Dave & Buster’s Entertainment (NASDAQ:PLAY) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY)’s share price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $11.91 and traded as high as $13.68. Dave & Buster’s Entertainment shares last traded at $13.15, with a volume of 2,477,644 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Zacks Research cut shares of Dave & Buster’s Entertainment from a “hold” rating to a “strong sell” rating in a report on Thursday, April 2nd. Wall Street Zen cut shares of Dave & Buster’s Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, April 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Dave & Buster’s Entertainment in a report on Monday, April 20th. Finally, Piper Sandler cut their target price on shares of Dave & Buster’s Entertainment from $22.00 to $14.00 and set a “neutral” rating for the company in a research report on Monday, April 6th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $21.83.

Dave & Buster’s Entertainment Stock Down 1.0%

The firm’s 50-day moving average is $11.91 and its 200-day moving average is $15.02. The company has a debt-to-equity ratio of 16.61, a current ratio of 0.29 and a quick ratio of 0.19.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last announced its earnings results on Tuesday, March 31st. The restaurant operator reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.74). Dave & Buster’s Entertainment had a negative return on equity of 7.93% and a negative net margin of 2.32%.The company had revenue of $529.60 million during the quarter, compared to analysts’ expectations of $556.56 million. During the same quarter last year, the firm posted $0.69 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. Sell-side analysts predict that Dave & Buster’s Entertainment, Inc. will post -0.86 EPS for the current year.

Insiders Place Their Bets

In other Dave & Buster’s Entertainment news, SVP Steve Klohn sold 6,989 shares of the company’s 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 $566,255.43. This represents a 15.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.73% of the stock is owned by corporate insiders.

Institutional Trading of Dave & Buster’s Entertainment

A number of institutional investors have recently modified their holdings of PLAY. Quantinno Capital Management LP lifted its holdings in Dave & Buster’s Entertainment by 519.0% in the first quarter. Quantinno Capital Management LP now owns 69,992 shares of the restaurant operator’s stock worth $758,000 after buying an additional 58,685 shares during the period. Saba Capital Management L.P. lifted its holdings in Dave & Buster’s Entertainment by 19.4% in the first quarter. Saba Capital Management L.P. now owns 382,606 shares of the restaurant operator’s stock worth $4,144,000 after buying an additional 62,297 shares during the period. Weiss Asset Management LP purchased a new stake in Dave & Buster’s Entertainment in the first quarter worth about $1,119,000. Arrowstreet Capital Limited Partnership lifted its holdings in Dave & Buster’s Entertainment by 44.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,509,752 shares of the restaurant operator’s stock worth $16,351,000 after buying an additional 468,174 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Dave & Buster’s Entertainment by 20.5% in the first quarter. First Trust Advisors LP now owns 90,649 shares of the restaurant operator’s stock worth $982,000 after buying an additional 15,424 shares during the period. 91.45% of the stock is currently 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.