Truist Financial Lowers Dave & Buster’s Entertainment (NASDAQ:PLAY) Price Target to $27.00

Dave & Buster’s Entertainment (NASDAQ:PLAY) had its price target cut by analysts at Truist Financial from $36.00 to $27.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the restaurant operator’s stock. Truist Financial’s target price suggests a potential upside of 14.26% from the company’s current price.

Several other research firms also recently commented on PLAY. Benchmark began coverage on shares of Dave & Buster’s Entertainment in a report on Monday, October 7th. They set a “hold” rating for the company. Gordon Haskett reissued a “hold” rating and set a $34.00 price objective (down from $40.00) on shares of Dave & Buster’s Entertainment in a report on Wednesday, December 11th. Loop Capital lowered their target price on shares of Dave & Buster’s Entertainment from $59.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. William Blair reiterated a “market perform” rating on shares of Dave & Buster’s Entertainment in a research note on Wednesday, December 11th. Finally, BMO Capital Markets reduced their target price on shares of Dave & Buster’s Entertainment from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Dave & Buster’s Entertainment currently has an average rating of “Hold” and an average price target of $52.25.

Dave & Buster’s Entertainment Stock Performance

PLAY traded down $1.44 during mid-day trading on Thursday, reaching $23.63. 229,979 shares of the company traded hands, compared to its average volume of 1,600,202. The company has a quick ratio of 0.19, a current ratio of 0.29 and a debt-to-equity ratio of 6.38. The stock has a market capitalization of $909.83 million, a P/E ratio of 11.70 and a beta of 2.17. Dave & Buster’s Entertainment has a 52-week low of $23.61 and a 52-week high of $69.82. The company’s fifty day moving average price is $33.13 and its 200-day moving average price is $34.04.

Insiders Place Their Bets

In other news, CEO Kevin M. Sheehan acquired 37,735 shares of Dave & Buster’s Entertainment stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of $25.48 per share, with a total value of $961,487.80. Following the completion of the purchase, the chief executive officer now owns 139,011 shares of the company’s stock, valued at approximately $3,542,000.28. This represents a 37.26 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dave & Buster’s Entertainment

Large investors have recently added to or reduced their stakes in the company. Eminence Capital LP lifted its position in shares of Dave & Buster’s Entertainment by 69.3% in 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 during the last quarter. Rubric Capital Management LP increased its stake 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 buying an additional 626,497 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Dave & Buster’s Entertainment by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,144,268 shares of the restaurant operator’s stock worth $45,553,000 after purchasing an additional 25,138 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Dave & Buster’s Entertainment by 0.9% in 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 during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Dave & Buster’s Entertainment by 36.2% in the 2nd quarter. Marshall Wace LLP now owns 640,096 shares of the restaurant operator’s stock worth $25,482,000 after purchasing an additional 170,286 shares during 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.