Dave & Buster’s Entertainment (NASDAQ:PLAY) Shares Down 5.8% – What’s Next?

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Gordon Haskett restated a “hold” rating and issued a $34.00 price target (down previously from $40.00) on shares of Dave & Buster’s Entertainment in a research report on Wednesday, December 11th. BMO Capital Markets dropped their target price on shares of 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. Loop Capital cut their price objective on shares of Dave & Buster’s Entertainment from $59.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Benchmark began coverage on Dave & Buster’s Entertainment in a report on Monday, October 7th. They set a “hold” rating for the company. Finally, Truist Financial reissued a “hold” rating and issued a $36.00 target price (down previously from $56.00) on shares of Dave & Buster’s Entertainment in a research note on Wednesday, December 11th. One equities research 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $53.38.

Dave & Buster’s Entertainment Stock Down 9.4 %

The firm has a market capitalization of $1.01 billion, a P/E ratio of 13.03 and a beta of 2.13. The stock has a fifty day moving average price of $36.17 and a two-hundred day moving average price of $36.32. The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.14 and a current ratio of 0.29.

Insider Activity

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

Hedge Funds Weigh In On Dave & Buster’s Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Eminence Capital LP grew its position in Dave & Buster’s Entertainment by 69.3% during the second quarter. Eminence Capital LP now owns 3,768,476 shares of the restaurant operator’s stock valued at $150,023,000 after purchasing an additional 1,542,154 shares in the last quarter. Rubric Capital Management LP grew its holdings in shares of Dave & Buster’s Entertainment by 104.7% during the 2nd quarter. Rubric Capital Management LP now owns 1,225,000 shares of the restaurant operator’s stock valued at $48,767,000 after acquiring an additional 626,497 shares in the last quarter. Sea Cliff Partners Management LP increased its stake in shares of Dave & Buster’s Entertainment by 90.8% in the second quarter. Sea Cliff Partners Management LP now owns 515,043 shares of the restaurant operator’s stock worth $20,504,000 after acquiring an additional 245,043 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Dave & Buster’s Entertainment by 36.2% during the second quarter. Marshall Wace LLP now owns 640,096 shares of the restaurant operator’s stock worth $25,482,000 after acquiring an additional 170,286 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new stake in shares of Dave & Buster’s Entertainment during the second quarter worth $5,191,000. 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.