Dave & Buster's Entertainment (NASDAQ:PLAY) Sets New 52-Week Low After Analyst Downgrade

Shares of Dave & Buster's Entertainment Inc (NASDAQ:PLAY - Get Free Report) hit a new 52-week low on Thursday after Truist Financial lowered their price target on the stock from $36.00 to $27.00. Truist Financial currently has a hold rating on the stock. Dave & Buster's Entertainment traded as low as $23.61 and last traded at $23.63, with a volume of 229979 shares traded. The stock had previously closed at $25.07.

PLAY has been the topic of several other reports. William Blair reaffirmed a "market perform" rating on shares of Dave & Buster's Entertainment in a report on Wednesday, December 11th. Loop Capital reduced their target price on Dave & Buster's Entertainment from $59.00 to $45.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. Benchmark began coverage on shares of Dave & Buster's Entertainment in a report on Monday, October 7th. They set a "hold" rating for the company. Gordon Haskett reiterated a "hold" rating and set a $34.00 price objective (down from $40.00) on shares of Dave & Buster's Entertainment in a research report on Wednesday, December 11th. Finally, 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 on the stock in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Dave & Buster's Entertainment currently has a consensus rating of "Hold" and a consensus target price of $52.25.

Insiders Place Their Bets

In other Dave & Buster's Entertainment news, CEO Kevin M. Sheehan acquired 37,735 shares of the company's stock in a transaction on Thursday, December 12th. The shares were purchased at an average cost of $25.48 per share, with a total value of $961,487.80. Following the completion of the purchase, the chief executive officer now owns 139,011 shares of the company's stock, valued at approximately $3,542,000.28. This represents a 37.26 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Dave & Buster's Entertainment

Several large investors have recently added to or reduced their stakes in PLAY. Kimelman & Baird LLC purchased a new stake in shares of Dave & Buster's Entertainment in the second quarter worth approximately $28,000. Quarry LP purchased a new position in Dave & Buster's Entertainment during the 3rd quarter worth $47,000. Point72 Hong Kong Ltd bought a new stake in shares of Dave & Buster's Entertainment in the 3rd quarter worth $121,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Dave & Buster's Entertainment in the third quarter valued at about $144,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Dave & Buster's Entertainment in the third quarter valued at about $196,000. Institutional investors own 91.45% of the company's stock.

Dave & Buster's Entertainment Trading Down 1.0 %

The company has a debt-to-equity ratio of 6.38, a current ratio of 0.29 and a quick ratio of 0.19. The firm's fifty day moving average is $32.79 and its two-hundred day moving average is $33.98. The firm has a market capitalization of $956.03 million, a PE ratio of 12.29 and a beta of 2.17.

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.