Dave & Buster's Entertainment (NASDAQ:PLAY) Shares Down 4% After Analyst Downgrade

Key Points

• Shares of Dave & Buster's Entertainment fell 4% after Truist Financial downgraded their price target from $29.00 to $27.00, maintaining a hold rating.
• Despite the downgrade, other analysts have raised their price targets for the stock, with Loop Capital setting a new buy rating and a target of $46.00.
• CEO Tarun Lal recently purchased 8,060 shares at an average price of $31.26, while a senior vice president sold 5,931 shares at an average price of $32.79, indicating mixed insider trading activity.

Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Get Free Report) shares fell 4% during mid-day trading on Thursday after Truist Financial lowered their price target on the stock from $29.00 to $27.00. Truist Financial currently has a hold rating on the stock. Dave & Buster's Entertainment traded as low as $24.40 and last traded at $24.43. 204,634 shares changed hands during trading, a decline of 84% from the average session volume of 1,272,343 shares. The stock had previously closed at $25.43.

Several other research firms have also commented on PLAY. Loop Capital upped their price objective on Dave & Buster's Entertainment from $35.00 to $46.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. BMO Capital Markets upped their price objective on Dave & Buster's Entertainment from $30.00 to $35.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 11th. UBS Group upped their price objective on Dave & Buster's Entertainment from $18.00 to $29.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 11th. Finally, Piper Sandler upped their price objective on Dave & Buster's Entertainment from $22.00 to $30.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 11th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Dave & Buster's Entertainment presently has an average rating of "Hold" and an average price target of $33.50.

Insider Buying and Selling

In other Dave & Buster's Entertainment news, CEO Tarun Lal bought 8,060 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The shares were purchased at an average price of $31.26 per share, for a total transaction of $251,955.60. Following the transaction, the chief executive officer directly owned 8,060 shares of the company's stock, valued at approximately $251,955.60. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP John Mulleady sold 5,931 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $32.79, for a total value of $194,477.49. Following the transaction, the senior vice president owned 42,550 shares in the company, valued at $1,395,214.50. This trade represents a 12.23% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.02% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE increased its stake in shares of Dave & Buster's Entertainment by 442.0% in the 1st quarter. US Bancorp DE now owns 1,561 shares of the restaurant operator's stock worth $27,000 after acquiring an additional 1,273 shares during the last quarter. Farther Finance Advisors LLC acquired a new stake in shares of Dave & Buster's Entertainment in the 2nd quarter worth $37,000. Signaturefd LLC increased its stake in shares of Dave & Buster's Entertainment by 1,427.5% in the 1st quarter. Signaturefd LLC now owns 4,277 shares of the restaurant operator's stock worth $75,000 after acquiring an additional 3,997 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Dave & Buster's Entertainment by 3,974.8% in the 1st quarter. GAMMA Investing LLC now owns 4,360 shares of the restaurant operator's stock worth $77,000 after acquiring an additional 4,253 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new stake in shares of Dave & Buster's Entertainment in the 1st quarter worth $139,000. Hedge funds and other institutional investors own 91.45% of the company's stock.

Dave & Buster's Entertainment Stock Down 3.9%

The firm has a market capitalization of $844.62 million, a price-to-earnings ratio of 24.09 and a beta of 2.14. The business has a 50 day simple moving average of $29.26 and a 200-day simple moving average of $23.99. The company has a debt-to-equity ratio of 10.69, a quick ratio of 0.17 and a current ratio of 0.26.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last issued its earnings results on Tuesday, June 10th. The restaurant operator reported $0.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.96 by ($0.20). The company had revenue of $567.70 million during the quarter, compared to analyst estimates of $572.12 million. Dave & Buster's Entertainment had a return on equity of 40.67% and a net margin of 1.83%.The firm's revenue was down 3.5% compared to the same quarter last year. During the same period last year, the business earned $0.99 earnings per share. On average, equities analysts expect that Dave & Buster's Entertainment, Inc. will post 2.52 EPS for the current year.

Dave & Buster's Entertainment Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.