Dave & Buster’s Entertainment (NASDAQ:PLAY) Shares Pass Above Fifty Day Moving Average – Here’s Why

Shares of Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $11.80 and traded as high as $12.36. Dave & Buster’s Entertainment shares last traded at $11.30, with a volume of 1,159,246 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Piper Sandler reduced their price target on shares of Dave & Buster’s Entertainment from $22.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, April 6th. Zacks Research lowered shares of Dave & Buster’s Entertainment from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of Dave & Buster’s Entertainment in a report on Monday, April 20th. UBS Group decreased their target price on Dave & Buster’s Entertainment from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, June 16th. Finally, BMO Capital Markets lowered their target price on Dave & Buster’s Entertainment from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Dave & Buster’s Entertainment currently has a consensus rating of “Hold” and a consensus price target of $19.33.

Dave & Buster’s Entertainment Stock Up 4.6%

The firm has a market cap of $411.22 million, a price-to-earnings ratio of -6.25 and a beta of 1.81. The stock’s 50 day moving average is $11.77 and its 200 day moving average is $14.49. The company has a quick ratio of 0.20, a current ratio of 0.29 and a debt-to-equity ratio of 15.01.

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 analysts’ consensus estimates of $0.60 by ($0.38). The firm had revenue of $559.20 million for the quarter, compared to analyst estimates of $580.60 million. Dave & Buster’s Entertainment had a negative return on equity of 24.19% and a negative net margin of 3.09%.Dave & Buster’s Entertainment’s revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 earnings per share. Analysts forecast that Dave & Buster’s Entertainment, Inc. will post -1.02 EPS for the current year.

Insider Activity

In other news, SVP Steve Klohn sold 6,989 shares of the business’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $14.69, for a total transaction of $102,668.41. Following the sale, the senior vice president directly owned 38,547 shares of the company’s stock, valued at $566,255.43. The trade was a 15.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.73% of the stock is owned by insiders.

Hedge Funds Weigh In On Dave & Buster’s Entertainment

Institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC acquired a new stake in Dave & Buster’s Entertainment during the 3rd quarter worth about $27,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of 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 buying an additional 1,671 shares during the period. Leonteq Securities AG purchased a new position in shares of Dave & Buster’s Entertainment in the fourth quarter worth approximately $42,000. Quadrant Capital Group LLC purchased a new position in shares of Dave & Buster’s Entertainment in the third quarter worth approximately $104,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Dave & Buster’s Entertainment by 292.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,062 shares of the restaurant operator’s stock valued at $152,000 after acquiring an additional 3,772 shares during the period. 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.