Dave & Buster’s Entertainment (NASDAQ:PLAY) Trading Down 3.8% Following Analyst Downgrade

Dave & Buster’s Entertainment Inc (NASDAQ:PLAYGet Rating) shares were down 3.8% during trading on Tuesday after Stifel Nicolaus lowered their price target on the stock from $45.00 to $36.00. The company traded as low as $32.85 and last traded at $32.85. Approximately 29,961 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 1,355,990 shares. The stock had previously closed at $34.13.

PLAY has been the topic of a number of other reports. Piper Sandler boosted their target price on Dave & Buster’s Entertainment from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 8th. Raymond James upped their target price on Dave & Buster’s Entertainment from $55.00 to $60.00 and gave the company a “strong-buy” rating in a report on Wednesday, March 30th. BMO Capital Markets upped their target price on Dave & Buster’s Entertainment from $62.00 to $66.00 in a report on Wednesday, June 8th. Deutsche Bank Aktiengesellschaft upped their target price on Dave & Buster’s Entertainment from $50.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, March 30th. Finally, StockNews.com assumed coverage on Dave & Buster’s Entertainment in a report on Thursday, March 31st. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $53.30.

In other Dave & Buster’s Entertainment news, CEO Kevin M. Sheehan bought 10,000 shares of the stock in a transaction on Friday, April 8th. The shares were purchased at an average price of $40.58 per share, with a total value of $405,800.00. Following the acquisition, the chief executive officer now directly owns 163,798 shares of the company’s stock, valued at approximately $6,646,922.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Michael Joseph Metzinger sold 572 shares of the firm’s stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $45.91, for a total value of $26,260.52. Following the completion of the sale, the vice president now directly owns 15,712 shares in the company, valued at approximately $721,337.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,798 shares of company stock worth $538,161. 3.21% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of Dave & Buster’s Entertainment by 0.4% in the 1st quarter. BlackRock Inc. now owns 6,454,597 shares of the restaurant operator’s stock valued at $316,921,000 after buying an additional 23,447 shares during the period. Vanguard Group Inc. grew its stake in shares of Dave & Buster’s Entertainment by 0.5% during the first quarter. Vanguard Group Inc. now owns 5,154,666 shares of the restaurant operator’s stock worth $253,094,000 after purchasing an additional 26,289 shares during the period. Hill Path Capital LP grew its stake in Dave & Buster’s Entertainment by 9.7% in the fourth quarter. Hill Path Capital LP now owns 5,018,004 shares of the restaurant operator’s stock valued at $192,691,000 after acquiring an additional 443,738 shares during the period. American Century Companies Inc. grew its stake in Dave & Buster’s Entertainment by 36.8% in the fourth quarter. American Century Companies Inc. now owns 2,656,870 shares of the restaurant operator’s stock valued at $102,024,000 after acquiring an additional 714,895 shares during the period. Finally, Candlestick Capital Management LP grew its stake in Dave & Buster’s Entertainment by 34.6% in the fourth quarter. Candlestick Capital Management LP now owns 1,622,942 shares of the restaurant operator’s stock valued at $62,321,000 after acquiring an additional 417,198 shares during the period. Hedge funds and other institutional investors own 97.24% of the company’s stock.

The company has a market capitalization of $1.61 billion, a P/E ratio of 10.83, a price-to-earnings-growth ratio of 0.66 and a beta of 1.82. The business has a fifty day moving average price of $40.53 and a 200 day moving average price of $39.91. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 1.23.

Dave & Buster’s Entertainment (NASDAQ:PLAYGet Rating) last released its earnings results on Tuesday, June 7th. The restaurant operator reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.19. Dave & Buster’s Entertainment had a return on equity of 56.54% and a net margin of 10.47%. The business had revenue of $451.10 million for the quarter, compared to analyst estimates of $440.63 million. During the same quarter in the prior year, the company posted $0.40 earnings per share. Dave & Buster’s Entertainment’s revenue was up 70.0% on a year-over-year basis. As a group, equities analysts forecast that Dave & Buster’s Entertainment Inc will post 3.47 earnings per share for the current year.

About Dave & Buster’s Entertainment (NASDAQ:PLAY)

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.

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