Boston Partners Grows Position in Dave & Buster's Entertainment, Inc. $PLAY

Key Points

• Boston Partners increased its stake in Dave & Buster's Entertainment by 1.9%, holding approximately 578,639 shares worth $10.17 million.
• Several hedge funds significantly increased their positions in Dave & Buster's, with increases ranging from 442.0% to 4,311.6% in the first quarter.
• Equities analysts have adjusted their price targets for Dave & Buster's, with ratings from "neutral" to "buy" and an average price target currently at $33.83.

Boston Partners lifted its holdings in shares of Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Free Report) by 1.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 578,639 shares of the restaurant operator's stock after buying an additional 10,905 shares during the quarter. Boston Partners owned about 1.68% of Dave & Buster's Entertainment worth $10,169,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Clearline Capital LP lifted its stake in Dave & Buster's Entertainment by 1,768.8% in the 4th quarter. Clearline Capital LP now owns 1,146,224 shares of the restaurant operator's stock worth $33,458,000 after purchasing an additional 1,084,890 shares in the last quarter. Patient Capital Management LLC lifted its stake in Dave & Buster's Entertainment by 36.6% in the 4th quarter. Patient Capital Management LLC now owns 1,777,260 shares of the restaurant operator's stock worth $51,878,000 after purchasing an additional 476,662 shares in the last quarter. Woodline Partners LP purchased a new stake in Dave & Buster's Entertainment in the 4th quarter worth approximately $6,702,000. Nuveen LLC purchased a new stake in Dave & Buster's Entertainment in the 1st quarter worth approximately $2,453,000. Finally, Eminence Capital LP lifted its stake in Dave & Buster's Entertainment by 3.6% in the 4th quarter. Eminence Capital LP now owns 3,845,454 shares of the restaurant operator's stock worth $112,249,000 after purchasing an additional 135,095 shares in the last quarter. 91.45% of the stock is currently owned by hedge funds and other institutional investors.

Dave & Buster's Entertainment Trading Down 2.3%

PLAY traded down $0.5590 during trading on Thursday, hitting $23.5510. 215,207 shares of the stock traded hands, compared to its average volume of 1,287,492. The firm has a market capitalization of $814.39 million, a P/E ratio of 23.33 and a beta of 2.14. The company has a debt-to-equity ratio of 10.69, a current ratio of 0.26 and a quick ratio of 0.17. The firm has a 50-day moving average of $29.91 and a 200 day moving average of $24.05. Dave & Buster's Entertainment, Inc. has a 12-month low of $15.08 and a 12-month high of $43.73.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last announced 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). Dave & Buster's Entertainment had a net margin of 1.83% and a return on equity of 40.67%. The firm had revenue of $567.70 million for the quarter, compared to analysts' expectations of $572.12 million. During the same period in the previous year, the company earned $0.99 EPS. The company's quarterly revenue was down 3.5% on a year-over-year basis. Equities research analysts anticipate that Dave & Buster's Entertainment, Inc. will post 2.52 EPS for the current year.

Analyst Ratings Changes

PLAY has been the topic of a number of research analyst reports. BMO Capital Markets increased their price target on shares of Dave & Buster's Entertainment from $30.00 to $35.00 and gave the stock an "outperform" rating in a report on Wednesday, June 11th. UBS Group increased their price target on shares of Dave & Buster's Entertainment from $18.00 to $29.00 and gave the stock a "neutral" rating in a report on Wednesday, June 11th. Piper Sandler increased their price target on shares of Dave & Buster's Entertainment from $22.00 to $30.00 and gave the stock a "neutral" rating in a report on Wednesday, June 11th. Truist Financial increased their price target on shares of Dave & Buster's Entertainment from $22.00 to $29.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Finally, Loop Capital increased their price target on shares of Dave & Buster's Entertainment from $35.00 to $46.00 and gave the stock a "buy" 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 presently has an average rating of "Hold" and a consensus price target of $33.83.

Insider Transactions at Dave & Buster's Entertainment

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

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.