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

Dave & Buster's Entertainment Inc (NASDAQ:PLAY - Get Free Report)'s stock price 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.

Several other analysts have also recently weighed in on PLAY. William Blair reissued a "market perform" rating on shares of Dave & Buster's Entertainment in a research note on Wednesday, December 11th. Gordon Haskett reissued a "hold" rating and issued a $34.00 price target (down previously from $40.00) on shares of Dave & Buster's Entertainment in a research note 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. Finally, BMO Capital Markets dropped 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 report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Dave & Buster's Entertainment presently has a consensus rating of "Hold" and an average target price of $40.60.

Hedge Funds Weigh In On Dave & Buster's Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of PLAY. Charles Schwab Investment Management Inc. boosted its stake in Dave & Buster's Entertainment by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 462,191 shares of the restaurant operator's stock worth $15,738,000 after acquiring an additional 15,015 shares in the last quarter. Verition Fund Management LLC acquired a new stake in shares of Dave & Buster's Entertainment in the 3rd quarter valued at about $1,226,000. Centiva Capital LP acquired a new position in Dave & Buster's Entertainment during the third quarter worth $328,000. Quarry LP bought a new position in Dave & Buster's Entertainment in the 3rd quarter valued at about $47,000. Finally, XTX Topco Ltd boosted its position in shares of Dave & Buster's Entertainment by 171.5% during the third quarter. XTX Topco Ltd now owns 53,803 shares of the restaurant operator's stock valued at $1,832,000 after buying an additional 33,988 shares during the last quarter. 91.45% of the stock is currently owned by institutional investors.

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Dave & Buster's Entertainment Stock Performance

The company's fifty day moving average price is $22.02 and its 200 day moving average price is $29.26. The company has a market cap of $615.86 million, a PE ratio of 7.99 and a beta of 1.86. The company has a debt-to-equity ratio of 6.38, a current ratio of 0.29 and a quick ratio of 0.19.

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.