Dave & Buster’s Entertainment (NASDAQ:PLAY) Trading Down 8.9% – Here’s Why

Dave & Buster’s Entertainment Inc (NASDAQ:PLAY)’s share price was down 8.9% during trading on Tuesday . The company traded as low as $19.67 and last traded at $18.95. Approximately 101,785 shares were traded during trading, a decline of 93% from the average daily volume of 1,444,826 shares. The stock had previously closed at $20.81.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PLAY shares. Loop Capital decreased their price objective 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. William Blair restated a “market perform” rating on shares of Dave & Buster’s Entertainment in a report on Wednesday, December 11th. BMO Capital Markets dropped their target price on 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. Gordon Haskett reiterated a “hold” rating and set a $34.00 target price (down previously from $40.00) on shares of Dave & Buster’s Entertainment in a report on Wednesday, December 11th. Finally, Truist Financial dropped their price objective on Dave & Buster’s Entertainment from $36.00 to $27.00 and set a “hold” rating on the stock in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Dave & Buster’s Entertainment presently has an average rating of “Hold” and an average target price of $46.67.

Dave & Buster’s Entertainment Stock Performance

The stock has a fifty day simple moving average of $25.01 and a two-hundred day simple moving average of $30.77. The stock has a market cap of $700.83 million, a price-to-earnings ratio of 9.63 and a beta of 2.17. The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.19 and a current ratio of 0.29.

Insiders Place Their Bets

In other news, CEO Kevin M. Sheehan bought 19,025 shares of Dave & Buster’s Entertainment stock in a transaction dated Thursday, December 19th. The stock was bought at an average cost of $26.44 per share, for a total transaction of $503,021.00. Following the purchase, the chief executive officer now directly owns 69,025 shares in the company, valued at approximately $1,825,021. This represents a 38.05 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Dave & Buster’s Entertainment

Several hedge funds have recently modified their holdings of PLAY. Eminence Capital LP raised its holdings in shares of Dave & Buster’s Entertainment by 3.6% in the 4th quarter. Eminence Capital LP now owns 3,845,454 shares of the restaurant operator’s stock worth $112,249,000 after purchasing an additional 135,095 shares during the period. Patient Capital Management LLC raised its holdings in Dave & Buster’s Entertainment by 36.6% during the 4th quarter. Patient Capital Management LLC now owns 1,777,260 shares of the restaurant operator’s stock valued at $51,878,000 after acquiring an additional 476,662 shares during the period. Clearline Capital LP grew its position in Dave & Buster’s Entertainment by 1,768.8% in the fourth quarter. Clearline Capital LP now owns 1,146,224 shares of the restaurant operator’s stock worth $33,458,000 after acquiring an additional 1,084,890 shares in the last quarter. NewEdge Wealth LLC grew its position in Dave & Buster’s Entertainment by 13.4% in the fourth quarter. NewEdge Wealth LLC now owns 727,491 shares of the restaurant operator’s stock worth $21,235,000 after acquiring an additional 85,820 shares in the last quarter. Finally, Boston Partners grew its position in Dave & Buster’s Entertainment by 132.5% in the fourth quarter. Boston Partners now owns 567,734 shares of the restaurant operator’s stock worth $16,563,000 after acquiring an additional 323,595 shares in 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.