Stock Traders Buy High Volume of Dave & Buster’s Entertainment Put Options (PLAY)
Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) was the recipient of some unusual options trading activity on Tuesday. Traders acquired 4,992 put options on the stock. This is an increase of 2,736% compared to the average daily volume of 176 put options.
Several equities research analysts recently commented on PLAY shares. Zacks Investment Research lowered shares of Dave & Buster’s Entertainment from a “buy” rating to a “hold” rating in a report on Monday, August 28th. BMO Capital Markets set a $72.00 price target on shares of Dave & Buster’s Entertainment and gave the stock an “outperform” rating in a report on Tuesday, August 29th. Longbow Research started coverage on shares of Dave & Buster’s Entertainment in a report on Friday, October 13th. They issued a “buy” rating and a $77.00 price target for the company. TheStreet raised shares of Dave & Buster’s Entertainment from a “c” rating to a “b-” rating in a report on Thursday, November 9th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $72.00 price target on shares of Dave & Buster’s Entertainment in a report on Sunday, October 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company. Dave & Buster’s Entertainment has a consensus rating of “Buy” and an average price target of $71.10.
In related news, CFO Brian Jenkins sold 2,000 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $52.30, for a total value of $104,600.00. Following the completion of the sale, the chief financial officer now owns 5,042 shares of the company’s stock, valued at approximately $263,696.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP J Michael Plunkett sold 3,000 shares of the business’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $51.20, for a total transaction of $153,600.00. The disclosure for this sale can be found here. 3.84% of the stock is owned by insiders.
Shares of Dave & Buster’s Entertainment (PLAY) opened at $54.96 on Friday. Dave & Buster’s Entertainment has a 1-year low of $45.71 and a 1-year high of $73.48. The stock has a market cap of $2,150.00, a price-to-earnings ratio of 21.16, a PEG ratio of 1.36 and a beta of 0.58. The company has a current ratio of 0.44, a quick ratio of 0.32 and a debt-to-equity ratio of 0.70.
Dave & Buster’s Entertainment (NASDAQ:PLAY) last released its earnings results on Wednesday, December 6th. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.06. Dave & Buster’s Entertainment had a net margin of 10.20% and a return on equity of 24.63%. The business had revenue of $250.00 million during the quarter, compared to analyst estimates of $255.70 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. equities research analysts forecast that Dave & Buster’s Entertainment will post 2.63 EPS for the current fiscal year.
Dave & Buster’s Entertainment announced that its board has initiated a share buyback program on Friday, September 8th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the restaurant operator to reacquire up to 4.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
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About Dave & Buster’s Entertainment
Dave & Busters 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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