Dave & Buster's Entertainment (NASDAQ:PLAY) Stock Price Passes Below 200-Day Moving Average - Here's What Happened

Dave & Buster's Entertainment Inc (NASDAQ:PLAY - Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $31.93 and traded as low as $23.86. Dave & Buster's Entertainment shares last traded at $24.13, with a volume of 1,203,677 shares changing hands.

Wall Street Analysts Forecast Growth

PLAY has been the topic of several analyst reports. Gordon Haskett reissued a "hold" rating and set a $34.00 target price (down from $40.00) on shares of Dave & Buster's Entertainment in a report on Wednesday, December 11th. Loop Capital cut 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 research report on Thursday, December 12th. William Blair reissued a "market perform" rating on shares of Dave & Buster's Entertainment in a 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 for the company in a report on Wednesday, December 11th. Finally, Truist Financial reduced their price target on shares of Dave & Buster's Entertainment from $36.00 to $27.00 and set a "hold" rating on the stock in a research report on Thursday, January 16th. 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, the company currently has a consensus rating of "Hold" and an average price target of $51.43.

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Dave & Buster's Entertainment Stock Performance

The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.19 and a current ratio of 0.29. The firm has a market cap of $894.08 million, a P/E ratio of 11.50 and a beta of 2.17. The company's 50 day moving average is $27.02 and its 200 day moving average is $31.76.

Insider Transactions at Dave & Buster's Entertainment

In other news, CEO Kevin M. Sheehan acquired 37,735 shares of Dave & Buster's Entertainment stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of $25.48 per share, for a total transaction of $961,487.80. Following the transaction, the chief executive officer now directly owns 139,011 shares of the company's stock, valued at approximately $3,542,000.28. The trade was a 37.26 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.60% of the company's stock.

Institutional Trading of Dave & Buster's Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Eminence Capital LP increased its stake in shares of Dave & Buster's Entertainment by 3.6% in the fourth quarter. Eminence Capital LP now owns 3,845,454 shares of the restaurant operator's stock valued at $112,249,000 after buying an additional 135,095 shares during the period. Patient Capital Management LLC boosted its holdings in Dave & Buster's Entertainment by 36.6% in 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 acquiring an additional 476,662 shares during the last quarter. Clearline Capital LP increased its position in 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 purchasing an additional 1,084,890 shares during the period. NewEdge Wealth LLC raised its holdings in Dave & Buster's Entertainment by 13.4% during the 4th quarter. NewEdge Wealth LLC now owns 727,491 shares of the restaurant operator's stock worth $21,235,000 after purchasing an additional 85,820 shares during the last quarter. Finally, Boston Partners boosted its stake in shares of Dave & Buster's Entertainment by 132.5% in the 4th quarter. Boston Partners now owns 567,734 shares of the restaurant operator's stock valued at $16,563,000 after purchasing an additional 323,595 shares during the last quarter. 91.45% of the stock is currently owned by institutional investors.

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.