This week, two of Dave & Buster’s Entertainment’s (NASDAQ:PLAY) corporate insiders bought shares for a total value of $28.5 million in multiple transactions between December 22 and December 27.
The company operates more than 200 full-service restaurants in North America that offer entertainment and dining experiences under two distinct brands, i.e., Dave & Buster’s and Main Event.
Insider Transactions Details
A more than 10% owner of Dave & Buster’s, Hill Path Capital Partners LP, bought 410,202 PLAY shares at an average price of $34.73 per share. The total value of the purchase stood at $14.25 million. Prior to this, the firm disclosed another informative buy of the company’s shares worth $17.93 million on December 21. Another insider, Hill Path D Fund LP, made similar informative buy transactions.
It is worth mentioning that Hill Path Capital Partners has a success rate of 62% with an average return of 18.9% per transaction.
Insiders are Bullish on Dave & Buster’s Stock
Overall, corporate insiders have a very positive stance on Dave & Buster’s. They have bought PLAY shares worth $129.8 million over the last three months.
Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Is PLAY a Good Stock to Buy?
On TipRanks, Dave & Buster’s stock has a Moderate Buy consensus rating based on four Buys and two Holds. The average PLAY stock price target of $49 implies 40.6% upside potential. The stock is down more than 11% so far this year.
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