Dave & Buster’s Entertainment (NASDAQ:PLAY) Stock Price Passes Above 50-Day Moving Average – Time to Sell?

Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY)’s stock price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $11.91 and traded as high as $13.68. Dave & Buster’s Entertainment shares last traded at $13.15, with a volume of 2,477,644 shares.

Analysts Set New Price Targets

PLAY has been the subject of several analyst reports. Wall Street Zen lowered Dave & Buster’s Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, April 6th. Weiss Ratings restated a “sell (d)” rating on shares of Dave & Buster’s Entertainment in a research note on Monday, April 20th. Piper Sandler reduced their price objective on Dave & Buster’s Entertainment from $22.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, April 6th. Finally, Zacks Research downgraded shares of Dave & Buster’s Entertainment from a “hold” rating to a “strong sell” rating in a report on Thursday, April 2nd. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $21.83.

Dave & Buster’s Entertainment Price Performance

The company has a current ratio of 0.29, a quick ratio of 0.19 and a debt-to-equity ratio of 16.61. The firm has a market cap of $456.83 million, a PE ratio of -9.20 and a beta of 1.78. The stock has a 50 day simple moving average of $11.91 and a 200-day simple moving average of $15.03.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last issued its quarterly earnings results on Tuesday, March 31st. The restaurant operator reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.74). Dave & Buster’s Entertainment had a negative return on equity of 7.93% and a negative net margin of 2.32%.The business had revenue of $529.60 million during the quarter, compared to analysts’ expectations of $556.56 million. During the same quarter in the previous year, the company posted $0.69 EPS. The company’s quarterly revenue was down .9% on a year-over-year basis. Equities analysts anticipate that Dave & Buster’s Entertainment, Inc. will post -0.86 earnings per share for the current fiscal year.

Insider Transactions at Dave & Buster’s Entertainment

In other Dave & Buster’s Entertainment news, SVP Steve Klohn sold 6,989 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $14.69, for a total transaction of $102,668.41. Following the completion of the transaction, the senior vice president owned 38,547 shares of the company’s stock, valued at $566,255.43. This represents a 15.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.73% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC bought a new position in shares of Dave & Buster’s Entertainment during the 3rd quarter valued at about $27,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Dave & Buster’s Entertainment by 616.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,942 shares of the restaurant operator’s stock valued at $31,000 after purchasing an additional 1,671 shares during the last quarter. Leonteq Securities AG bought a new position in shares of Dave & Buster’s Entertainment during the 4th quarter valued at about $42,000. Tower Research Capital LLC TRC boosted its holdings in shares of Dave & Buster’s Entertainment by 292.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,062 shares of the restaurant operator’s stock valued at $152,000 after purchasing an additional 3,772 shares during the last quarter. Finally, Quadrant Capital Group LLC bought a new position in shares of Dave & Buster’s Entertainment during the 3rd quarter valued at about $104,000. Institutional investors 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.