Dave & Buster’s Entertainment (NASDAQ:PLAY) Trading 13.1% Higher – Here’s What Happened

Shares of Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) rose 13.1% during mid-day trading on Tuesday . The stock traded as high as $15.42 and last traded at $15.6710. Approximately 259,943 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 1,338,126 shares. The stock had previously closed at $13.86.

Analyst Upgrades and Downgrades

PLAY has been the subject of a number of research analyst reports. Truist Financial lowered their target price on Dave & Buster’s Entertainment from $27.00 to $22.00 and set a “hold” rating for the company in a report on Tuesday, September 16th. Piper Sandler dropped their price objective on shares of Dave & Buster’s Entertainment from $30.00 to $26.00 and set a “neutral” rating for the company in a report on Tuesday, September 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Dave & Buster’s Entertainment in a research note on Wednesday, October 8th. Zacks Research lowered shares of Dave & Buster’s Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, September 15th. Finally, UBS Group decreased their price target on shares of Dave & Buster’s Entertainment from $29.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday, September 16th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $31.33.

Dave & Buster’s Entertainment Stock Performance

The company has a market capitalization of $603.21 million, a PE ratio of 51.18 and a beta of 2.02. The stock’s 50-day simple moving average is $16.76 and its 200 day simple moving average is $23.30. The company has a debt-to-equity ratio of 9.32, a quick ratio of 0.22 and a current ratio of 0.33.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last posted its earnings results on Monday, September 15th. The restaurant operator reported $0.40 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.52). Dave & Buster’s Entertainment had a net margin of 0.46% and a return on equity of 29.24%. The business had revenue of $557.40 million during the quarter, compared to analysts’ expectations of $565.43 million. During the same period last year, the company earned $0.99 EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. As a group, research analysts expect that Dave & Buster’s Entertainment, Inc. will post 2.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dave & Buster’s Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nomura Holdings Inc. boosted its stake in Dave & Buster’s Entertainment by 532.9% in the third quarter. Nomura Holdings Inc. now owns 2,411,191 shares of the restaurant operator’s stock valued at $43,787,000 after acquiring an additional 2,030,186 shares in the last quarter. Clearline Capital LP lifted its holdings in shares of Dave & Buster’s Entertainment by 20.4% in the 3rd quarter. Clearline Capital LP now owns 1,619,964 shares of the restaurant operator’s stock valued at $29,419,000 after purchasing an additional 274,541 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Dave & Buster’s Entertainment by 99.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 999,554 shares of the restaurant operator’s stock valued at $30,067,000 after purchasing an additional 499,412 shares during the period. Boston Partners grew its stake in Dave & Buster’s Entertainment by 1.9% during the 1st quarter. Boston Partners now owns 578,639 shares of the restaurant operator’s stock worth $10,169,000 after buying an additional 10,905 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Dave & Buster’s Entertainment by 9.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 516,835 shares of the restaurant operator’s stock worth $9,081,000 after buying an additional 44,911 shares during the last quarter. 91.45% of the stock is currently owned by institutional investors and hedge funds.

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.