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

Shares of Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) hit a new 52-week low on Thursday after Truist Financial lowered their price target on the stock from $27.00 to $21.00. Truist Financial currently has a hold rating on the stock. Dave & Buster’s Entertainment traded as low as $16.85 and last traded at $17.10, with a volume of 271578 shares traded. The stock had previously closed at $18.49.

Several other research firms also recently weighed in on PLAY. 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 dropped their price objective on Dave & Buster’s Entertainment from $59.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Gordon Haskett reissued a “hold” rating and set a $34.00 target price (down previously from $40.00) on shares of Dave & Buster’s Entertainment in a research note on Wednesday, December 11th. Finally, William Blair reaffirmed a “market perform” rating 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, five have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $40.60.

Institutional Investors Weigh In On Dave & Buster’s Entertainment

Several large investors have recently bought and sold shares of PLAY. Eminence Capital LP grew its position in shares of Dave & Buster’s Entertainment by 3.6% during the fourth quarter. Eminence Capital LP now owns 3,845,454 shares of the restaurant operator’s stock worth $112,249,000 after buying an additional 135,095 shares in the last quarter. Patient Capital Management LLC grew its holdings in Dave & Buster’s Entertainment by 36.6% during the 4th quarter. Patient Capital Management LLC now owns 1,777,260 shares of the restaurant operator’s stock worth $51,878,000 after acquiring an additional 476,662 shares in the last quarter. Clearline Capital LP grew its holdings in Dave & Buster’s Entertainment by 1,768.8% during the 4th quarter. Clearline Capital LP now owns 1,146,224 shares of the restaurant operator’s stock worth $33,458,000 after acquiring an additional 1,084,890 shares in the last quarter. NewEdge Wealth LLC increased its position in shares of Dave & Buster’s Entertainment by 13.4% in the 4th quarter. NewEdge Wealth LLC now owns 727,491 shares of the restaurant operator’s stock valued at $21,235,000 after purchasing an additional 85,820 shares during the last quarter. Finally, Boston Partners raised its holdings in shares of Dave & Buster’s Entertainment by 132.5% in the 4th quarter. Boston Partners now owns 567,734 shares of the restaurant operator’s stock valued at $16,563,000 after purchasing an additional 323,595 shares in the last quarter. Hedge funds and other institutional investors own 91.45% of the company’s stock.

Dave & Buster’s Entertainment Price Performance

The firm has a market capitalization of $648.01 million, a price-to-earnings ratio of 8.33 and a beta of 1.86. The stock’s fifty day moving average price is $22.02 and its two-hundred day moving average price is $29.30. The company has a current ratio of 0.29, a quick ratio of 0.19 and a debt-to-equity ratio of 6.38.

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.