Dave & Buster's Entertainment (NASDAQ:PLAY) Trading Down 8.9% - Here's What Happened

Dave & Buster's Entertainment Inc (NASDAQ:PLAY - Get Free Report) shares fell 8.9% on Tuesday . The stock traded as low as $19.67 and last traded at $18.95. 101,785 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 1,444,826 shares. The stock had previously closed at $20.81.

Analysts Set New Price Targets

Several equities research analysts have commented on PLAY shares. Truist Financial dropped their price target on Dave & Buster's Entertainment from $36.00 to $27.00 and set a "hold" rating for the company in a research note on Thursday, January 16th. Gordon Haskett reissued a "hold" rating and set a $34.00 target price (down previously from $40.00) on shares of Dave & Buster's Entertainment in a research report on Wednesday, December 11th. Loop Capital reduced their price target on shares of Dave & Buster's Entertainment from $59.00 to $45.00 and set a "buy" rating on the stock in a research report on Thursday, December 12th. BMO Capital Markets dropped their price objective on shares of Dave & Buster's Entertainment from $51.00 to $47.00 and set an "outperform" rating for the company in a research report on Wednesday, December 11th. Finally, William Blair restated a "market perform" rating on shares of Dave & Buster's Entertainment in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Dave & Buster's Entertainment currently has an average rating of "Hold" and an average price target of $46.67.

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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 50 day moving average price of $25.42 and a 200-day moving average price of $30.95. The company has a market cap of $716.00 million, a P/E ratio of 9.23 and a beta of 2.17.

Insider Transactions at Dave & Buster's Entertainment

In other news, CEO Kevin M. Sheehan acquired 37,735 shares of the stock in a transaction dated Thursday, December 12th. The shares were acquired at an average cost of $25.48 per share, for a total transaction of $961,487.80. Following the completion of the transaction, the chief executive officer now owns 139,011 shares in the company, valued at approximately $3,542,000.28. This trade represents a 37.26 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On Dave & Buster's Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of PLAY. Clearline Capital LP boosted its position in shares of 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 acquiring an additional 1,084,890 shares in the last quarter. Patient Capital Management LLC raised its stake in shares of 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. SG Americas Securities LLC lifted its holdings in Dave & Buster's Entertainment by 1,100.8% during the 4th quarter. SG Americas Securities LLC now owns 424,967 shares of the restaurant operator's stock worth $12,405,000 after buying an additional 389,577 shares in the last quarter. Boston Partners raised its position in shares of Dave & Buster's Entertainment by 132.5% during the 4th quarter. Boston Partners now owns 567,734 shares of the restaurant operator's stock valued at $16,563,000 after acquiring an additional 323,595 shares during the last quarter. Finally, Woodline Partners LP bought a new position in Dave & Buster's Entertainment during the fourth quarter worth about $6,702,000. Institutional investors 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.

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