Dave & Buster’s Entertainment (NASDAQ:PLAY) Sets New 52-Week Low Following Analyst Downgrade

Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) hit a new 52-week low during mid-day trading on Thursday after Truist Financial lowered their price target on the stock from $27.00 to $21.00. Truist Financial currently has a hold rating on the stock. Dave & Buster’s Entertainment traded as low as $16.85 and last traded at $17.10, with a volume of 271578 shares trading hands. The stock had previously closed at $18.49.

Other equities analysts have also issued research reports about the stock. BMO Capital Markets decreased their target price 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. Loop Capital reduced their price target on shares of 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. Gordon Haskett reiterated a “hold” rating and set a $34.00 price objective (down previously from $40.00) on shares of Dave & Buster’s Entertainment in a research note on Wednesday, December 11th. Finally, William Blair restated a “market perform” rating on shares of Dave & Buster’s Entertainment in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $45.67.

Institutional Trading of Dave & Buster’s Entertainment

A number of hedge funds have recently made changes to their positions in the stock. Clare Market Investments LLC purchased a new stake in Dave & Buster’s Entertainment in the 4th quarter worth approximately $540,000. XTX Topco Ltd grew its stake in Dave & Buster’s Entertainment by 171.5% in the third quarter. XTX Topco Ltd now owns 53,803 shares of the restaurant operator’s stock valued at $1,832,000 after purchasing an additional 33,988 shares in the last quarter. Charles Schwab Investment Management Inc. raised 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Dave & Buster’s Entertainment during the 4th quarter valued at about $3,677,000. Finally, Principal Financial Group Inc. grew its stake in shares of Dave & Buster’s Entertainment by 2.3% in the 4th quarter. Principal Financial Group Inc. now owns 153,487 shares of the restaurant operator’s stock valued at $4,480,000 after buying an additional 3,494 shares in the last quarter. 91.45% of the stock is owned by hedge funds and other institutional investors.

Dave & Buster’s Entertainment Stock Down 7.7 %

The stock has a market cap of $656.86 million, a price-to-earnings ratio of 8.44 and a beta of 1.86. The business has a fifty day moving average of $22.48 and a 200 day moving average of $29.50. The company has a debt-to-equity ratio of 6.38, a current ratio of 0.29 and a quick ratio of 0.19.

About Dave & Buster’s Entertainment

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.