Jennison Associates LLC Takes $555,000 Position in Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY)

Jennison Associates LLC acquired a new position in Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 31,591 shares of the restaurant operator's stock, valued at approximately $555,000. Jennison Associates LLC owned 0.09% of Dave & Buster's Entertainment at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Eminence Capital LP raised its position in shares of Dave & Buster's Entertainment by 3.6% during the 4th quarter. Eminence Capital LP now owns 3,845,454 shares of the restaurant operator's stock valued at $112,249,000 after buying an additional 135,095 shares in the last quarter. Patient Capital Management LLC raised its position in shares of Dave & Buster's Entertainment by 36.6% during the 4th quarter. Patient Capital Management LLC now owns 1,777,260 shares of the restaurant operator's stock valued at $51,878,000 after buying an additional 476,662 shares in the last quarter. Clearline Capital LP raised its position in shares of Dave & Buster's Entertainment by 1,768.8% during the 4th quarter. Clearline Capital LP now owns 1,146,224 shares of the restaurant operator's stock valued at $33,458,000 after buying an additional 1,084,890 shares in the last quarter. Northern Trust Corp raised its position in shares of Dave & Buster's Entertainment by 11.0% during the 4th quarter. Northern Trust Corp now owns 371,818 shares of the restaurant operator's stock valued at $10,853,000 after buying an additional 36,785 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Dave & Buster's Entertainment by 72.3% during the 4th quarter. Russell Investments Group Ltd. now owns 338,635 shares of the restaurant operator's stock valued at $9,885,000 after buying an additional 142,045 shares in the last quarter. 91.45% of the stock is owned by institutional investors.

Dave & Buster's Entertainment Trading Up 2.8%

Shares of PLAY traded up $0.89 during trading hours on Friday, reaching $32.84. 1,122,240 shares of the company traded hands, compared to its average volume of 954,851. The company's fifty day moving average price is $28.50 and its two-hundred day moving average price is $24.08. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 32.52 and a beta of 2.08. The company has a quick ratio of 0.17, a current ratio of 0.26 and a debt-to-equity ratio of 10.69. Dave & Buster's Entertainment, Inc. has a 12 month low of $15.08 and a 12 month high of $43.73.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last announced its earnings results on Tuesday, June 10th. The restaurant operator reported $0.76 earnings per share for the quarter, missing analysts' consensus estimates of $0.96 by ($0.20). Dave & Buster's Entertainment had a net margin of 1.83% and a return on equity of 40.67%. The company had revenue of $567.70 million for the quarter, compared to the consensus estimate of $572.12 million. During the same period in the previous year, the firm posted $0.99 EPS. The company's revenue for the quarter was down 3.5% on a year-over-year basis. Equities research analysts predict that Dave & Buster's Entertainment, Inc. will post 2.52 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Tarun Lal bought 8,060 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was acquired at an average cost of $31.26 per share, with a total value of $251,955.60. Following the completion of the acquisition, the chief executive officer owned 8,060 shares of the company's stock, valued at approximately $251,955.60. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John Mulleady sold 5,931 shares of Dave & Buster's Entertainment stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $32.79, for a total transaction of $194,477.49. Following the completion of the transaction, the senior vice president directly owned 42,550 shares of the company's stock, valued at $1,395,214.50. This trade represents a 12.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.02% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PLAY. 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. Piper Sandler lifted their target price on shares of Dave & Buster's Entertainment from $22.00 to $30.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 11th. Truist Financial lifted their target price on shares of Dave & Buster's Entertainment from $22.00 to $29.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. BMO Capital Markets lifted their target price on shares of Dave & Buster's Entertainment from $30.00 to $35.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 11th. Finally, 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $33.83.

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.