Dave & Buster's Entertainment, Inc. $PLAY Shares Sold by Hotchkis & Wiley Capital Management LLC

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 holdings in shares of Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Free Report) by 35.6% during the first quarter, according to its most recent disclosure 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 approximately 0.35% of Dave & Buster's Entertainment worth $2,111,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. US Bancorp DE boosted its stake in Dave & Buster's Entertainment by 442.0% in 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 in the last quarter. Signaturefd LLC grew its holdings in shares of 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 valued at $75,000 after buying an additional 3,997 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Dave & Buster's Entertainment by 3,974.8% in the 1st quarter. GAMMA Investing LLC now owns 4,360 shares of the restaurant operator's stock valued at $77,000 after acquiring an additional 4,253 shares during the period. Federated Hermes Inc. purchased a new position in Dave & Buster's Entertainment in the 1st quarter worth $139,000. Finally, ProShare Advisors LLC raised its stake in Dave & Buster's Entertainment by 44.5% in the 4th quarter. ProShare Advisors LLC now owns 9,728 shares of the restaurant operator's stock worth $284,000 after acquiring an additional 2,996 shares during the last quarter. 91.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Dave & Buster's Entertainment

In related news, SVP John Mulleady sold 5,931 shares of the company'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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Tarun Lal acquired 8,060 shares of the company's stock in a transaction on Tuesday, July 22nd. The stock was acquired at an average cost of $31.26 per share, for a total transaction of $251,955.60. Following the completion of the acquisition, the chief executive officer owned 8,060 shares of the company's stock, valued at $251,955.60. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.02% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PLAY. BMO Capital Markets increased their price objective on Dave & Buster's Entertainment from $30.00 to $35.00 and gave the company an "outperform" rating in a report on Wednesday, June 11th. Piper Sandler increased 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. Loop Capital lifted their price objective on shares of Dave & Buster's Entertainment from $35.00 to $46.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Truist Financial upped their price objective on shares of Dave & Buster's Entertainment from $22.00 to $29.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Finally, 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 report on Wednesday, June 11th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $33.83.

Dave & Buster's Entertainment Trading Up 4.2%

Dave & Buster's Entertainment stock opened at $25.89 on Wednesday. The firm has a market cap of $895.28 million, a PE ratio of 25.63 and a beta of 2.14. 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 simple moving average is $29.39 and its two-hundred day simple moving average is $23.98. 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 (NASDAQ:PLAY - Get Free Report) last posted its earnings results 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). The firm had revenue of $567.70 million during the quarter, compared to analyst estimates of $572.12 million. Dave & Buster's Entertainment had a net margin of 1.83% and a return on equity of 40.67%. The business's revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.99 earnings per share. Analysts anticipate that Dave & Buster's Entertainment, Inc. will post 2.52 earnings per share for the current year.

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.

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