Dave & Buster's Entertainment, Inc. $PLAY Holdings Decreased by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its stake in Dave & Buster's Entertainment by 85%, selling 591,445 shares and ending with approximately 104,014 shares worth $1.8 million.
• Several institutional investors have notably increased their positions, including Signaturefd LLC, which raised its stake by 1,427.5% to 4,277 shares.
• Analyst ratings for Dave & Buster's show a range of target price adjustments, with Piper Sandler and UBS raising their targets to $30.00 and $29.00 respectively while maintaining a "neutral" rating.

American Century Companies Inc. lowered its stake in Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Free Report) by 85.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 104,014 shares of the restaurant operator's stock after selling 591,445 shares during the period. American Century Companies Inc. owned approximately 0.30% of Dave & Buster's Entertainment worth $1,828,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Signaturefd LLC increased its holdings in shares of Dave & Buster's Entertainment by 1,427.5% in the first quarter. Signaturefd LLC now owns 4,277 shares of the restaurant operator's stock valued at $75,000 after purchasing an additional 3,997 shares during the period. M.E. Allison & CO. Inc. acquired a new position in shares of Dave & Buster's Entertainment in the first quarter valued at approximately $1,542,000. GAMMA Investing LLC grew its holdings in Dave & Buster's Entertainment by 71,493.5% during the first quarter. GAMMA Investing LLC now owns 76,605 shares of the restaurant operator's stock worth $1,346,000 after acquiring an additional 76,498 shares during the period. Bank of America Corp DE grew its holdings in Dave & Buster's Entertainment by 50.7% during the fourth quarter. Bank of America Corp DE now owns 212,720 shares of the restaurant operator's stock worth $6,209,000 after acquiring an additional 71,520 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Dave & Buster's Entertainment by 9.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 516,835 shares of the restaurant operator's stock worth $9,081,000 after acquiring an additional 44,911 shares during the period. Institutional investors and hedge funds own 91.45% of the company's stock.

Dave & Buster's Entertainment Stock Down 0.2%

NASDAQ PLAY traded down $0.04 during mid-day trading on Thursday, reaching $24.20. 733,779 shares of the company's stock traded hands, compared to its average volume of 1,267,400. Dave & Buster's Entertainment, Inc. has a 1-year low of $15.08 and a 1-year high of $43.73. The company has a fifty day simple moving average of $28.59 and a 200-day simple moving average of $24.01. The company has a current ratio of 0.26, a quick ratio of 0.17 and a debt-to-equity ratio of 10.69. The company has a market cap of $836.84 million, a price-to-earnings ratio of 23.96 and a beta of 2.04.

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PLAY shares. BMO Capital Markets upped their price objective on Dave & Buster's Entertainment from $30.00 to $35.00 and gave the stock an "outperform" rating in a report on Wednesday, June 11th. Loop Capital upped their price objective on Dave & Buster's Entertainment from $35.00 to $46.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Truist Financial dropped their price objective on Dave & Buster's Entertainment from $29.00 to $27.00 and set a "hold" rating on the stock in a report on Wednesday, August 27th. UBS Group upped their price objective on Dave & Buster's Entertainment from $18.00 to $29.00 and gave the stock a "neutral" rating in a report on Wednesday, June 11th. Finally, Piper Sandler upped their target price 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. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $33.50.

Insiders Place Their Bets

In related news, SVP John Mulleady sold 5,931 shares of Dave & Buster's Entertainment stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $32.79, for a total value of $194,477.49. Following the transaction, the senior vice president directly owned 42,550 shares in the company, valued at $1,395,214.50. The trade was a 12.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Tarun Lal bought 8,060 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The stock was bought at an average price of $31.26 per share, for a total transaction of $251,955.60. Following the completion of the acquisition, the chief executive officer directly owned 8,060 shares in the company, valued at approximately $251,955.60. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.02% of the stock is currently owned by insiders.

Dave & Buster's Entertainment 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.