Dave & Buster’s Entertainment, Inc. (PLAY): Are Hedge Funds Right To Love This Stock?

As one would reasonably expect, specific money managers have jumped into Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) headfirst. 12 West Capital Management established the largest position in Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY). 12 West Capital Management had $46.1 million invested in the company at the end of the quarter. James Dinan’s York Capital Management also made a $12.7 million investment in the stock during the quarter. The following funds were also among the new PLAY investors: Dmitry Balyasny’s Balyasny Asset Management, Leon Shaulov’s Maplelane Capital, and Glenn Russell Dubin’s Highbridge Capital Management.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) but similarly valued. We will take a look at Qunar Cayman Islands Ltd (NASDAQ:QUNR), NOW Inc (NYSE:DNOW), The New York Times Company (NYSE:NYT), and Parkway Properties Inc (NYSE:PKY). This group of stocks’ market caps are similar to PLAY’s market cap.

As you can see these stocks had an average of 14.25 hedge funds with bullish positions and the average amount invested in these stocks was $142 million. That figure was $426 million in PLAY’s case. The New York Times Company (NYSE:NYT) is the most popular stock in this table. On the other hand Qunar Cayman Islands Ltd (NASDAQ:QUNR) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) is more popular among hedge funds and enticing more and more investors. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None