Dave & Buster’s Entertainment (NASDAQ:PLAY) Stock Price Down 5.8% – Time to Sell?

Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) shares were down 5.8% on Wednesday . The company traded as low as $27.38 and last traded at $27.38. Approximately 930,293 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 1,346,755 shares. The stock had previously closed at $29.06.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Benchmark initiated coverage on shares of Dave & Buster’s Entertainment in a research report on Monday, October 7th. They set a “hold” rating for the company. Gordon Haskett reaffirmed a “hold” rating and set a $34.00 price target (down from $40.00) on shares of Dave & Buster’s Entertainment in a report on Wednesday, December 11th. Truist Financial reiterated a “hold” rating and issued a $36.00 price objective (down previously from $56.00) on shares of Dave & Buster’s Entertainment in a report on Wednesday, December 11th. BMO Capital Markets cut their target price on Dave & Buster’s Entertainment from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Finally, William Blair reaffirmed a “market perform” rating on shares of Dave & Buster’s Entertainment in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $53.38.

Dave & Buster’s Entertainment Stock Performance

The company has a debt-to-equity ratio of 6.38, a current ratio of 0.29 and a quick ratio of 0.14. The company has a market cap of $1.05 billion, a PE ratio of 13.56 and a beta of 2.13. The stock has a 50 day simple moving average of $35.94 and a two-hundred day simple moving average of $36.18.

Insider Buying and Selling

In related news, CEO Christopher Daniel Morris acquired 14,912 shares of Dave & Buster’s Entertainment stock in a transaction on Monday, October 7th. The stock was purchased at an average cost of $33.67 per share, with a total value of $502,087.04. Following the purchase, the chief executive officer now directly owns 83,847 shares in the company, valued at approximately $2,823,128.49. The trade was a 21.63 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin M. Sheehan bought 19,025 shares of the stock in a transaction on Thursday, December 19th. The stock was bought at an average price of $26.44 per share, for a total transaction of $503,021.00. Following the completion of the purchase, the chief executive officer now directly owns 69,025 shares in the company, valued at approximately $1,825,021. The trade was a 38.05 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 71,672 shares of company stock worth $1,966,596 in the last 90 days. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Dave & Buster’s Entertainment

Institutional investors have recently bought and sold shares of the company. Eminence Capital LP raised its stake in shares of Dave & Buster’s Entertainment by 69.3% during the 2nd quarter. Eminence Capital LP now owns 3,768,476 shares of the restaurant operator’s stock worth $150,023,000 after buying an additional 1,542,154 shares in the last quarter. American Century Companies Inc. grew its holdings in Dave & Buster’s Entertainment by 8.2% during the second quarter. American Century Companies Inc. now owns 1,266,280 shares of the restaurant operator’s stock worth $50,411,000 after acquiring an additional 95,499 shares during the period. Rubric Capital Management LP raised its position in Dave & Buster’s Entertainment by 104.7% in the second quarter. Rubric Capital Management LP now owns 1,225,000 shares of the restaurant operator’s stock worth $48,767,000 after acquiring an additional 626,497 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Dave & Buster’s Entertainment by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,144,268 shares of the restaurant operator’s stock valued at $45,553,000 after acquiring an additional 25,138 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Dave & Buster’s Entertainment by 0.9% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 793,767 shares of the restaurant operator’s stock worth $31,600,000 after purchasing an additional 6,713 shares in the last quarter. 91.45% of the stock is owned by institutional investors and hedge funds.

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.