Dave & Buster’s Entertainment (NASDAQ:PLAY) Coverage Initiated at Citizens Jmp

Citizens Jmp initiated coverage on shares of Dave & Buster’s Entertainment (NASDAQ:PLAY) in a note issued to investors on Monday,Benzinga reports. The firm set a “market perform” rating on the restaurant operator’s stock.

Several other research analysts also recently commented on the company. Piper Sandler lowered their target price on Dave & Buster’s Entertainment from $22.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, April 6th. UBS Group cut their price objective on Dave & Buster’s Entertainment from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 16th. BMO Capital Markets lowered their price target on shares of Dave & Buster’s Entertainment from $24.00 to $22.00 and set an “outperform” rating on the stock in a report on Tuesday, June 16th. Zacks Research lowered shares of Dave & Buster’s Entertainment from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 2nd. Finally, Wall Street Zen lowered Dave & Buster’s Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, April 6th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Dave & Buster’s Entertainment has a consensus rating of “Hold” and an average target price of $19.33.

Dave & Buster’s Entertainment Trading Down 6.3%

PLAY opened at $11.07 on Monday. The firm has a 50 day simple moving average of $11.77 and a 200 day simple moving average of $14.47. The company has a debt-to-equity ratio of 15.01, a current ratio of 0.29 and a quick ratio of 0.20. Dave & Buster’s Entertainment has a fifty-two week low of $9.61 and a fifty-two week high of $35.53. The company has a market cap of $385.29 million, a price-to-earnings ratio of -5.93 and a beta of 1.81.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last released its earnings results on Monday, June 15th. The restaurant operator reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.38). Dave & Buster’s Entertainment had a negative return on equity of 24.19% and a negative net margin of 3.09%.The company had revenue of $559.20 million for the quarter, compared to the consensus estimate of $580.60 million. During the same quarter in the previous year, the company posted $0.76 EPS. The business’s revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that Dave & Buster’s Entertainment will post -1.02 earnings per share for the current year.

Insider Activity at Dave & Buster’s Entertainment

In other news, SVP Steve Klohn sold 6,989 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $14.69, for a total transaction of $102,668.41. Following the completion of the sale, the senior vice president directly owned 38,547 shares in the company, valued at approximately $566,255.43. This represents a 15.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.73% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC bought a new position in shares of Dave & Buster’s Entertainment during the 3rd quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd lifted its stake in Dave & Buster’s Entertainment by 616.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,942 shares of the restaurant operator’s stock worth $31,000 after purchasing an additional 1,671 shares during the last quarter. Leonteq Securities AG bought a new stake in Dave & Buster’s Entertainment during the 4th quarter valued at about $42,000. Quadrant Capital Group LLC purchased a new stake in shares of Dave & Buster’s Entertainment in the third quarter valued at approximately $104,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Dave & Buster’s Entertainment by 292.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,062 shares of the restaurant operator’s stock worth $152,000 after buying an additional 3,772 shares in the last quarter. 91.45% of the stock is owned by hedge funds and other institutional investors.

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.