In a recent transaction, John Mulleady, Senior Vice President of Real Estate and Development at Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY), sold 6,000 shares of the company's common stock. The shares were sold on December 26 at a weighted average price of $29.33, with prices ranging from $29.25 to $29.43. This sale amounted to a total value of approximately $175,980. Following this transaction, Mulleady retains ownership of 51,183 shares in the company. While the stock has shown significant volatility, posting a 14% gain in the past week despite a 45% decline over the past year, InvestingPro analysis suggests the stock is currently trading near its Fair Value. Discover 12 additional exclusive ProTips and comprehensive financial analysis in the Pro Research Report, available with an InvestingPro subscription.
In other recent news, Dave & Buster's Entertainment, Inc. has made some significant moves. The company's Board of Directors recently approved an additional $100 million for stock buybacks, reflecting a commitment to its financial strategy and confidence in the long-term value of its stock. This move is part of ongoing efforts to enhance shareholder value.
Simultaneously, the company has faced a series of financial revisions and leadership changes. Dave & Buster's reported earnings per share (EPS) of ($0.45) for the third quarter of fiscal year 2024, with total revenue for the quarter standing at $453 million, marking a 3.0% year-over-year decrease.
In the wake of these developments, several analyst firms have adjusted their outlooks on the company. Loop Capital lowered its price target for Dave & Buster's to $45, maintaining a Buy rating. BMO Capital and Benchmark maintained their Outperform and Hold ratings respectively, despite the company's third-quarter earnings falling short of consensus. Raymond (NS:RYMD) James reiterated a Market Perform rating, acknowledging the company's struggles.
These recent developments highlight the ongoing financial and strategic challenges faced by Dave & Buster's. The company has also announced the departure of CEO Chris Morris, with Kevin Sheehan stepping in as interim CEO. As these events unfold, investors and market watchers will be keeping a close eye on the company's next steps.
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