Charles Schwab Investment Management Inc. Has $9.08 Million Stock Position 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. boosted its position in Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Free Report) by 9.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 516,835 shares of the restaurant operator's stock after acquiring an additional 44,911 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.50% of Dave & Buster's Entertainment worth $9,081,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. US Bancorp DE boosted its position in 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 buying an additional 1,273 shares during the period. Signaturefd LLC boosted its stake in Dave & Buster's Entertainment by 1,427.5% during the first quarter. Signaturefd LLC now owns 4,277 shares of the restaurant operator's stock worth $75,000 after acquiring an additional 3,997 shares in the last quarter. GAMMA Investing LLC boosted its stake in Dave & Buster's Entertainment by 3,974.8% during the first quarter. GAMMA Investing LLC now owns 4,360 shares of the restaurant operator's stock worth $77,000 after acquiring an additional 4,253 shares in the last quarter. Parallax Volatility Advisers L.P. raised its holdings in Dave & Buster's Entertainment by 9.3% in the fourth quarter. Parallax Volatility Advisers L.P. now owns 7,441 shares of the restaurant operator's stock worth $217,000 after buying an additional 632 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new position in Dave & Buster's Entertainment in the first quarter worth about $139,000. Institutional investors own 91.45% of the company's stock.

Insider Activity at Dave & Buster's Entertainment

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

Analyst Ratings Changes

A number of analysts have recently commented on the stock. BMO Capital Markets lifted 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 research note on Wednesday, June 11th. Loop Capital boosted their target price on shares of Dave & Buster's Entertainment from $35.00 to $46.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Piper Sandler boosted their target price on shares of Dave & Buster's Entertainment from $22.00 to $30.00 and gave the company a "neutral" rating in a research report on Wednesday, June 11th. UBS Group raised their target price on shares of Dave & Buster's Entertainment from $18.00 to $29.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 11th. Finally, Truist Financial lowered their price target on shares of Dave & Buster's Entertainment from $29.00 to $27.00 and set a "hold" rating on the stock in a report on Wednesday. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $33.50.

Dave & Buster's Entertainment Price Performance

Shares of Dave & Buster's Entertainment stock traded down $0.86 on Thursday, hitting $24.57. 988,686 shares of the company traded hands, compared to its average volume of 759,205. The stock has a market capitalization of $849.63 million, a P/E ratio of 24.33 and a beta of 2.14. The company has a debt-to-equity ratio of 10.69, a quick ratio of 0.17 and a current ratio of 0.26. Dave & Buster's Entertainment, Inc. has a 52 week low of $15.08 and a 52 week high of $43.73. The business has a 50-day simple moving average of $29.11 and a 200 day simple moving average of $23.99.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last issued its quarterly 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 company had revenue of $567.70 million during the quarter, compared to the consensus estimate of $572.12 million. Dave & Buster's Entertainment had a return on equity of 40.67% and a net margin of 1.83%.The firm's quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 earnings per share. Research analysts expect that Dave & Buster's Entertainment, Inc. will post 2.52 earnings per share for the current fiscal year.

Dave & Buster's Entertainment Profile

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.