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

Dave & Buster's Entertainment Inc (NASDAQ:PLAY - Get Free Report)'s share price reached a new 52-week low during trading on Thursday after Loop Capital lowered their price target on the stock from $59.00 to $45.00. Loop Capital currently has a buy rating on the stock. Dave & Buster's Entertainment traded as low as $28.20 and last traded at $28.21, with a volume of 735659 shares traded. The stock had previously closed at $29.41.

Several other research firms have also recently commented on PLAY. Gordon Haskett reiterated a "hold" rating and set a $34.00 target price (down from $40.00) on shares of Dave & Buster's Entertainment in a research note on Wednesday. William Blair reissued a "market perform" rating on shares of Dave & Buster's Entertainment in a report on Wednesday. Truist Financial restated a "hold" rating and issued a $36.00 target price (down previously from $56.00) on shares of Dave & Buster's Entertainment in a research note on Wednesday. Benchmark initiated coverage on Dave & Buster's Entertainment in a research note on Monday, October 7th. They issued a "hold" rating for the company. Finally, StockNews.com cut Dave & Buster's Entertainment from a "hold" rating to a "sell" rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Dave & Buster's Entertainment currently has a consensus rating of "Hold" and an average price target of $53.38.

Insider Buying and Selling at Dave & Buster's Entertainment

In other news, CEO Kevin M. Sheehan bought 37,735 shares of the stock in a transaction on Thursday, December 12th. The shares were purchased at an average price of $25.48 per share, for a total transaction of $961,487.80. Following the completion of the purchase, the chief executive officer now directly owns 139,011 shares of the company's stock, valued at $3,542,000.28. This trade represents a 37.26 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher Daniel Morris purchased 14,912 shares of Dave & Buster's Entertainment stock in a transaction dated Monday, October 7th. The shares were purchased at an average price of $33.67 per share, with a total value of $502,087.04. Following the completion of the acquisition, the chief executive officer now owns 83,847 shares in the company, valued at $2,823,128.49. The trade was a 21.63 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Dave & Buster's Entertainment

Institutional investors have recently made changes to their positions in the business. Eminence Capital LP increased its position in Dave & Buster's Entertainment by 69.3% in the 2nd quarter. Eminence Capital LP now owns 3,768,476 shares of the restaurant operator's stock worth $150,023,000 after buying an additional 1,542,154 shares during the period. Rubric Capital Management LP increased its stake in Dave & Buster's Entertainment by 104.7% in the second quarter. Rubric Capital Management LP now owns 1,225,000 shares of the restaurant operator's stock valued at $48,767,000 after acquiring an additional 626,497 shares during the period. Sea Cliff Partners Management LP raised its position in Dave & Buster's Entertainment by 90.8% in the second quarter. Sea Cliff Partners Management LP now owns 515,043 shares of the restaurant operator's stock worth $20,504,000 after purchasing an additional 245,043 shares in the last quarter. Marshall Wace LLP lifted its stake in Dave & Buster's Entertainment by 36.2% during the second quarter. Marshall Wace LLP now owns 640,096 shares of the restaurant operator's stock worth $25,482,000 after purchasing an additional 170,286 shares during the period. Finally, Hennessy Advisors Inc. acquired a new stake in Dave & Buster's Entertainment during the second quarter valued at approximately $5,191,000. 91.45% of the stock is currently owned by institutional investors.

Dave & Buster's Entertainment Stock Performance

The company has a debt-to-equity ratio of 4.54, a quick ratio of 0.14 and a current ratio of 0.24. The firm has a 50 day moving average price of $36.64 and a two-hundred day moving average price of $37.02. The company has a market capitalization of $1.00 billion, a P/E ratio of 12.62 and a beta of 2.13.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last announced its quarterly earnings results on Tuesday, September 10th. The restaurant operator reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.28. Dave & Buster's Entertainment had a return on equity of 51.75% and a net margin of 5.10%. The firm had revenue of $557.10 million for the quarter, compared to analysts' expectations of $560.65 million. During the same period in the prior year, the business posted $0.94 earnings per share. The business's revenue was up 2.8% compared to the same quarter last year. On average, research analysts expect that Dave & Buster's Entertainment Inc will post 2.59 earnings per share for the current fiscal year.

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.