Antonio Pineiro, Senior Vice President and Chief International Development Officer at Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY), has acquired 1,000 shares of the company's common stock. The transaction, dated December 13, 2024, was executed at a price of $27.35 per share, totaling $27,350. Following this acquisition, Pineiro now directly owns 25,646 shares of the company. This move reflects a continued commitment to the company's growth and development as it expands its international footprint. The insider purchase aligns with broader management confidence, as InvestingPro data shows active share buybacks by management. With a market cap of $1.09 billion and a P/E ratio of 12.9, Dave & Buster's maintains profitability despite recent market challenges. For deeper insights into PLAY's valuation and growth prospects, access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Dave & Buster's Entertainment Inc. has been the focus of multiple analyst adjustments following the company's third-quarter earnings report. Loop Capital lowered its price target for the company to $45, maintaining a Buy rating. This adjustment was prompted by the company's reported earnings per share (EPS) of ($0.45) for the third quarter of fiscal year 2024, falling short of both Loop Capital's and consensus estimates. Dave & Buster's total revenue for the same quarter was $453 million, a 3.0% year-over-year decrease, and lower than both Loop Capital's and consensus estimates.
In addition, the company announced the departure of CEO Chris Morris, with current Chairman Kevin Sheehan stepping in as interim CEO. BMO Capital maintained its Outperform rating for the company despite reducing the price target from $51.00 to $47.00. They cited remodeling efforts and marketing optimization as potential catalysts for improved performance. However, Benchmark, Truist Securities, and William Blair shifted their stance to a Hold rating due to strategic challenges, weaker than anticipated sales, and the sudden departure of CEO Chris Morris.
Raymond (NS:RYMD) James also retained a Market Perform rating, acknowledging the company's struggles but pointing to the low valuation as a possible downside protection. These recent developments have led to heightened uncertainty for Dave & Buster's, with analysts closely watching the company's strategic initiatives and leadership changes.
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