How Top Investors Are Trading Dave & Buster’s Entertainment, Inc. (PLAY)

Judging by the fact that Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) has faced falling interest from the entirety of the hedge funds we track, it’s safe to say that there lies a certain “tier” of money managers that elected to cut their positions entirely heading into Q4. It’s worth mentioning that Bart Baum’s Ionic Capital Management dropped the biggest investment of the “upper crust” of funds followed by Insider Monkey, comprising about $14.4 million in stock, and Anand Parekh of Alyeska Investment Group was right behind this move, as the fund dropped about $13.8 million worth of shares. These bearish behaviors are important to note, as aggregate hedge fund interest dropped by 3 funds heading into Q4.

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 Dean Foods Co (NYSE:DF), Eros International plc (NYSE:EROS), Press Ganey Holdings Inc (NYSE:PGND), and Nelnet, Inc. (NYSE:NNI). This group of stocks’ market caps is close to Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY)’s market cap.

As you can see, these stocks had an average of 18 hedge funds with bullish positions and the average amount invested in these stocks was $112 million. That figure was $165 million in Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY)’s case. Dean Foods Co (NYSE:DF) is the most popular stock in this table. On the other hand, Press Ganey Holdings Inc (NYSE:PGND) is the least popular one with only 13 bullish hedge fund positions. Compared to these stocks, Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) is more popular among hedge funds despite the slip in ownership. Considering that hedge funds are fond of this stock in relation to its market cap peers and have more money invested in it, it may be a good idea to analyze it in detail and potentially include it in your portfolio.