Charles Schwab Investment Management Inc. Has $9.08 Million Holdings in Dave & Buster's Entertainment, Inc. $PLAY

Key Points

• Charles Schwab Investment Management Inc. has increased its stake in Dave & Buster's Entertainment by 9.5%, now owning 516,835 shares valued at approximately $9,081,000.
• Several other institutional investors have significantly raised their positions, with US Bancorp DE increasing its stake by 442.0%, indicating strong institutional interest in the company.
• Despite recent increases in target prices from analysts, Dave & Buster's reported lower earnings of $0.76 per share, missing estimates, and a revenue decline of 3.5% compared to the previous year.

Charles Schwab Investment Management Inc. raised its stake in Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Free Report) by 9.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 516,835 shares of the restaurant operator's stock after purchasing an additional 44,911 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.50% of Dave & Buster's Entertainment worth $9,081,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PLAY. Clearline Capital LP boosted its holdings 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 valued at $33,458,000 after purchasing an additional 1,084,890 shares during the period. Patient Capital Management LLC boosted its holdings 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 valued at $51,878,000 after purchasing an additional 476,662 shares during the period. Woodline Partners LP bought a new position in shares of Dave & Buster's Entertainment during the 4th quarter worth about $6,702,000. Eminence Capital LP lifted its holdings in shares of Dave & Buster's Entertainment by 3.6% during the 4th quarter. Eminence Capital LP now owns 3,845,454 shares of the restaurant operator's stock worth $112,249,000 after acquiring an additional 135,095 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Dave & Buster's Entertainment during the 4th quarter worth about $3,677,000. 91.45% of the stock is owned by institutional investors.

Dave & Buster's Entertainment Price Performance

Shares of Dave & Buster's Entertainment stock traded up $1.10 during mid-day trading on Friday, reaching $25.67. 692,184 shares of the stock were exchanged, compared to its average volume of 776,152. The company has a market cap of $887.67 million, a price-to-earnings ratio of 25.42 and a beta of 2.04. 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 firm has a 50-day simple moving average of $28.97 and a 200 day simple moving average of $23.99. Dave & Buster's Entertainment, Inc. has a fifty-two week low of $15.08 and a fifty-two week high of $43.73.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last announced its earnings results on Tuesday, June 10th. The restaurant operator reported $0.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.96 by ($0.20). The firm had revenue of $567.70 million for the quarter, compared to analyst estimates of $572.12 million. Dave & Buster's Entertainment had a return on equity of 40.67% and a net margin of 1.83%.The company's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.99 EPS. On average, sell-side analysts predict that Dave & Buster's Entertainment, Inc. will post 2.52 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PLAY shares. Truist Financial reduced 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 report on Wednesday. Piper Sandler raised their price objective 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. BMO Capital Markets raised their price objective 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 raised their price objective 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. Finally, Loop Capital raised their price objective 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 research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $33.50.

Insider Transactions at Dave & Buster's Entertainment

In related news, SVP John Mulleady sold 5,931 shares of the 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 owned 42,550 shares in the company, valued at $1,395,214.50. This trade represents a 12.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Tarun Lal acquired 8,060 shares of the stock in a transaction on 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 transaction, the chief executive officer directly owned 8,060 shares in the company, valued at approximately $251,955.60. This represents a ∞ increase in their position. 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.