Dave & Buster's Entertainment, Inc. $PLAY Shares Sold by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. reduced its stake in Dave & Buster's by 77.6% in Q3, selling 255,160 shares and leaving 73,848 shares worth about $1.34M (0.21% ownership).
• Dave & Buster's reported a weak quarter with EPS of ($0.35) versus a $0.39 consensus (missing by $0.74) and revenue of $529.6M versus $556.6M expected, producing negative net margin and return on equity.
• Analysts have cut targets and ratings (consensus price target $21.83) while the stock trades near $13.48 with a market cap around $468M and a 52-week range of $9.61–$35.53.

JPMorgan Chase & Co. reduced its stake in Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Free Report) by 77.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 73,848 shares of the restaurant operator's stock after selling 255,160 shares during the quarter. JPMorgan Chase & Co. owned 0.21% of Dave & Buster's Entertainment worth $1,341,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Advisory Services Network LLC acquired a new position in shares of Dave & Buster's Entertainment in the 3rd quarter worth approximately $27,000. Quadrant Capital Group LLC acquired a new position in shares of Dave & Buster's Entertainment in the 3rd quarter worth approximately $104,000. AlphaQuest LLC lifted its holdings in shares of Dave & Buster's Entertainment by 415.9% in the 3rd quarter. AlphaQuest LLC now owns 8,094 shares of the restaurant operator's stock worth $147,000 after acquiring an additional 6,525 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Dave & Buster's Entertainment by 292.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,062 shares of the restaurant operator's stock worth $152,000 after acquiring an additional 3,772 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Dave & Buster's Entertainment by 134.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,111 shares of the restaurant operator's stock worth $220,000 after acquiring an additional 6,944 shares during the last quarter. 91.45% of the stock is currently owned by institutional investors and hedge funds.

Dave & Buster's Entertainment Price Performance

Shares of NASDAQ PLAY opened at $13.48 on Friday. The company has a debt-to-equity ratio of 16.61, a quick ratio of 0.19 and a current ratio of 0.29. Dave & Buster's Entertainment, Inc. has a fifty-two week low of $9.61 and a fifty-two week high of $35.53. The firm has a market capitalization of $468.30 million, a PE ratio of -9.43 and a beta of 1.83. The stock's 50-day simple moving average is $14.48 and its 200-day simple moving average is $16.33.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The restaurant operator reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.74). Dave & Buster's Entertainment had a negative return on equity of 7.93% and a negative net margin of 2.32%.The company had revenue of $529.60 million for the quarter, compared to analyst estimates of $556.56 million. During the same quarter in the prior year, the business earned $0.69 earnings per share. Dave & Buster's Entertainment's revenue was down .9% compared to the same quarter last year. As a group, equities research analysts forecast that Dave & Buster's Entertainment, Inc. will post 2.52 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PLAY shares. Truist Financial decreased their target price on Dave & Buster's Entertainment from $23.00 to $18.00 and set a "hold" rating on the stock in a research note on Thursday, January 8th. UBS Group reduced their target price on shares of Dave & Buster's Entertainment from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Tuesday, January 6th. Zacks Research lowered shares of Dave & Buster's Entertainment from a "hold" rating to a "strong sell" rating in a report on Thursday, April 2nd. Piper Sandler reduced their target price on shares of Dave & Buster's Entertainment from $22.00 to $14.00 and set a "neutral" rating on the stock in a report on Monday. Finally, Wall Street Zen lowered shares of Dave & Buster's Entertainment from a "hold" rating to a "strong sell" rating in a report on Monday. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $21.83.

Dave & Buster's Entertainment Profile

Dave & Buster's Entertainment, Inc operates a chain of combined restaurant and entertainment venues designed to appeal to families, young adults and corporate groups. Each location features a full-service restaurant and bar alongside an arcade gaming area with ticket-based redemption, virtual reality experiences and skill-based games. Many venues also include multiple large-screen televisions and a sports bar atmosphere, catering to fans who wish to watch live sporting events in a social setting.

The company was founded in 1982 by David Corriveau and James “Buster” Corley, opening its first location in Dallas, Texas.

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