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

Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) hit a new 52-week low 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 changing hands. The stock had previously closed at $25.07.

A number of other analysts have also weighed in on PLAY. Benchmark started coverage on shares of Dave & Buster’s Entertainment in a research note on Monday, October 7th. They issued a “hold” rating for the company. William Blair reaffirmed a “market perform” rating on shares of Dave & Buster’s Entertainment in a research report on Wednesday, December 11th. Loop Capital cut their price objective on shares of 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. BMO Capital Markets reduced 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 note on Wednesday, December 11th. Finally, Gordon Haskett reaffirmed a “hold” rating and set a $34.00 target price (down previously from $40.00) 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, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Dave & Buster’s Entertainment has an average rating of “Hold” and a consensus target price of $52.25.

Insiders Place Their Bets

In related news, CEO Kevin M. Sheehan acquired 19,025 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average cost of $26.44 per share, with a total value of $503,021.00. Following the transaction, the chief executive officer now directly owns 69,025 shares of the company’s stock, valued at $1,825,021. This trade represents a 38.05 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Dave & Buster’s Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC increased its position in shares of Dave & Buster’s Entertainment by 1,100.8% in the 4th quarter. SG Americas Securities LLC now owns 424,967 shares of the restaurant operator’s stock valued at $12,405,000 after acquiring an additional 389,577 shares during the period. Hennessy Advisors Inc. grew its stake in Dave & Buster’s Entertainment by 6.8% during the 4th quarter. Hennessy Advisors Inc. now owns 156,900 shares of the restaurant operator’s stock valued at $4,580,000 after purchasing an additional 10,000 shares during the last quarter. XTX Topco Ltd grew its stake in Dave & Buster’s Entertainment by 171.5% during the 3rd 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 during the last quarter. Systematic Financial Management LP acquired a new position in shares of Dave & Buster’s Entertainment in the third quarter valued at about $224,000. Finally, Quarry LP purchased a new position in shares of Dave & Buster’s Entertainment in the third quarter worth about $47,000. 91.45% of the stock is currently owned by institutional investors and hedge funds.

Dave & Buster’s Entertainment Price Performance

The stock has a fifty day moving average of $32.19 and a 200 day moving average of $33.82. The stock has a market cap of $926.70 million, a price-to-earnings ratio of 11.92 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.

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.