Dave & Buster’s Entertainment (NASDAQ:PLAY) Hits New 52-Week Low – What’s Next?

Shares of Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $18.26 and last traded at $18.70, with a volume of 1893737 shares trading hands. The stock had previously closed at $20.81.

Analysts Set New Price Targets

A number of research firms have commented on PLAY. Gordon Haskett reissued a “hold” rating and issued a $34.00 target price (down previously from $40.00) on shares of Dave & Buster’s Entertainment in a report on Wednesday, December 11th. BMO Capital Markets reduced 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. Truist Financial decreased their target price on Dave & Buster’s Entertainment from $36.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday, January 16th. Loop Capital decreased 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 report on Thursday, December 12th. Finally, William Blair reissued a “market perform” rating on shares of Dave & Buster’s Entertainment in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $46.67.

Dave & Buster’s Entertainment Stock Performance

The business’s fifty day moving average is $25.21 and its 200-day moving average is $30.85. 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 company has a market cap of $720.01 million, a PE ratio of 9.26 and a beta of 2.17.

Insiders Place Their Bets

In related news, CEO Kevin M. Sheehan bought 19,025 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were bought at an average cost of $26.44 per share, for a total transaction of $503,021.00. Following the completion of the transaction, the chief executive officer now owns 69,025 shares of the company’s stock, valued at approximately $1,825,021. This trade represents a 38.05 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Trading of Dave & Buster’s Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of PLAY. Clearline Capital LP grew its stake in shares of 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 valued at $33,458,000 after acquiring an additional 1,084,890 shares during the period. Patient Capital Management LLC lifted its holdings in Dave & Buster’s Entertainment by 36.6% during the fourth quarter. Patient Capital Management LLC now owns 1,777,260 shares of the restaurant operator’s stock valued at $51,878,000 after purchasing an additional 476,662 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Dave & Buster’s Entertainment by 1,100.8% in the fourth quarter. SG Americas Securities LLC now owns 424,967 shares of the restaurant operator’s stock worth $12,405,000 after purchasing an additional 389,577 shares during the period. Boston Partners increased its stake in shares of Dave & Buster’s Entertainment by 132.5% in the fourth quarter. Boston Partners now owns 567,734 shares of the restaurant operator’s stock worth $16,563,000 after purchasing an additional 323,595 shares in the last quarter. Finally, Woodline Partners LP bought a new stake in shares of Dave & Buster’s Entertainment during the 4th quarter valued at $6,702,000. Hedge funds and other institutional investors own 91.45% of the company’s stock.

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.