Vanguard Group Inc. Sells 758,877 Shares of Dave & Buster's Entertainment, Inc. $PLAY

Key Points

• Vanguard Group Inc. reduced its stake in Dave & Buster's Entertainment by 17.7%, selling 758,877 shares and now holds approximately 10.21% of the company, valued at $61.89 million.
• CEO Tarun Lal purchased 8,060 shares at $31.26 per share, while SVP John Mulleady sold 5,931 shares at $32.79, indicating mixed insider trading activity.
• Wall Street analysts have adjusted their price targets for Dave & Buster's stock, with estimates ranging from $29.00 to $46.00, reflecting a consensus rating of "Hold" and an average target price of $33.83.

Vanguard Group Inc. reduced its stake in shares of Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Free Report) by 17.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 3,522,604 shares of the restaurant operator's stock after selling 758,877 shares during the period. Vanguard Group Inc. owned about 10.21% of Dave & Buster's Entertainment worth $61,892,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kazazian Asset Management LLC lifted its position in shares of Dave & Buster's Entertainment by 5.7% during the 1st quarter. Kazazian Asset Management LLC now owns 115,967 shares of the restaurant operator's stock worth $2,038,000 after buying an additional 6,212 shares in the last quarter. Alberta Investment Management Corp bought a new position in shares of Dave & Buster's Entertainment during the 1st quarter worth approximately $784,000. US Bancorp DE lifted its position 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 buying an additional 1,273 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Dave & Buster's Entertainment during the 1st quarter worth approximately $354,000. Finally, Federated Hermes Inc. bought a new position in shares of Dave & Buster's Entertainment during the 1st quarter worth approximately $139,000. 91.45% of the stock is owned by institutional investors.

Dave & Buster's Entertainment Stock Performance

Shares of NASDAQ PLAY traded up $1.10 during midday trading on Friday, hitting $25.67. The company's stock had a trading volume of 692,184 shares, compared to its average volume of 779,256. The stock has a fifty day moving average price of $28.97 and a 200 day moving average price of $24.00. Dave & Buster's Entertainment, Inc. has a one year low of $15.08 and a one year high of $43.73. 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 firm has a market capitalization of $887.67 million, a price-to-earnings ratio of 25.42 and a beta of 2.14.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last posted its quarterly earnings results on Tuesday, June 10th. The restaurant operator reported $0.76 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 company had revenue of $567.70 million during the quarter, compared to the consensus estimate of $572.12 million. During the same period in the previous year, the business earned $0.99 earnings per share. Dave & Buster's Entertainment's revenue was down 3.5% on a year-over-year basis. On average, research analysts forecast that Dave & Buster's Entertainment, Inc. will post 2.52 EPS for the current fiscal year.

Insider Activity at Dave & Buster's Entertainment

In related news, SVP John Mulleady sold 5,931 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were 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 in the company, valued at approximately $1,395,214.50. This represents a 12.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tarun Lal acquired 8,060 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The stock was bought at an average price of $31.26 per share, for a total transaction of $251,955.60. Following the completion of the transaction, the chief executive officer owned 8,060 shares of the company's stock, valued at $251,955.60. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 2.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on PLAY. UBS Group lifted 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 research report 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 report on Wednesday, June 11th. BMO Capital Markets increased their target price on shares of Dave & Buster's Entertainment from $30.00 to $35.00 and gave the company an "outperform" rating in a research report on Wednesday, June 11th. Truist Financial reduced their target price on shares of Dave & Buster's Entertainment from $29.00 to $27.00 and set a "hold" rating for the company in a research report on Wednesday. Finally, Piper Sandler increased their target price on shares of Dave & Buster's Entertainment from $22.00 to $30.00 and gave the company a "neutral" rating in a research report on Wednesday, June 11th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Dave & Buster's Entertainment currently has a consensus rating of "Hold" and an average target price 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.