Dave & Buster’s Entertainment (NASDAQ:PLAY) Hits New 12-Month Low Following Analyst Downgrade

Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) shares reached a new 52-week low during mid-day trading on Thursday after Truist Financial lowered their price target on the stock from $36.00 to $27.00. Truist Financial currently has a hold rating on the stock. Dave & Buster’s Entertainment traded as low as $23.61 and last traded at $23.63, with a volume of 229979 shares traded. The stock had previously closed at $25.07.

Other research analysts have also recently issued research reports about the stock. Benchmark started coverage on shares of Dave & Buster’s Entertainment in a report on Monday, October 7th. They set a “hold” rating for the company. William Blair reiterated a “market perform” rating on shares of Dave & Buster’s Entertainment in a research note on Wednesday, December 11th. Loop Capital decreased their price objective on Dave & Buster’s Entertainment from $59.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, December 12th. BMO Capital Markets dropped their target price on Dave & Buster’s Entertainment from $51.00 to $47.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Finally, Gordon Haskett reiterated a “hold” rating and set a $34.00 price target (down from $40.00) on shares of Dave & Buster’s Entertainment in a research report on Wednesday, December 11th. One equities 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $52.25.

Insider Buying and Selling

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

Hedge Funds Weigh In On Dave & Buster’s Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kimelman & Baird LLC acquired a new position in shares of Dave & Buster’s Entertainment during the 2nd quarter worth about $28,000. Quarry LP purchased a new stake in Dave & Buster’s Entertainment during the 3rd quarter worth approximately $47,000. Point72 Hong Kong Ltd acquired a new position in shares of Dave & Buster’s Entertainment during the third quarter valued at approximately $121,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Dave & Buster’s Entertainment in the third quarter valued at approximately $144,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Dave & Buster’s Entertainment in the third quarter worth approximately $196,000. 91.45% of the stock is owned by hedge funds and other institutional investors.

Dave & Buster’s Entertainment Price Performance

The company has a 50-day moving average of $32.79 and a 200 day moving average of $33.98. The company has a quick ratio of 0.19, a current ratio of 0.29 and a debt-to-equity ratio of 6.38. The stock has a market capitalization of $956.03 million, a PE ratio of 12.29 and a beta of 2.17.

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.