Dave & Buster’s Entertainment (NASDAQ:PLAY) Trading Down 3.6% – Here’s Why

Dave & Buster’s Entertainment Inc (NASDAQ:PLAY)’s share price was down 3.6% during trading on Tuesday . The stock traded as low as $34.93 and last traded at $35.08. 230,245 shares changed hands during trading, a decline of 82% from the average session volume of 1,246,573 shares. The stock had previously closed at $36.40.

Analysts Set New Price Targets

A number of research firms recently weighed in on PLAY. Benchmark initiated coverage on Dave & Buster’s Entertainment in a research report on Monday, October 7th. They issued a “hold” rating for the company. Loop Capital lowered their price objective on shares of Dave & Buster’s Entertainment from $63.00 to $59.00 and set a “buy” rating for the company in a report on Thursday, September 12th. StockNews.com lowered shares of Dave & Buster’s Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. BMO Capital Markets lowered their price target on shares of Dave & Buster’s Entertainment from $65.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday, September 11th. Finally, Truist Financial lowered their price objective on Dave & Buster’s Entertainment from $64.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Dave & Buster’s Entertainment has a consensus rating of “Hold” and an average price target of $62.57.

Dave & Buster’s Entertainment Stock Performance

The company has a market capitalization of $1.35 billion, a P/E ratio of 12.50 and a beta of 2.13. The company’s 50 day moving average is $35.54 and its 200-day moving average is $38.72. The company has a current ratio of 0.24, a quick ratio of 0.14 and a debt-to-equity ratio of 4.54.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last issued its quarterly earnings results on Tuesday, September 10th. The restaurant operator reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.28. Dave & Buster’s Entertainment had a return on equity of 51.75% and a net margin of 5.10%. The firm had revenue of $557.10 million for the quarter, compared to analysts’ expectations of $560.65 million. During the same period in the previous year, the firm posted $0.94 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities analysts anticipate that Dave & Buster’s Entertainment Inc will post 2.62 EPS for the current fiscal year.

Insider Activity

In other Dave & Buster’s Entertainment news, CEO Christopher Daniel Morris acquired 14,912 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were bought at an average cost of $33.67 per share, with a total value of $502,087.04. Following the completion of the transaction, the chief executive officer now directly owns 83,847 shares of the company’s stock, valued at approximately $2,823,128.49. This represents a 21.63 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Dave & Buster’s Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd raised its holdings in shares of Dave & Buster’s Entertainment by 171.5% during 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 during the last quarter. Systematic Financial Management LP bought a new position in shares of Dave & Buster’s Entertainment during the 3rd quarter valued at $224,000. Quarry LP purchased a new position in shares of Dave & Buster’s Entertainment in the 3rd quarter worth $47,000. RBF Capital LLC bought a new stake in shares of Dave & Buster’s Entertainment in the third quarter worth $511,000. Finally, Centiva Capital LP purchased a new position in Dave & Buster’s Entertainment in the third quarter worth about $328,000. Institutional investors 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.