BlackRock Inc. Invests $36.73 Million in Dave & Buster's Entertainment, Inc. $PLAY

Key Points

• BlackRock acquired 3.22 million shares of Dave & Buster’s Entertainment in the second quarter, worth approximately $36.7 million and representing a 9.26% stake.
• Institutional investors own 91.45% of the company, with several funds recently increasing or initiating positions in the stock.
• Dave & Buster’s reported weaker-than-expected quarterly results, with EPS of $0.22 versus $0.60 expected and revenue down 1.5% year over year. Analysts have a consensus “Hold” rating and an average price target of $19.33, compared with the stock’s $8.45 opening price.

BlackRock Inc. purchased a new position in shares of Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,221,499 shares of the restaurant operator's stock, valued at approximately $36,725,000. BlackRock Inc. owned about 9.26% of Dave & Buster's Entertainment as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Nomura Holdings Inc. increased its stake in Dave & Buster's Entertainment by 532.9% during the 3rd quarter. Nomura Holdings Inc. now owns 2,411,191 shares of the restaurant operator's stock worth $43,787,000 after buying an additional 2,030,186 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Dave & Buster's Entertainment by 44.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,509,752 shares of the restaurant operator's stock valued at $16,351,000 after acquiring an additional 468,174 shares in the last quarter. MUFG Securities EMEA plc purchased a new position in shares of Dave & Buster's Entertainment in the fourth quarter valued at approximately $7,359,000. ING Groep NV purchased a new position in shares of Dave & Buster's Entertainment in the fourth quarter valued at approximately $7,311,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Dave & Buster's Entertainment by 40.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,515,000 shares of the restaurant operator's stock worth $24,558,000 after acquiring an additional 434,000 shares during the last quarter. 91.45% of the stock is owned by hedge funds and other institutional investors.

Dave & Buster's Entertainment Price Performance

NASDAQ:PLAY opened at $8.45 on Wednesday. Dave & Buster's Entertainment, Inc. has a one year low of $8.36 and a one year high of $25.25. The company has a debt-to-equity ratio of 15.01, a quick ratio of 0.20 and a current ratio of 0.29. The stock has a market cap of $293.98 million, a PE ratio of -4.47 and a beta of 1.82. The stock has a 50 day moving average price of $10.37 and a 200 day moving average price of $11.82.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last released its quarterly earnings data on Monday, June 15th. The restaurant operator reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.60 by ($0.38). The company had revenue of $559.20 million for the quarter, compared to analyst estimates of $580.60 million. Dave & Buster's Entertainment had a negative return on equity of 24.19% and a negative net margin of 3.09%.The business's quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm posted $0.76 EPS. Equities research analysts expect that Dave & Buster's Entertainment, Inc. will post -1.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the company. Citigroup initiated coverage on Dave & Buster's Entertainment in a research note on Monday, June 29th. They issued a "market perform" rating for the company. UBS Group lowered their target price on shares of Dave & Buster's Entertainment from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 16th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Dave & Buster's Entertainment in a report on Friday, July 17th. Citizens Jmp started coverage on shares of Dave & Buster's Entertainment in a research report on Monday, June 29th. They issued a "market perform" rating for the company. Finally, BMO Capital Markets decreased their price target on shares of Dave & Buster's Entertainment from $24.00 to $22.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 16th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $19.33.

Dave & Buster's Entertainment Profile

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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