Published On: Thu, Sep 8th, 2016

Dave & Buster’s Entertainment Inc. (PLAY) Downgraded to “Sell” at Zacks Investment Research

Dave & Buster’s Entertainment Inc. (NASDAQ:PLAY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.
According to Zacks, “Dave & Buster’s Entertainment Inc. is an owner and operator of venues in North America that combine dining and entertainment. The Company offers its customers the opportunity to Eat Drink Play and Watch in one location. Eat and Drink is offered through a full menu of Fun American New Gourmet entrees and appetizers and a selection of non-alcoholic and alcoholic beverages. The Company’s Play and Watch offerings provide an assortment of entertainment attractions centered on playing games and watching live sports and other televised events. Dave & Buster’s Entertainment Inc. is headquartered in Dallas, Texas. “
In other Dave & Buster’s Entertainment news, CEO Stephen M. King sold 30,000 shares of Dave & Buster’s Entertainment stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $46.27, for a total value of $1,388,100.00. Following the sale, the chief executive officer now owns 1 shares of the company’s stock, valued at approximately $46.27. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Dolf A. Berle sold 5,250 shares of Dave & Buster’s Entertainment stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $43.57, for a total value of $228,742.50. Following the completion of the sale, the chief operating officer now directly owns 5,251 shares in the company, valued at approximately $228,786.07. The disclosure for this sale can be found here. 5.60% of the stock is owned by company insiders.

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A number of other research analysts have also recently weighed in on the company. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $51.00 price objective on shares of Dave & Buster’s Entertainment in a research report on Wednesday. Jefferies Group reaffirmed a “buy” rating on shares of Dave & Buster’s Entertainment in a research report on Wednesday. BMO Capital Markets reaffirmed a “buy” rating and set a $51.00 price objective on shares of Dave & Buster’s Entertainment in a research report on Thursday, September 1st. Canaccord Genuity assumed coverage on Dave & Buster’s Entertainment in a research report on Monday, August 22nd. They set a “buy” rating and a $52.00 price objective on the stock. Finally, Stifel Nicolaus cut Dave & Buster’s Entertainment from a “buy” rating to a “hold” rating and lowered their price objective for the company from $50.00 to $45.00 in a research report on Tuesday, July 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $47.64.
Other hedge funds have recently added to or reduced their stakes in the company. Shellback Capital LP increased its stake in Dave & Buster’s Entertainment by 20.1% in the fourth quarter. Shellback Capital LP now owns 660,800 shares of the company’s stock worth $27,582,000 after buying an additional 110,800 shares during the last quarter. Geode Capital Management LLC increased its stake in Dave & Buster’s Entertainment by 9.3% in the first quarter. Geode Capital Management LLC now owns 185,054 shares of the company’s stock worth $7,176,000 after buying an additional 15,715 shares during the last quarter. Hancock Holding Co. increased its stake in Dave & Buster’s Entertainment by 0.8% in the first quarter. Hancock Holding Co. now owns 241,400 shares of the company’s stock worth $9,361,000 after buying an additional 1,840 shares during the last quarter. BlackRock Group LTD increased its stake in Dave & Buster’s Entertainment by 69.8% in the first quarter. BlackRock Group LTD now owns 31,427 shares of the company’s stock worth $1,218,000 after buying an additional 12,918 shares during the last quarter. Finally, State Street Corp increased its stake in Dave & Buster’s Entertainment by 5.6% in the first quarter. State Street Corp now owns 401,341 shares of the company’s stock worth $15,567,000 after buying an additional 21,454 shares during the last quarter.
Shares of Dave & Buster’s Entertainment (NASDAQ:PLAY) opened at 44.93 on Thursday. The stock has a market cap of $1.88 billion and a price-to-earnings ratio of 27.18. The stock’s 50 day moving average price is $45.02 and its 200-day moving average price is $42.06. Dave & Buster’s Entertainment has a 1-year low of $29.54 and a 1-year high of $49.90.
Dave & Buster’s Entertainment (NASDAQ:PLAY) last posted its quarterly earnings data on Tuesday, September 6th. The company reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.06. The company had revenue of $244.30 million for the quarter. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 earnings per share. On average, equities research analysts forecast that Dave & Buster’s Entertainment will post $1.97 earnings per share for the current year.

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