Dave & Buster’s Entertainment (NASDAQ:PLAY) Shares Down 6.2% – Here’s What Happened

Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) fell 6.2% on Monday . The company traded as low as $19.35 and last traded at $19.26. 50,370 shares traded hands during trading, a decline of 95% from the average session volume of 1,035,180 shares. The stock had previously closed at $20.54.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PLAY shares. Truist Financial dropped their price target on Dave & Buster’s Entertainment from $23.00 to $18.00 and set a “hold” rating on the stock in a research report on Thursday, January 8th. Loop Capital set a $20.00 target price on shares of Dave & Buster’s Entertainment in a report on Wednesday, December 10th. BMO Capital Markets reduced their price target on shares of Dave & Buster’s Entertainment from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, December 10th. UBS Group dropped their price objective on shares of Dave & Buster’s Entertainment from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 6th. Finally, Benchmark raised shares of Dave & Buster’s Entertainment from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Friday, January 16th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $23.83.

Dave & Buster’s Entertainment Price Performance

The stock has a fifty day moving average of $17.42 and a 200 day moving average of $20.62. The stock has a market cap of $658.92 million, a price-to-earnings ratio of -474.88 and a beta of 1.74. The company has a debt-to-equity ratio of 11.87, a current ratio of 0.32 and a quick ratio of 0.22.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last issued its earnings results on Tuesday, December 9th. The restaurant operator reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.06). The business had revenue of $448.20 million for the quarter, compared to analysts’ expectations of $460.66 million. Dave & Buster’s Entertainment had a return on equity of 19.13% and a net margin of 0.01%.The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the business earned ($0.45) EPS. On average, analysts expect that Dave & Buster’s Entertainment, Inc. will post 2.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Dave & Buster’s Entertainment

A number of institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. raised its stake in shares of Dave & Buster’s Entertainment by 0.5% during the 2nd quarter. Raymond James Financial Inc. now owns 121,847 shares of the restaurant operator’s stock worth $3,665,000 after buying an additional 637 shares during the last quarter. Farther Finance Advisors LLC acquired a new stake in Dave & Buster’s Entertainment in the 2nd quarter valued at about $37,000. Advisory Services Network LLC purchased a new position in Dave & Buster’s Entertainment during the 3rd quarter valued at about $27,000. Ausdal Financial Partners Inc. raised its position in Dave & Buster’s Entertainment by 9.0% during the second quarter. Ausdal Financial Partners Inc. now owns 25,220 shares of the restaurant operator’s stock worth $759,000 after acquiring an additional 2,078 shares during the last quarter. Finally, Cerity Partners LLC raised its position in Dave & Buster’s Entertainment by 13.2% during the second quarter. Cerity Partners LLC now owns 22,654 shares of the restaurant operator’s stock worth $681,000 after acquiring an additional 2,644 shares during the last quarter. 91.45% of the stock is currently owned by institutional investors and hedge funds.

About Dave & Buster’s Entertainment

Dave & Buster’s Entertainment, Inc operates a chain of combined restaurant and entertainment venues designed to appeal to families, young adults and corporate groups. Each location features a full-service restaurant and bar alongside an arcade gaming area with ticket-based redemption, virtual reality experiences and skill-based games. Many venues also include multiple large-screen televisions and a sports bar atmosphere, catering to fans who wish to watch live sporting events in a social setting.

The company was founded in 1982 by David Corriveau and James “Buster” Corley, opening its first location in Dallas, Texas.