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

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

Analysts Set New Price Targets

Several research firms have weighed in on PLAY. Truist Financial lowered their price target on shares of Dave & Buster’s Entertainment from $36.00 to $27.00 and set a “hold” rating for the company in a research note on Thursday, January 16th. BMO Capital Markets lowered their price target 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. William Blair reissued a “market perform” rating on shares of Dave & Buster’s Entertainment in a research note on Wednesday, December 11th. Loop Capital lowered 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. Finally, Gordon Haskett reaffirmed a “hold” rating and set a $34.00 price objective (down from $40.00) on shares of Dave & Buster’s Entertainment in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Dave & Buster’s Entertainment has an average rating of “Hold” and a consensus price target of $46.67.

Dave & Buster’s Entertainment Stock Down 2.7 %

The business’s fifty day moving average is $25.01 and its two-hundred day moving average is $30.77. The company has a market cap of $700.83 million, a P/E 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.

Insider Activity

In other news, CEO Kevin M. Sheehan acquired 19,025 shares of Dave & Buster’s Entertainment stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average price 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 $1,825,021. The trade was a 38.05 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Dave & Buster’s Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new stake in shares of Dave & Buster’s Entertainment in the third quarter worth $47,000. SBI Securities Co. Ltd. acquired a new stake in Dave & Buster’s Entertainment during the fourth quarter valued at $47,000. KBC Group NV grew its position in Dave & Buster’s Entertainment by 81.3% during the fourth quarter. KBC Group NV now owns 1,974 shares of the restaurant operator’s stock valued at $58,000 after buying an additional 885 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Dave & Buster’s Entertainment during the third quarter valued at $121,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Dave & Buster’s Entertainment during the third quarter valued at $144,000. Institutional investors and hedge funds own 91.45% of the company’s stock.

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.