Dave & Buster’s Entertainment (NASDAQ:PLAY) Shares Down 6.3% – Here’s Why

Shares of Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) fell 6.3% on Tuesday . The stock traded as low as $25.17 and last traded at $25.22. 1,305,740 shares changed hands during trading, a decline of 18% from the average session volume of 1,584,719 shares. The stock had previously closed at $26.93.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PLAY shares. William Blair reissued a “market perform” rating on shares of Dave & Buster’s Entertainment in a research note on Wednesday, December 11th. Gordon Haskett reiterated a “hold” rating and issued a $34.00 price objective (down from $40.00) on shares of Dave & Buster’s Entertainment in a research report on Wednesday, December 11th. Loop Capital lowered their target price on Dave & Buster’s Entertainment from $59.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Truist Financial cut their price target on shares of Dave & Buster’s Entertainment from $36.00 to $27.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, BMO Capital Markets lowered their price objective on shares of Dave & Buster’s Entertainment from $51.00 to $47.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $52.25.

Dave & Buster’s Entertainment Stock Performance

The stock’s 50-day moving average price is $32.79 and its 200 day moving average price is $33.98. The firm has a market cap of $956.03 million, a P/E ratio of 12.29 and a beta of 2.17. The company has a debt-to-equity ratio of 6.38, a current ratio of 0.29 and a quick ratio of 0.19.

Insider Buying and Selling at Dave & Buster’s Entertainment

In related news, CEO Kevin M. Sheehan purchased 19,025 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was purchased at an average cost of $26.44 per share, for a total transaction of $503,021.00. Following the completion of the purchase, the chief executive officer now directly owns 69,025 shares in the company, valued at $1,825,021. This trade represents a 38.05 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Dave & Buster’s Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in PLAY. XTX Topco Ltd increased its holdings in Dave & Buster’s Entertainment by 171.5% during the third quarter. XTX Topco Ltd now owns 53,803 shares of the restaurant operator’s stock worth $1,832,000 after buying an additional 33,988 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Dave & Buster’s Entertainment by 3.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 462,191 shares of the restaurant operator’s stock worth $15,738,000 after purchasing an additional 15,015 shares during the last quarter. Eminence Capital LP increased its stake in shares of Dave & Buster’s Entertainment by 69.3% during the 2nd quarter. Eminence Capital LP now owns 3,768,476 shares of the restaurant operator’s stock worth $150,023,000 after purchasing an additional 1,542,154 shares during the last quarter. LMR Partners LLP bought a new stake in shares of Dave & Buster’s Entertainment in the 3rd quarter valued at about $3,167,000. Finally, Millennium Management LLC lifted its stake in Dave & Buster’s Entertainment by 55.2% in the 2nd quarter. Millennium Management LLC now owns 219,015 shares of the restaurant operator’s stock valued at $8,719,000 after purchasing an additional 77,916 shares during the last quarter. Institutional investors own 91.45% of the company’s stock.

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.