First Eagle Investment Management LLC Buys Shares of 101,000 Dave & Buster's Entertainment, Inc. $PLAY

Key Points

• First Eagle Investment Management initiated a new position of 101,000 shares in Dave & Buster's (PLAY) worth about $1.83 million, representing roughly 0.29% of the company at quarter-end, while overall institutional ownership stands at about 91.45%.
• Analysts hold a consensus rating of "Hold" with a mean price target of $23.83 (three Buy, four Hold, one Sell), and several firms have recently lowered their targets while one upgraded to a Buy at $30.00.
• Dave & Buster's reported a quarterly EPS of ($1.22) versus expectations of ($1.16) and revenue of $448.2M (vs. $460.7M est.); the stock trades around $15.44 with a 52-week range of $13.04–$35.53, negative P/E, and weak liquidity ratios.

First Eagle Investment Management LLC bought a new position in Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 101,000 shares of the restaurant operator's stock, valued at approximately $1,834,000. First Eagle Investment Management LLC owned about 0.29% of Dave & Buster's Entertainment at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AlphaQuest LLC increased its position in Dave & Buster's Entertainment by 415.9% during the 3rd quarter. AlphaQuest LLC now owns 8,094 shares of the restaurant operator's stock worth $147,000 after purchasing an additional 6,525 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Dave & Buster's Entertainment by 292.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,062 shares of the restaurant operator's stock worth $152,000 after buying an additional 3,772 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Dave & Buster's Entertainment during the second quarter worth $214,000. Marshall Wace LLP bought a new position in shares of Dave & Buster's Entertainment in the 2nd quarter valued at $243,000. Finally, AlTi Global Inc. acquired a new stake in shares of Dave & Buster's Entertainment during the 3rd quarter valued at $247,000. 91.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on PLAY shares. Weiss Ratings reissued a "sell (d)" rating on shares of Dave & Buster's Entertainment in a research note on Wednesday, January 21st. Benchmark raised Dave & Buster's Entertainment from a "hold" rating to a "buy" rating and set a $30.00 price target for the company in a research note on Friday, January 16th. BMO Capital Markets lowered their target price on shares of Dave & Buster's Entertainment from $35.00 to $30.00 and set an "outperform" rating for the company in a research note on Wednesday, December 10th. UBS Group lowered their target price on Dave & Buster's Entertainment from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Tuesday, January 6th. Finally, Truist Financial dropped their price objective on shares of Dave & Buster's Entertainment from $23.00 to $18.00 and set a "hold" rating on the stock in a report on Thursday, January 8th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Dave & Buster's Entertainment has an average rating of "Hold" and a consensus price target of $23.83.

Dave & Buster's Entertainment Trading Up 4.9%

NASDAQ:PLAY opened at $15.44 on Thursday. The firm has a 50-day moving average price of $17.36 and a two-hundred day moving average price of $18.31. The firm has a market cap of $535.46 million, a price-to-earnings ratio of -385.90 and a beta of 1.79. Dave & Buster's Entertainment, Inc. has a 52 week low of $13.04 and a 52 week high of $35.53. The company has a debt-to-equity ratio of 11.87, a quick ratio of 0.22 and a current ratio of 0.32.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last announced its quarterly earnings data on Tuesday, December 9th. The restaurant operator reported ($1.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.16) by ($0.06). The business had revenue of $448.20 million during the quarter, compared to the consensus estimate of $460.66 million. Dave & Buster's Entertainment had a net margin of 0.01% and a return on equity of 19.13%. The firm's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.45) EPS. On average, equities analysts expect 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 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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