Dave & Buster’s Entertainment (NASDAQ:PLAY) Sets New 12-Month Low on Analyst Downgrade

Dave & Buster’s Entertainment Inc (NASDAQ:PLAY)’s share price hit a new 52-week low during mid-day trading on Thursday after Truist Financial lowered their price target on the stock from $36.00 to $27.00. Truist Financial currently has a hold rating on the stock. Dave & Buster’s Entertainment traded as low as $23.61 and last traded at $23.63, with a volume of 229979 shares traded. The stock had previously closed at $25.07.

PLAY has been the topic of several other reports. BMO Capital Markets dropped their target price on shares of Dave & Buster’s Entertainment from $51.00 to $47.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. William Blair restated a “market perform” rating on shares of Dave & Buster’s Entertainment in a report on Wednesday, December 11th. Gordon Haskett reaffirmed a “hold” rating and issued a $34.00 target price (down from $40.00) on shares of Dave & Buster’s Entertainment in a research note on Wednesday, December 11th. Benchmark began coverage on Dave & Buster’s Entertainment in a report on Monday, October 7th. They set a “hold” rating for the company. Finally, Loop Capital cut their price target on Dave & Buster’s Entertainment from $59.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $52.25.

Insider Activity at Dave & Buster’s Entertainment

In other Dave & Buster’s Entertainment news, CEO Kevin M. Sheehan purchased 19,025 shares of Dave & Buster’s Entertainment stock in a transaction that occurred on Thursday, December 19th. The stock was acquired at an average price of $26.44 per share, for a total transaction of $503,021.00. Following the completion of the acquisition, the chief executive officer now owns 69,025 shares of the company’s stock, valued at approximately $1,825,021. This trade represents a 38.05 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 1.60% of the stock is owned by company insiders.

Institutional Trading of Dave & Buster’s Entertainment

A number of hedge funds have recently made changes to their positions in the business. Eminence Capital LP raised its stake in Dave & Buster’s Entertainment by 69.3% in the 2nd quarter. Eminence Capital LP now owns 3,768,476 shares of the restaurant operator’s stock valued at $150,023,000 after acquiring an additional 1,542,154 shares during the period. Rubric Capital Management LP raised its position in shares of Dave & Buster’s Entertainment by 104.7% in the second quarter. Rubric Capital Management LP now owns 1,225,000 shares of the restaurant operator’s stock valued at $48,767,000 after purchasing an additional 626,497 shares during the period. Sea Cliff Partners Management LP lifted its stake in shares of Dave & Buster’s Entertainment by 90.8% during the 2nd quarter. Sea Cliff Partners Management LP now owns 515,043 shares of the restaurant operator’s stock worth $20,504,000 after buying an additional 245,043 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Dave & Buster’s Entertainment by 36.2% during the 2nd quarter. Marshall Wace LLP now owns 640,096 shares of the restaurant operator’s stock worth $25,482,000 after buying an additional 170,286 shares during the period. Finally, LMR Partners LLP acquired a new position in Dave & Buster’s Entertainment in the 3rd quarter valued at about $3,167,000. 91.45% of the stock is owned by institutional investors and hedge funds.

Dave & Buster’s Entertainment Stock Performance

The stock has a market capitalization of $894.81 million, a P/E ratio of 11.51 and a beta of 2.17. The company’s fifty day simple moving average is $33.13 and its two-hundred day simple moving average is $34.04. The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.19 and a current ratio of 0.29.

Dave & Buster’s Entertainment Company Profile

Dave & Buster's Entertainment, Inc owns and operates entertainment and dining venues for adults and families. Its venues offer a menu of entrees and appetizers, as well as a selection of non-alcoholic and alcoholic beverages; and an assortment of entertainment attractions centered on playing games and watching live sports, and other televised events.