Dave & Buster's Entertainment (NASDAQ:PLAY) Trading Up 6.6% - Time to Buy?

Dave & Buster's Entertainment Inc (NASDAQ:PLAY - Get Free Report) shares rose 6.6% during trading on Monday . The stock traded as high as $18.50 and last traded at $18.54. Approximately 536,453 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 1,461,573 shares. The stock had previously closed at $17.40.

Analysts Set New Price Targets

PLAY has been the topic of several research analyst reports. BMO Capital Markets dropped their price objective on 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. Loop Capital lowered their price target on Dave & Buster's Entertainment from $59.00 to $45.00 and set a "buy" rating on the stock 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 note on Wednesday, December 11th. Gordon Haskett reaffirmed a "hold" rating and issued a $34.00 price target (down from $40.00) on shares of Dave & Buster's Entertainment in a research note on Wednesday, December 11th. Finally, Truist Financial lowered their price target on Dave & Buster's Entertainment from $36.00 to $27.00 and set a "hold" rating on the stock in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Dave & Buster's Entertainment has an average rating of "Hold" and an average price target of $46.67.

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Dave & Buster's Entertainment Price Performance

The stock has a 50 day simple moving average of $23.63 and a two-hundred day simple moving average of $30.22. The company has a market cap of $752.73 million, a price-to-earnings ratio of 9.71 and a beta of 2.17. The company has a debt-to-equity ratio of 6.38, a current ratio of 0.29 and a quick ratio of 0.19.

Hedge Funds Weigh In On Dave & Buster's Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Clare Market Investments LLC purchased a new stake in Dave & Buster's Entertainment in the fourth quarter valued at $540,000. XTX Topco Ltd raised its position in Dave & Buster's Entertainment by 171.5% in the third quarter. XTX Topco Ltd now owns 53,803 shares of the restaurant operator's stock valued at $1,832,000 after purchasing an additional 33,988 shares during the period. Charles Schwab Investment Management Inc. raised its position in Dave & Buster's Entertainment by 3.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 462,191 shares of the restaurant operator's stock valued at $15,738,000 after purchasing an additional 15,015 shares during the period. Principal Financial Group Inc. raised its position in Dave & Buster's Entertainment by 2.3% in the fourth quarter. Principal Financial Group Inc. now owns 153,487 shares of the restaurant operator's stock valued at $4,480,000 after purchasing an additional 3,494 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in Dave & Buster's Entertainment in the fourth quarter valued at $47,000. Institutional investors and hedge funds own 91.45% of the company's stock.

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.