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

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its holdings in Dave & Buster's Entertainment by 35.6%, selling 66,420 shares during the first quarter.
• Several institutional investors significantly increased their stakes, with US Bancorp DE boosting its holding by 442.0% and Signaturefd LLC by 1,427.5% in the same timeframe.
• Despite missing earnings estimates for the last quarter, with a reported EPS of $0.76, analysts anticipate a consensus target price of $33.83 for the stock.

Hotchkis & Wiley Capital Management LLC decreased its position in Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Free Report) by 35.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 120,140 shares of the restaurant operator's stock after selling 66,420 shares during the period. Hotchkis & Wiley Capital Management LLC owned 0.35% of Dave & Buster's Entertainment worth $2,111,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Eminence Capital LP boosted its stake in Dave & Buster's Entertainment by 3.6% in the fourth quarter. Eminence Capital LP now owns 3,845,454 shares of the restaurant operator's stock valued at $112,249,000 after acquiring an additional 135,095 shares during the last quarter. Patient Capital Management LLC boosted its stake in Dave & Buster's Entertainment by 36.6% in the fourth quarter. Patient Capital Management LLC now owns 1,777,260 shares of the restaurant operator's stock valued at $51,878,000 after acquiring an additional 476,662 shares during the last quarter. Clearline Capital LP boosted its stake in Dave & Buster's Entertainment by 1,768.8% in the fourth quarter. Clearline Capital LP now owns 1,146,224 shares of the restaurant operator's stock valued at $33,458,000 after acquiring an additional 1,084,890 shares during the last quarter. Boston Partners boosted its stake in Dave & Buster's Entertainment by 1.9% in the first quarter. Boston Partners now owns 578,639 shares of the restaurant operator's stock valued at $10,169,000 after acquiring an additional 10,905 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Dave & Buster's Entertainment by 9.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 516,835 shares of the restaurant operator's stock valued at $9,081,000 after acquiring an additional 44,911 shares during the last quarter. 91.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Dave & Buster's Entertainment

In other news, CEO Tarun Lal purchased 8,060 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were purchased at an average cost of $31.26 per share, with a total value of $251,955.60. Following the completion of the acquisition, the chief executive officer owned 8,060 shares in the company, valued at $251,955.60. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP John Mulleady sold 5,931 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $32.79, for a total value of $194,477.49. Following the transaction, the senior vice president directly owned 42,550 shares of the company's stock, valued at $1,395,214.50. The trade was a 12.23% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company's stock.

Dave & Buster's Entertainment Price Performance

Shares of Dave & Buster's Entertainment stock traded up $1.10 on Monday, reaching $25.67. The stock had a trading volume of 692,184 shares, compared to its average volume of 776,152. Dave & Buster's Entertainment, Inc. has a 1 year low of $15.08 and a 1 year high of $43.73. The company has a market cap of $887.67 million, a P/E 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 business's 50 day moving average is $28.85 and its two-hundred day moving average is $24.00.

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 analysts' consensus estimates 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 firm had revenue of $567.70 million during the quarter, compared to analysts' expectations of $572.12 million. During the same period in the previous year, the company posted $0.99 earnings per share. The company's quarterly revenue was down 3.5% compared to the same quarter last year. As a group, research analysts anticipate that Dave & Buster's Entertainment, Inc. will post 2.52 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. UBS Group boosted their target price 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. Truist Financial dropped their target price on shares of 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. BMO Capital Markets lifted their target price 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 lifted their target price on shares of Dave & Buster's Entertainment from $35.00 to $46.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Finally, Piper Sandler lifted their target price on shares of 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. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $33.50.

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.