Dave & Buster’s Entertainment (NASDAQ:PLAY) Stock Price Down 5.8% – Here’s Why

Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) shares were down 5.8% on Wednesday . The stock traded as low as $27.38 and last traded at $27.38. Approximately 930,293 shares were traded during trading, a decline of 31% from the average daily volume of 1,346,755 shares. The stock had previously closed at $29.06.

Wall Street Analysts Forecast Growth

PLAY has been the subject of a number of research analyst reports. 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 report on Wednesday, December 11th. BMO Capital Markets reduced their price objective on Dave & Buster’s Entertainment from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Benchmark started coverage on Dave & Buster’s Entertainment in a research report on Monday, October 7th. They set a “hold” rating on the stock. StockNews.com cut Dave & Buster’s Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. Finally, William Blair reiterated a “market perform” rating on shares of Dave & Buster’s Entertainment in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Dave & Buster’s Entertainment presently has a consensus rating of “Hold” and a consensus target price of $53.38.

Dave & Buster’s Entertainment Stock Up 4.6 %

The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 13.56 and a beta of 2.13. The firm’s 50 day moving average is $35.94 and its two-hundred day moving average is $36.18. The company has a current ratio of 0.29, a quick ratio of 0.14 and a debt-to-equity ratio of 6.38.

Insider Activity

In other Dave & Buster’s Entertainment news, CEO Kevin M. Sheehan bought 37,735 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $25.48 per share, for a total transaction of $961,487.80. Following the completion of the purchase, the chief executive officer now owns 139,011 shares of the company’s stock, valued at $3,542,000.28. This trade represents a 37.26 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher Daniel Morris purchased 14,912 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was acquired at an average cost of $33.67 per share, for a total transaction of $502,087.04. Following the completion of the purchase, the chief executive officer now owns 83,847 shares in the company, valued at $2,823,128.49. The trade was a 21.63 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 71,672 shares of company stock valued at $1,966,596 over the last 90 days. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Dave & Buster’s Entertainment

Institutional investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System raised its stake in Dave & Buster’s Entertainment by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 16,200 shares of the restaurant operator’s stock worth $645,000 after purchasing an additional 300 shares during the period. GDS Wealth Management increased its holdings in shares of Dave & Buster’s Entertainment by 3.3% during the 3rd quarter. GDS Wealth Management now owns 15,202 shares of the restaurant operator’s stock worth $518,000 after buying an additional 488 shares during the last quarter. Kimelman & Baird LLC purchased a new position in shares of Dave & Buster’s Entertainment in the 2nd quarter worth $28,000. Cerity Partners LLC boosted its holdings in Dave & Buster’s Entertainment by 3.2% in the third quarter. Cerity Partners LLC now owns 23,204 shares of the restaurant operator’s stock valued at $790,000 after acquiring an additional 710 shares during the last quarter. Finally, Lombard Odier Asset Management USA Corp grew its position in Dave & Buster’s Entertainment by 21.4% during the second quarter. Lombard Odier Asset Management USA Corp now owns 6,900 shares of the restaurant operator’s stock valued at $275,000 after acquiring an additional 1,217 shares during the period. 91.45% of the stock is currently owned by hedge funds and other institutional investors.

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.