Eminence Capital LP Has $42.88 Million Stock Position in Dave & Buster's Entertainment, Inc. $PLAY

Key Points

• Eminence Capital LP reduced its stake in Dave & Buster's by 18.7% in Q3, selling 544,305 shares and now holds 2,361,149 shares (about 6.81%) valued at $42.88 million.
• Several other institutions raised or initiated positions (notably Arrowstreet, Intech, SG Americas and CIBC), and institutional investors collectively own 91.45% of PLAY.
• PLAY is trading around $12.94 with a market cap of $448.76 million and negative P/E, while analysts have a consensus rating of "Hold" and an average target price of $23.83 (3 Buy, 4 Hold, 1 Sell).

Eminence Capital LP cut its holdings in shares of Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Free Report) by 18.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,361,149 shares of the restaurant operator's stock after selling 544,305 shares during the period. Eminence Capital LP owned approximately 6.81% of Dave & Buster's Entertainment worth $42,878,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Dave & Buster's Entertainment by 99.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 999,554 shares of the restaurant operator's stock valued at $30,067,000 after purchasing an additional 499,412 shares in the last quarter. First Eagle Investment Management LLC bought a new stake in Dave & Buster's Entertainment during the third quarter worth $1,834,000. Intech Investment Management LLC raised its position in Dave & Buster's Entertainment by 213.6% in the 2nd quarter. Intech Investment Management LLC now owns 119,183 shares of the restaurant operator's stock valued at $3,585,000 after buying an additional 81,177 shares during the last quarter. SG Americas Securities LLC raised its position in Dave & Buster's Entertainment by 411.9% in the 3rd quarter. SG Americas Securities LLC now owns 190,840 shares of the restaurant operator's stock valued at $3,466,000 after buying an additional 153,556 shares during the last quarter. Finally, Cibc World Market Inc. lifted its stake in Dave & Buster's Entertainment by 236.9% during the 3rd quarter. Cibc World Market Inc. now owns 336,900 shares of the restaurant operator's stock valued at $6,118,000 after acquiring an additional 236,900 shares in the last quarter. Institutional investors own 91.45% of the company's stock.

Dave & Buster's Entertainment Trading Down 0.2%

NASDAQ PLAY opened at $12.94 on Friday. The business's fifty day moving average is $16.99 and its 200-day moving average is $17.76. The company has a debt-to-equity ratio of 11.87, a current ratio of 0.32 and a quick ratio of 0.22. The stock has a market capitalization of $448.76 million, a price-to-earnings ratio of -323.42 and a beta of 1.79. Dave & Buster's Entertainment, Inc. has a one year low of $12.64 and a one year high of $35.53.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Zacks Research upgraded shares of Dave & Buster's Entertainment from a "strong sell" rating to a "hold" rating in a research note on Thursday, December 11th. Wall Street Zen raised shares of Dave & Buster's Entertainment from a "sell" rating to a "hold" rating in a research report on Saturday, March 7th. UBS Group decreased their price objective on shares of Dave & Buster's Entertainment from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Tuesday, January 6th. Benchmark raised shares of Dave & Buster's Entertainment from a "hold" rating to a "buy" rating and set a $30.00 target price on the stock in a research report on Friday, January 16th. Finally, BMO Capital Markets cut their target price on Dave & Buster's Entertainment from $35.00 to $30.00 and set an "outperform" rating on the stock in a research note on Wednesday, December 10th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $23.83.

Dave & Buster's Entertainment Company 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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