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

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

Wall Street Analyst Weigh In

PLAY has been the subject of a number of recent analyst reports. Truist Financial dropped their price target on Dave & Buster’s Entertainment from $23.00 to $18.00 and set a “hold” rating for the company in a research report on Thursday, January 8th. Benchmark upgraded shares of Dave & Buster’s Entertainment from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Friday, January 16th. UBS Group cut their price target on shares of Dave & Buster’s Entertainment from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, January 6th. Loop Capital set a $20.00 price objective on shares of Dave & Buster’s Entertainment in a research report on Wednesday, December 10th. Finally, Zacks Research raised shares of Dave & Buster’s Entertainment from a “strong sell” rating to a “hold” rating in a report on Thursday, December 11th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $23.83.

Dave & Buster’s Entertainment Stock Down 7.5%

The company has a quick ratio of 0.22, a current ratio of 0.32 and a debt-to-equity ratio of 11.87. The company has a market capitalization of $658.92 million, a P/E ratio of -474.88 and a beta of 1.74. The company has a 50-day moving average of $17.42 and a two-hundred day moving average of $20.62.

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

Institutional Trading of Dave & Buster’s Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC purchased a new position in shares of Dave & Buster’s Entertainment in the first quarter worth $430,000. Farther Finance Advisors LLC bought a new position in shares of Dave & Buster’s Entertainment during the 2nd quarter valued at about $37,000. Boyar Asset Management Inc. purchased a new position in shares of Dave & Buster’s Entertainment during the second quarter valued at about $205,000. Maryland State Retirement & Pension System bought a new stake in shares of Dave & Buster’s Entertainment in the second quarter worth about $244,000. Finally, Yousif Capital Management LLC purchased a new stake in shares of Dave & Buster’s Entertainment in the second quarter worth about $225,000. Hedge funds and other institutional investors 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.