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

Shares of Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) gapped down before the market opened 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 traded.

A number of other equities research analysts have also recently weighed in on the company. 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. William Blair reaffirmed a “market perform” rating on shares of Dave & Buster’s Entertainment in a research report on Wednesday, December 11th. BMO Capital Markets cut their price target on shares of Dave & Buster’s Entertainment from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 11th. Finally, Gordon Haskett reissued 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $45.67.

Institutional Investors Weigh In On Dave & Buster’s Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Parallax Volatility Advisers L.P. grew its stake in shares of Dave & Buster’s Entertainment by 9.3% during the fourth quarter. Parallax Volatility Advisers L.P. now owns 7,441 shares of the restaurant operator’s stock worth $217,000 after purchasing an additional 632 shares in the last quarter. Cerity Partners LLC lifted its holdings in Dave & Buster’s Entertainment by 3.2% during the 3rd quarter. Cerity Partners LLC now owns 23,204 shares of the restaurant operator’s stock worth $790,000 after buying an additional 710 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Dave & Buster’s Entertainment by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,407 shares of the restaurant operator’s stock worth $537,000 after acquiring an additional 728 shares in the last quarter. KBC Group NV increased its holdings in shares of Dave & Buster’s Entertainment by 81.3% in the 4th quarter. KBC Group NV now owns 1,974 shares of the restaurant operator’s stock valued at $58,000 after acquiring an additional 885 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Dave & Buster’s Entertainment in the 3rd quarter valued at about $47,000. 91.45% of the stock is currently owned by institutional investors and hedge funds.

Dave & Buster’s Entertainment Stock Down 3.5 %

The firm has a 50-day moving average price of $22.64 and a two-hundred day moving average price of $29.57. The firm 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 debt-to-equity ratio of 6.38, a quick ratio of 0.19 and a current ratio of 0.29.

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.