Clearline Capital LP Purchases 203,012 Shares of Dave & Buster's Entertainment, Inc. $PLAY

Key Points

• Clearline Capital LP has increased its stake in Dave & Buster's Entertainment by 17.7%, acquiring an additional 203,012 shares, bringing its total ownership to approximately 3.91% of the company.
• Several institutional investors have also significantly adjusted their positions, with Signaturefd LLC raising its stake by 1,427.5% and GAMMA Investing LLC increasing its stake by 71,493.5% during the first quarter.
• Wall Street analysts have mixed views on Dave & Buster's, with target prices ranging from $18.00 to $46.00, resulting in a consensus rating of "Hold" and an average target price of $33.50.

Clearline Capital LP boosted its stake in Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Free Report) by 17.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,349,236 shares of the restaurant operator's stock after acquiring an additional 203,012 shares during the period. Dave & Buster's Entertainment accounts for about 1.4% of Clearline Capital LP's holdings, making the stock its 10th biggest position. Clearline Capital LP owned approximately 3.91% of Dave & Buster's Entertainment worth $23,706,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 valued at $537,000 after buying an additional 728 shares in the last quarter. US Bancorp DE lifted its stake in shares of Dave & Buster's Entertainment by 442.0% during the 1st quarter. US Bancorp DE now owns 1,561 shares of the restaurant operator's stock worth $27,000 after purchasing an additional 1,273 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Dave & Buster's Entertainment by 9.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,682 shares of the restaurant operator's stock worth $750,000 after purchasing an additional 2,244 shares during the period. Schwarz Dygos Wheeler Investment Advisors LLC lifted its stake in shares of Dave & Buster's Entertainment by 21.6% during the 1st quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 12,940 shares of the restaurant operator's stock worth $227,000 after purchasing an additional 2,300 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Dave & Buster's Entertainment by 24.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,890 shares of the restaurant operator's stock worth $209,000 after purchasing an additional 2,308 shares during the period. Institutional investors and hedge funds own 91.45% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Piper Sandler increased their price target on Dave & Buster's Entertainment from $22.00 to $30.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 11th. Truist Financial reduced their price target on Dave & Buster's Entertainment from $29.00 to $27.00 and set a "hold" rating on the stock in a research note on Wednesday, August 27th. Loop Capital upped their price objective on Dave & Buster's Entertainment from $35.00 to $46.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. UBS Group upped their price objective on 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, BMO Capital Markets upped their price objective on Dave & Buster's Entertainment from $30.00 to $35.00 and gave the stock an "outperform" rating in a report on Wednesday, June 11th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $33.50.

Insider Activity

In other news, CEO Tarun Lal bought 8,060 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The shares were purchased at an average price of $31.26 per share, with a total value of $251,955.60. Following the completion of the acquisition, the chief executive officer directly owned 8,060 shares in the company, valued at approximately $251,955.60. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John Mulleady sold 5,931 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $32.79, for a total value 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 disclosure for this sale can be found here. 2.02% of the stock is owned by company insiders.

Dave & Buster's Entertainment Stock Up 2.6%

NASDAQ:PLAY traded up $0.61 during mid-day trading on Friday, hitting $23.64. The company had a trading volume of 1,890,942 shares, compared to its average volume of 788,451. The business has a fifty day simple moving average of $27.36 and a 200-day simple moving average of $23.96. The company has a current ratio of 0.26, a quick ratio of 0.17 and a debt-to-equity ratio of 10.69. Dave & Buster's Entertainment, Inc. has a 1 year low of $15.08 and a 1 year high of $43.73. The firm has a market capitalization of $817.47 million, a price-to-earnings ratio of 23.41 and a beta of 2.04.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last released its quarterly earnings data on Tuesday, June 10th. The restaurant operator reported $0.76 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 during the quarter, compared to analysts' expectations of $572.12 million. During the same period last year, the business earned $0.99 earnings per share. The company's revenue for the quarter was down 3.5% compared to the same quarter last year. Equities analysts forecast that Dave & Buster's Entertainment, Inc. will post 2.52 earnings per share for the current fiscal year.

Dave & Buster's Entertainment Company 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.