Dave & Buster’s Entertainment (NASDAQ:PLAY) Price Target Lowered to $56.00 at Truist Financial

Dave & Buster’s Entertainment (NASDAQ:PLAY) had its price objective reduced by Truist Financial from $59.00 to $56.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

A number of other research analysts also recently commented on PLAY. StockNews.com downgraded Dave & Buster’s Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. Benchmark began coverage on shares of Dave & Buster’s Entertainment in a research note on Monday, October 7th. They issued a “hold” rating for the company. BMO Capital Markets decreased their target price on shares of Dave & Buster’s Entertainment from $65.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 11th. Finally, Loop Capital decreased their price objective on Dave & Buster’s Entertainment from $63.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Dave & Buster’s Entertainment presently has a consensus rating of “Hold” and an average price target of $61.57.

Dave & Buster’s Entertainment Trading Up 4.3 %

Shares of PLAY stock opened at $37.62 on Tuesday. The company has a debt-to-equity ratio of 4.54, a quick ratio of 0.14 and a current ratio of 0.24. The stock has a fifty day simple moving average of $36.00 and a two-hundred day simple moving average of $38.10. The firm has a market capitalization of $1.48 billion, a PE ratio of 13.73 and a beta of 2.13. Dave & Buster’s Entertainment has a 52-week low of $29.31 and a 52-week high of $69.82.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last issued its earnings results on Tuesday, September 10th. The restaurant operator reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.28. The firm had revenue of $557.10 million during the quarter, compared to analyst estimates of $560.65 million. Dave & Buster’s Entertainment had a net margin of 5.10% and a return on equity of 51.75%. Dave & Buster’s Entertainment’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.94 earnings per share. On average, analysts predict that Dave & Buster’s Entertainment will post 2.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Christopher Daniel Morris purchased 14,912 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were purchased at an average cost of $33.67 per share, for a total transaction of $502,087.04. Following the completion of the acquisition, the chief executive officer now owns 83,847 shares in the company, valued at approximately $2,823,128.49. This trade represents a 21.63 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dave & Buster’s Entertainment

A number of hedge funds have recently added to or reduced their stakes in the stock. Eminence Capital LP raised its stake in shares of Dave & Buster’s Entertainment by 69.3% during the second quarter. Eminence Capital LP now owns 3,768,476 shares of the restaurant operator’s stock valued at $150,023,000 after acquiring an additional 1,542,154 shares in the last quarter. Rubric Capital Management LP raised its position in Dave & Buster’s Entertainment by 104.7% during the 2nd quarter. Rubric Capital Management LP now owns 1,225,000 shares of the restaurant operator’s stock valued at $48,767,000 after purchasing an additional 626,497 shares in the last quarter. Sea Cliff Partners Management LP lifted its holdings in shares of Dave & Buster’s Entertainment by 90.8% in the 2nd quarter. Sea Cliff Partners Management LP now owns 515,043 shares of the restaurant operator’s stock worth $20,504,000 after buying an additional 245,043 shares during the period. Marshall Wace LLP grew its position in shares of Dave & Buster’s Entertainment by 36.2% during the 2nd quarter. Marshall Wace LLP now owns 640,096 shares of the restaurant operator’s stock worth $25,482,000 after buying an additional 170,286 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new position in shares of Dave & Buster’s Entertainment during the second quarter valued at $5,191,000. 91.45% of the stock is currently owned by institutional investors.

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.