Dave & Buster’s Entertainment (NASDAQ:PLAY) Shares Gap Down Following Analyst Downgrade

Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) shares gapped down prior to trading on Wednesday after Truist Financial lowered their price target on the stock from $27.00 to $21.00. The stock had previously closed at $18.10, but opened at $17.38. Truist Financial currently has a hold rating on the stock. Dave & Buster’s Entertainment shares last traded at $17.44, with a volume of 59,607 shares trading hands.

Several other analysts also recently weighed in on the company. William Blair reissued a “market perform” rating on shares of Dave & Buster’s Entertainment in a report on Wednesday, December 11th. Gordon Haskett reiterated a “hold” rating and issued a $34.00 price objective (down previously from $40.00) on shares of Dave & Buster’s Entertainment in a research note on Wednesday, December 11th. BMO Capital Markets decreased their price objective on 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. Finally, Loop Capital cut their target price on shares of Dave & Buster’s Entertainment from $59.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $45.67.

Institutional Trading of Dave & Buster’s Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP purchased a new position in Dave & Buster’s Entertainment during the third quarter worth about $47,000. SBI Securities Co. Ltd. acquired a new position in Dave & Buster’s Entertainment during the 4th quarter worth approximately $47,000. KBC Group NV raised its stake in shares of Dave & Buster’s Entertainment by 81.3% during the 4th quarter. KBC Group NV now owns 1,974 shares of the restaurant operator’s stock worth $58,000 after buying an additional 885 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Dave & Buster’s Entertainment in the 3rd quarter valued at approximately $121,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Dave & Buster’s Entertainment in the third quarter valued at approximately $144,000. Hedge funds and other institutional investors own 91.45% of the company’s stock.

Dave & Buster’s Entertainment Price Performance

The stock has a fifty day moving average of $22.64 and a two-hundred day moving average of $29.57. The stock has a market cap of $672.26 million, a price-to-earnings ratio of 8.56 and a beta of 1.86. The company has a quick ratio of 0.19, a current ratio of 0.29 and a debt-to-equity ratio of 6.38.

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.