Dave & Buster’s Entertainment (NASDAQ:PLAY) Shares Cross Above Fifty Day Moving Average – Here’s What Happened

Shares of Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $18.19 and traded as high as $19.95. Dave & Buster’s Entertainment shares last traded at $18.81, with a volume of 635,774 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PLAY shares. Benchmark raised shares of Dave & Buster’s Entertainment from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Friday, January 16th. Zacks Research upgraded shares of Dave & Buster’s Entertainment from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 11th. Truist Financial cut their price objective on Dave & Buster’s Entertainment from $23.00 to $18.00 and set a “hold” rating for the company in a research report on Thursday, January 8th. BMO Capital Markets reduced their target price on Dave & Buster’s Entertainment from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 10th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Dave & Buster’s Entertainment in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Dave & Buster’s Entertainment has a consensus rating of “Hold” and a consensus price target of $23.83.

Dave & Buster’s Entertainment Stock Down 4.9%

The firm’s 50 day moving average is $18.19 and its 200-day moving average is $20.03. The firm has a market cap of $652.33 million, a PE ratio of -470.13 and a beta of 1.78. The company has a quick ratio of 0.22, a current ratio of 0.32 and a debt-to-equity ratio of 11.87.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last issued its quarterly earnings results on Tuesday, December 9th. The restaurant operator reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.16) by ($0.06). Dave & Buster’s Entertainment had a net margin of 0.01% and a return on equity of 19.13%. The business had revenue of $448.20 million during the quarter, compared to analyst estimates of $460.66 million. During the same quarter last year, the firm posted ($0.45) earnings per share. The company’s revenue was down 1.1% on a year-over-year basis. As a group, equities research analysts expect that Dave & Buster’s Entertainment, Inc. will post 2.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dave & Buster’s Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of PLAY. Nomura Holdings Inc. boosted its stake in shares of 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 purchasing an additional 2,030,186 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in 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 buying an additional 499,412 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Dave & Buster’s Entertainment by 232.3% during the fourth quarter. SG Americas Securities LLC now owns 634,148 shares of the restaurant operator’s stock valued at $10,280,000 after acquiring an additional 443,308 shares in the last quarter. Fund 1 Investments LLC acquired a new stake in shares of Dave & Buster’s Entertainment during the third quarter valued at about $7,791,000. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of Dave & Buster’s Entertainment during the third quarter worth about $6,118,000. Institutional investors and hedge funds 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.