Aigen Investment Management LP Takes $280,000 Position in Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY)

Key Points

• Aigen Investment Management LP made a new investment in Dave & Buster's Entertainment, Inc. by acquiring 15,919 shares valued at approximately $280,000 in the 1st quarter.
• Several hedge funds increased their holdings in Dave & Buster's, with US Bancorp DE raising its position by an impressive 442.0% during the first quarter.
• Wall Street analysts have raised their price targets for Dave & Buster's stock, with a consensus price target now at $33.83, indicating potential for growth despite recent earnings underperformance.

Aigen Investment Management LP purchased a new position in shares of Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 15,919 shares of the restaurant operator's stock, valued at approximately $280,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. US Bancorp DE raised its position in Dave & Buster's Entertainment by 442.0% during the 1st quarter. US Bancorp DE now owns 1,561 shares of the restaurant operator's stock valued at $27,000 after purchasing an additional 1,273 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Dave & Buster's Entertainment by 1,427.5% in the 1st quarter. Signaturefd LLC now owns 4,277 shares of the restaurant operator's stock valued at $75,000 after acquiring an additional 3,997 shares during the period. GAMMA Investing LLC increased its holdings in shares of Dave & Buster's Entertainment by 3,974.8% in the 1st quarter. GAMMA Investing LLC now owns 4,360 shares of the restaurant operator's stock valued at $77,000 after acquiring an additional 4,253 shares during the period. Federated Hermes Inc. purchased a new position in shares of Dave & Buster's Entertainment in the 1st quarter valued at $139,000. Finally, Headlands Technologies LLC increased its holdings in shares of Dave & Buster's Entertainment by 4,311.6% in the 1st quarter. Headlands Technologies LLC now owns 10,985 shares of the restaurant operator's stock valued at $193,000 after acquiring an additional 10,736 shares during the period. 91.45% of the stock is owned by institutional investors.

Dave & Buster's Entertainment Stock Down 1.6%

PLAY stock traded down $0.41 on Friday, hitting $25.58. 682,135 shares of the company's stock were exchanged, compared to its average volume of 858,515. Dave & Buster's Entertainment, Inc. has a 12-month low of $15.08 and a 12-month high of $43.73. The firm has a 50 day moving average price of $30.08 and a two-hundred day moving average price of $24.08. The company has a debt-to-equity ratio of 10.69, a quick ratio of 0.17 and a current ratio of 0.26. The stock has a market cap of $884.56 million, a P/E ratio of 12.07 and a beta of 2.14.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last posted its quarterly earnings results on Tuesday, June 10th. The restaurant operator reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.20). The firm had revenue of $567.70 million for the quarter, compared to analysts' expectations of $572.12 million. Dave & Buster's Entertainment had a net margin of 1.83% and a return on equity of 40.67%. The firm's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 EPS. As a group, equities research analysts expect that Dave & Buster's Entertainment, Inc. will post 2.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Loop Capital lifted their price target on Dave & Buster's Entertainment from $35.00 to $46.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Piper Sandler lifted their price target on Dave & Buster's Entertainment from $22.00 to $30.00 and gave the company a "neutral" rating in a report on Wednesday, June 11th. UBS Group lifted their price target on Dave & Buster's Entertainment from $18.00 to $29.00 and gave the company a "neutral" rating in a report on Wednesday, June 11th. Truist Financial boosted their target price on Dave & Buster's Entertainment from $22.00 to $29.00 and gave the stock a "hold" rating in a research note on Wednesday, June 11th. Finally, BMO Capital Markets boosted their target price on Dave & Buster's Entertainment from $30.00 to $35.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Dave & Buster's Entertainment has an average rating of "Hold" and an average target price of $33.83.

Insider Activity

In other news, CEO Tarun Lal purchased 8,060 shares of the company's stock in a transaction on Tuesday, July 22nd. The shares were acquired at an average price of $31.26 per share, for a total transaction of $251,955.60. Following the purchase, the chief executive officer owned 8,060 shares in the company, valued at $251,955.60. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John Mulleady sold 5,931 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $32.79, for a total value of $194,477.49. Following the sale, the senior vice president owned 42,550 shares in the company, valued at approximately $1,395,214.50. The trade was a 12.23% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by insiders.

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.