Dave & Buster’s Entertainment (NASDAQ:PLAY) Rating Lowered to Strong Sell at Wall Street Zen

Dave & Buster’s Entertainment (NASDAQ:PLAY) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “strong sell” rating in a report issued on Monday.

PLAY has been the subject of a number of other research reports. Zacks Research raised Dave & Buster’s Entertainment from a “strong sell” rating to a “hold” rating in a report on Thursday, December 11th. UBS Group cut their price target on Dave & Buster’s Entertainment from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Dave & Buster’s Entertainment in a report on Wednesday, January 21st. Truist Financial cut their price target on Dave & Buster’s Entertainment from $23.00 to $18.00 and set a “hold” rating for the company in a report on Thursday, January 8th. Finally, Benchmark raised Dave & Buster’s Entertainment from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Friday, January 16th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $21.83.

Dave & Buster’s Entertainment Price Performance

Shares of Dave & Buster’s Entertainment stock opened at $12.16 on Monday. The business has a 50 day simple moving average of $14.71 and a two-hundred day simple moving average of $16.38. Dave & Buster’s Entertainment has a 12 month low of $9.61 and a 12 month high of $35.53. The stock has a market capitalization of $422.43 million, a P/E ratio of -8.50 and a beta of 1.83. The company has a debt-to-equity ratio of 16.61, a current ratio of 0.29 and a quick ratio of 0.22.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last announced its earnings results on Tuesday, March 31st. The restaurant operator reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.74). Dave & Buster’s Entertainment had a negative net margin of 2.32% and a negative return on equity of 7.93%. The firm had revenue of $529.60 million for the quarter, compared to analyst estimates of $556.56 million. During the same period in the previous year, the company earned $0.69 EPS. Dave & Buster’s Entertainment’s revenue was down .9% compared to the same quarter last year. As a group, analysts predict that Dave & Buster’s Entertainment will post 2.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Dave & Buster’s Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd increased its holdings in shares of Dave & Buster’s Entertainment by 1,547.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,464 shares of the restaurant operator’s stock valued at $72,000 after purchasing an additional 4,193 shares during the last quarter. Virtu Financial LLC purchased a new position in Dave & Buster’s Entertainment in the fourth quarter worth approximately $360,000. Invesco Ltd. grew its position in Dave & Buster’s Entertainment by 31.2% in the fourth quarter. Invesco Ltd. now owns 357,133 shares of the restaurant operator’s stock worth $5,789,000 after acquiring an additional 84,951 shares during the period. Saba Capital Management L.P. grew its position in Dave & Buster’s Entertainment by 236.1% in the fourth quarter. Saba Capital Management L.P. now owns 320,309 shares of the restaurant operator’s stock worth $5,192,000 after acquiring an additional 225,000 shares during the period. Finally, Caption Management LLC grew its position in Dave & Buster’s Entertainment by 33.6% in the fourth quarter. Caption Management LLC now owns 18,906 shares of the restaurant operator’s stock worth $306,000 after acquiring an additional 4,753 shares during the period. Institutional investors and hedge funds own 91.45% of the company’s stock.

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.