $48.25 and last traded at $48.67. Approximately 2,711,326 shares were traded during mid-day trading, an increase of 223% from the average daily volume of 838,173 shares. The stock had previously closed at $51.27.

Specifically, CEO Stephen M. King sold 45,000 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $49.80, for a total value of $2,241,000.00. Following the completion of the sale, the chief executive officer now directly owns 22,501 shares in the company, valued at $1,120,549.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Margo Lynn Manning sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $66.46, for a total transaction of $664,600.00. Following the completion of the sale, the chief operating officer now owns 15,447 shares of the company’s stock, valued at $1,026,607.62. The disclosure for this sale can be found here. Insiders sold 68,000 shares of company stock valued at $3,565,675 over the last 90 days. Corporate insiders own 3.84% of the company’s stock.

PLAY has been the subject of a number of research reports. Piper Jaffray Companies raised their price target on shares of Dave & Buster’s Entertainment from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, June 7th. Zacks Investment Research upgraded shares of Dave & Buster’s Entertainment from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a report on Tuesday, August 22nd. BMO Capital Markets restated a “buy” rating and issued a $77.00 price target (up from $64.00) on shares of Dave & Buster’s Entertainment in a report on Wednesday, June 7th. Canaccord Genuity reduced their price target on shares of Dave & Buster’s Entertainment from $75.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, August 31st. Finally, Raymond James Financial, Inc. restated an “outperform” rating and issued a $77.00 price target on shares of Dave & Buster’s Entertainment in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $74.11.

The firm’s 50-day moving average price is $54.85 and its 200-day moving average price is $62.07. The firm has a market cap of $2.00 billion, a PE ratio of 18.95 and a beta of 0.59.

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

Dave & Buster’s Entertainment announced that its board has authorized a share buyback program on Friday, September 8th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to repurchase up to 4.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its position in shares of Dave & Buster’s Entertainment by 335.9% in the 1st 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position 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 worth $143,000 after buying an additional 1,286 shares during the period. Strs Ohio grew its position 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 worth $140,000 after buying an additional 1,000 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in shares of Dave & Buster’s Entertainment in the 2nd quarter worth about $153,000. Finally, Point72 Asia Hong Kong Ltd grew its position 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 worth $149,000 after buying an additional 2,424 shares during the period.

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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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