Arrowstreet Capital Limited Partnership Raises Position in Dave & Buster's Entertainment, Inc. $PLAY

Arrowstreet Capital Limited Partnership boosted its position in shares of Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Free Report) by 44.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,509,752 shares of the restaurant operator's stock after buying an additional 468,174 shares during the quarter. Arrowstreet Capital Limited Partnership owned 4.35% of Dave & Buster's Entertainment worth $16,351,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of PLAY. Advisory Services Network LLC purchased a new position in Dave & Buster's Entertainment during the 3rd quarter worth $27,000. Caitong International Asset Management Co. Ltd raised its stake 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 worth $31,000 after acquiring an additional 1,671 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of Dave & Buster's Entertainment during the 4th quarter valued at $42,000. Tower Research Capital LLC TRC raised its stake in Dave & Buster's Entertainment by 292.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,062 shares of the restaurant operator's stock valued at $152,000 after buying an additional 3,772 shares during the last quarter. Finally, Quadrant Capital Group LLC acquired a new stake in Dave & Buster's Entertainment in the 3rd quarter worth approximately $104,000. Institutional investors own 91.45% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on PLAY. Piper Sandler dropped their price target on Dave & Buster's Entertainment from $22.00 to $14.00 and set a "neutral" rating on the stock in a research note on Monday, April 6th. Citigroup started coverage on shares of Dave & Buster's Entertainment in a research note on Monday, June 29th. They set a "market perform" rating on the stock. Weiss Ratings reissued a "sell (d)" rating on shares of Dave & Buster's Entertainment in a research note on Friday, July 17th. BMO Capital Markets reduced their target price on Dave & Buster's Entertainment from $24.00 to $22.00 and set an "outperform" rating for the company in a report on Tuesday, June 16th. Finally, Wall Street Zen cut shares of Dave & Buster's Entertainment from a "hold" rating to a "strong sell" rating in a research report on Monday, April 6th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $19.33.

Dave & Buster's Entertainment Trading Up 5.8%

Shares of NASDAQ PLAY opened at $10.84 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.20 and a debt-to-equity ratio of 15.01. The stock has a market capitalization of $377.12 million, a PE ratio of -5.74 and a beta of 1.84. The stock has a fifty day simple moving average of $11.28 and a 200-day simple moving average of $13.30. Dave & Buster's Entertainment, Inc. has a twelve month low of $9.40 and a twelve month high of $30.16.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last announced its earnings results on Monday, June 15th. The restaurant operator reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.38). Dave & Buster's Entertainment had a negative return on equity of 24.19% and a negative net margin of 3.09%.The business had revenue of $559.20 million for the quarter, compared to analysts' expectations of $580.60 million. During the same period in the previous year, the company earned $0.76 earnings per share. Dave & Buster's Entertainment's quarterly revenue was down 1.5% on a year-over-year basis. On average, equities analysts forecast that Dave & Buster's Entertainment, Inc. will post -1.1 earnings per share for the current year.

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.

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