Dave & Buster’s Entertainment (NASDAQ:PLAY) Shares Down 6.3% – Here’s Why

Shares of Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) were down 6.3% during mid-day trading on Tuesday . The company traded as low as $25.17 and last traded at $25.22. Approximately 1,305,740 shares traded hands during trading, a decline of 18% from the average daily volume of 1,584,719 shares. The stock had previously closed at $26.93.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. BMO Capital Markets cut 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 report on Wednesday, December 11th. Truist Financial reiterated a “hold” rating and issued a $36.00 price objective (down previously from $56.00) on shares of Dave & Buster’s Entertainment in a research report on Wednesday, December 11th. William Blair restated a “market perform” rating on shares of Dave & Buster’s Entertainment in a research report on Wednesday, December 11th. 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 research report on Wednesday, December 11th. Finally, Benchmark started coverage on shares of Dave & Buster’s Entertainment in a research note on Monday, October 7th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $53.38.

Dave & Buster’s Entertainment Trading Down 6.1 %

The company’s 50-day moving average is $33.39 and its 200-day moving average is $34.15. The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.14 and a current ratio of 0.29. The firm has a market cap of $973.74 million, a price-to-earnings ratio of 12.52 and a beta of 2.17.

Insider Activity at Dave & Buster’s Entertainment

In other news, CEO Kevin M. Sheehan purchased 19,025 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were acquired at an average price of $26.44 per share, for a total transaction of $503,021.00. Following the completion of the acquisition, the chief executive officer now directly owns 69,025 shares in the company, valued at approximately $1,825,021. The trade was a 38.05 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dave & Buster’s Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its position in Dave & Buster’s Entertainment by 4.0% in the 2nd quarter. Rhumbline Advisers now owns 102,967 shares of the restaurant operator’s stock valued at $4,099,000 after acquiring an additional 3,983 shares in the last quarter. Texas Permanent School Fund Corp boosted its position in shares of Dave & Buster’s Entertainment by 13.6% during the second quarter. Texas Permanent School Fund Corp now owns 31,969 shares of the restaurant operator’s stock worth $1,273,000 after buying an additional 3,831 shares during the period. American Century Companies Inc. grew its holdings in shares of Dave & Buster’s Entertainment by 8.2% during the second quarter. American Century Companies Inc. now owns 1,266,280 shares of the restaurant operator’s stock worth $50,411,000 after buying an additional 95,499 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Dave & Buster’s Entertainment by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,144,268 shares of the restaurant operator’s stock worth $45,553,000 after buying an additional 25,138 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in Dave & Buster’s Entertainment by 1,081.1% in the 2nd quarter. Hsbc Holdings PLC now owns 44,316 shares of the restaurant operator’s stock valued at $1,727,000 after acquiring an additional 40,564 shares in the last quarter. 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.