Caption Management LLC Cuts Stock Holdings in Dave & Buster's Entertainment, Inc. $PLAY

Key Points

• Caption Management LLC significantly reduced its stake in Dave & Buster's by 96.1%, now holding just 1,953 shares after selling 48,047 during the first quarter, valued at $34,000.
• Several institutional investors increased their stakes in Dave & Buster's, with Sei Investments Co. growing its holdings by 4.5% and now owning $2.14 million worth of shares.
• Analyst ratings have shown a mix, with BMO Capital Markets raising its price target to $35 and maintaining an "outperform" rating, while Truist Financial cut its target from $29 to $27.

Caption Management LLC lessened its holdings in Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Free Report) by 96.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,953 shares of the restaurant operator's stock after selling 48,047 shares during the quarter. Caption Management LLC's holdings in Dave & Buster's Entertainment were worth $34,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Dave & Buster's Entertainment by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,407 shares of the restaurant operator's stock worth $537,000 after purchasing an additional 728 shares during the period. US Bancorp DE raised its stake in shares of Dave & Buster's Entertainment by 442.0% during the first quarter. US Bancorp DE now owns 1,561 shares of the restaurant operator's stock valued at $27,000 after acquiring an additional 1,273 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of Dave & Buster's Entertainment by 7.7% during the fourth quarter. MetLife Investment Management LLC now owns 20,618 shares of the restaurant operator's stock valued at $602,000 after acquiring an additional 1,479 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Dave & Buster's Entertainment by 9.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,682 shares of the restaurant operator's stock valued at $750,000 after acquiring an additional 2,244 shares during the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC raised its stake in shares of Dave & Buster's Entertainment by 21.6% during the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 12,940 shares of the restaurant operator's stock valued at $227,000 after acquiring an additional 2,300 shares during the last quarter. Hedge funds and other institutional investors own 91.45% of the company's stock.

Analyst Upgrades and Downgrades

PLAY has been the subject of several recent analyst reports. UBS Group upped their price objective on shares of Dave & Buster's Entertainment from $18.00 to $29.00 and gave the company a "neutral" rating in a research note on Wednesday, June 11th. Piper Sandler upped their price objective on shares of Dave & Buster's Entertainment from $22.00 to $30.00 and gave the company a "neutral" rating in a research note on Wednesday, June 11th. Loop Capital upped their price objective on shares of Dave & Buster's Entertainment from $35.00 to $46.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Truist Financial lowered their price objective on shares of Dave & Buster's Entertainment from $29.00 to $27.00 and set a "hold" rating for the company in a research note on Wednesday, August 27th. Finally, BMO Capital Markets upped their price objective on shares of Dave & Buster's Entertainment from $30.00 to $35.00 and gave the company an "outperform" rating in a research note on Wednesday, June 11th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Dave & Buster's Entertainment has an average rating of "Hold" and an average price target of $33.50.

Dave & Buster's Entertainment Trading Down 1.9%

Shares of NASDAQ PLAY traded down $0.47 during midday trading on Friday, hitting $23.73. 800,239 shares of the company traded hands, compared to its average volume of 743,311. Dave & Buster's Entertainment, Inc. has a 12-month low of $15.08 and a 12-month high of $43.73. 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 50-day moving average price of $28.33 and a 200 day moving average price of $24.00. The firm has a market cap of $820.49 million, a P/E ratio of 23.50 and a beta of 2.04.

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 (EPS) 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 company had revenue of $567.70 million for the quarter, compared to analysts' expectations of $572.12 million. During the same quarter in the prior year, the firm earned $0.99 EPS. Dave & Buster's Entertainment's quarterly revenue was down 3.5% compared to the same quarter last year. As a group, analysts expect that Dave & Buster's Entertainment, Inc. will post 2.52 earnings per share for the current year.

Insider Activity

In related news, CEO Tarun Lal purchased 8,060 shares of Dave & Buster's Entertainment stock in a transaction that occurred on Tuesday, July 22nd. The shares were bought at an average price of $31.26 per share, for a total transaction of $251,955.60. Following the completion of the transaction, the chief executive officer directly owned 8,060 shares of the company's stock, valued at $251,955.60. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP John Mulleady sold 5,931 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was 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 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 disclosure for this sale can be found here. 2.02% of the stock is 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.