3 Restaurant Stocks to Watch Amid “Tightening Spending”

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In this article, we discuss the 3 restaurant stocks to watch amid tightening spending. If you want to read about some more restaurant stocks to watch amid tightening spending, go directly to 6 Restaurant Stocks to Watch Amid “Tightening Spending”.

3. Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY)

Number of Hedge Fund Holders: 31    

Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) owns and runs entertainment and dining venues. In late July, the company announced that it had closed the acquisition of Main Event from Ardent Leisure Group Limited. Back in early April, the former had purchased the latter in a deal worth $835 million. The firm expects accelerated, profitable growth under the deal and believes it will unlock additional value for its shareholders. Main Event is a family entertainment firm with 50 stores in the US. 

On July 13, Truist analyst Jake Bartlett maintained a Buy rating on Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) stock and lowered the price target to $57 from $67, noting that the firm had put out worse-than-expected near-term sales trends. 

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Hill Path Capital is a leading shareholder in Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY), with 5 million shares worth more than $164 million. 

At the end of the second quarter of 2022, 31 hedge funds in the database of Insider Monkey held stakes worth $478 million in Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY), compared to 36 the preceding quarter worth $762 million.

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