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 raised its holdings in shares of Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Free Report) by 17.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,349,236 shares of the restaurant operator's stock after acquiring an additional 203,012 shares during the quarter. Dave & Buster's Entertainment makes up 1.4% of Clearline Capital LP's investment portfolio, making the stock its 10th largest position. Clearline Capital LP owned approximately 3.91% of Dave & Buster's Entertainment worth $23,706,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE increased its holdings in 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 valued at $27,000 after acquiring an additional 1,273 shares in the last quarter. Signaturefd LLC increased its holdings in Dave & Buster's Entertainment by 1,427.5% during the 1st quarter. Signaturefd LLC now owns 4,277 shares of the restaurant operator's stock valued at $75,000 after acquiring an additional 3,997 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of 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 buying an additional 4,253 shares in the last quarter. Federated Hermes Inc. purchased a new stake in shares of Dave & Buster's Entertainment during the first quarter worth about $139,000. Finally, ProShare Advisors LLC grew its holdings in shares of Dave & Buster's Entertainment by 44.5% during the fourth quarter. ProShare Advisors LLC now owns 9,728 shares of the restaurant operator's stock worth $284,000 after buying an additional 2,996 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 0.4%

Dave & Buster's Entertainment stock traded down $0.08 during trading on Wednesday, reaching $22.23. The company had a trading volume of 908,537 shares, compared to its average volume of 756,321. Dave & Buster's Entertainment, Inc. has a 12-month low of $15.08 and a 12-month high of $43.73. The stock's 50 day moving average price is $27.79 and its two-hundred day moving average price is $23.96. The firm has a market capitalization of $768.71 million, a price-to-earnings ratio of 22.01 and a beta of 2.04. 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 (NASDAQ:PLAY - Get Free Report) last released its quarterly earnings data 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 return on equity of 40.67% and a net margin of 1.83%.The business 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 earnings per share. Dave & Buster's Entertainment's quarterly revenue was down 3.5% compared to the same quarter last year. As a group, equities analysts expect that Dave & Buster's Entertainment, Inc. will post 2.52 earnings per share for the current fiscal year.

Insider Activity at Dave & Buster's Entertainment

In other Dave & Buster's Entertainment news, CEO Tarun Lal acquired 8,060 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was bought at an average cost of $31.26 per share, for a total transaction of $251,955.60. Following the completion of the purchase, the chief executive officer directly owned 8,060 shares in the company, 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 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 transaction of $194,477.49. Following the sale, the senior vice president owned 42,550 shares of the company's stock, valued at approximately $1,395,214.50. This represents a 12.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PLAY. Loop Capital lifted 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. UBS Group lifted 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. Truist Financial lowered their price target 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, August 27th. 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 report on Wednesday, June 11th. Finally, Piper Sandler lifted 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. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $33.50.

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.