Easterly Investment Partners LLC Sells 50,822 Shares of Dave & Buster's Entertainment, Inc. $PLAY

Key Points

• Easterly Investment Partners LLC reduced its stake in Dave & Buster's Entertainment by 61.9%, selling 50,822 shares during the second quarter, leaving it with only 31,261 shares valued at approximately $940,000.
• Several other institutional investors have increased their positions in the company, with notable stakes including Farther Finance Advisors LLC investing $37,000 and US Bancorp DE increasing its holdings by 442.0%.
• Research analysts have recently downgraded Dave & Buster's, with Zacks Research lowering its rating from "hold" to "strong sell" and UBS Group decreasing their price target from $29.00 to $25.00.

Easterly Investment Partners LLC trimmed its holdings in shares of Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Free Report) by 61.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,261 shares of the restaurant operator's stock after selling 50,822 shares during the quarter. Easterly Investment Partners LLC owned 0.09% of Dave & Buster's Entertainment worth $940,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC bought a new stake in shares of Dave & Buster's Entertainment during the second quarter worth $37,000. US Bancorp DE raised its holdings in shares of Dave & Buster's Entertainment by 442.0% in the first 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 raised its holdings in shares of Dave & Buster's Entertainment by 1,427.5% in the first 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 raised its holdings in shares of Dave & Buster's Entertainment by 3,974.8% in the first 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 in the last quarter. Finally, Boyar Asset Management Inc. bought a new stake in shares of Dave & Buster's Entertainment in the second quarter valued at about $205,000. 91.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Dave & Buster's Entertainment

In other Dave & Buster's Entertainment news, CEO Tarun Lal purchased 8,060 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were acquired at an average price of $31.26 per share, for a total transaction of $251,955.60. Following the completion of the purchase, the chief executive officer owned 8,060 shares of the company's stock, valued at approximately $251,955.60. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.02% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PLAY. Zacks Research downgraded Dave & Buster's Entertainment from a "hold" rating to a "strong sell" rating in a report on Monday, September 15th. UBS Group decreased their price objective on Dave & Buster's Entertainment from $29.00 to $25.00 and set a "neutral" rating for the company in a report on Tuesday, September 16th. Weiss Ratings restated a "sell (d)" rating on shares of Dave & Buster's Entertainment in a report on Wednesday, October 8th. Truist Financial decreased their price objective on Dave & Buster's Entertainment from $27.00 to $22.00 and set a "hold" rating for the company in a report on Tuesday, September 16th. Finally, Piper Sandler decreased their price objective on Dave & Buster's Entertainment from $30.00 to $26.00 and set a "neutral" rating for the company in a report on Tuesday, September 16th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $31.33.

Dave & Buster's Entertainment Price Performance

PLAY opened at $18.00 on Friday. The business's 50-day moving average is $21.77 and its two-hundred day moving average is $23.88. 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 debt-to-equity ratio of 9.32, a current ratio of 0.33 and a quick ratio of 0.22. The firm has a market capitalization of $624.06 million, a PE ratio of 52.94 and a beta of 1.97.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last posted its earnings results on Monday, September 15th. The restaurant operator reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.60). Dave & Buster's Entertainment had a net margin of 0.46% and a return on equity of 29.24%. The company had revenue of $557.40 million during the quarter, compared to analysts' expectations of $565.43 million. During the same quarter last year, the firm earned $0.99 EPS. Dave & Buster's Entertainment's revenue for the quarter was up .1% on a year-over-year basis. Research analysts anticipate that Dave & Buster's Entertainment, Inc. will post 2.52 earnings per share for the current fiscal 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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