Public Sector Pension Investment Board Purchases 19,358 Shares of Dave & Buster's Entertainment, Inc. $PLAY

Key Points

• The Public Sector Pension Investment Board increased its holdings in Dave & Buster's Entertainment by 24.7%, acquiring an additional 19,358 shares, bringing its total ownership to about 0.28% of the company.
• Dave & Buster's reported earnings per share (EPS) of $0.76 for the most recent quarter, missing analysts' expectations and showing a 3.5% decline in revenue compared to the prior year.
• Several analysts have adjusted their price targets for Dave & Buster's, with estimates now ranging from $22.00 to $46.00, and a consensus rating of "Hold".

Public Sector Pension Investment Board increased its stake in Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Free Report) by 24.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 97,658 shares of the restaurant operator's stock after buying an additional 19,358 shares during the quarter. Public Sector Pension Investment Board owned 0.28% of Dave & Buster's Entertainment worth $1,716,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. LPL Financial LLC bought a new stake in Dave & Buster's Entertainment in the 4th quarter valued at about $311,000. Wells Fargo & Company MN raised its stake in Dave & Buster's Entertainment by 27.5% in the 4th quarter. Wells Fargo & Company MN now owns 17,154 shares of the restaurant operator's stock valued at $501,000 after acquiring an additional 3,703 shares during the period. Invesco Ltd. raised its stake in Dave & Buster's Entertainment by 16.6% in the 4th quarter. Invesco Ltd. now owns 208,914 shares of the restaurant operator's stock valued at $6,098,000 after acquiring an additional 29,800 shares during the period. Raymond James Financial Inc. bought a new stake in Dave & Buster's Entertainment in the 4th quarter valued at about $3,677,000. Finally, MetLife Investment Management LLC increased its position in shares of Dave & Buster's Entertainment by 7.7% during the fourth quarter. MetLife Investment Management LLC now owns 20,618 shares of the restaurant operator's stock valued at $602,000 after buying an additional 1,479 shares during the period. 91.45% of the stock is owned by hedge funds and other institutional investors.

Dave & Buster's Entertainment Trading Up 5.7%

Shares of PLAY traded up $1.36 during mid-day trading on Friday, reaching $25.34. The company's stock had a trading volume of 887,442 shares, compared to its average volume of 756,290. The stock has a market cap of $876.26 million, a PE ratio of 25.09 and a beta of 2.14. The company has a current ratio of 0.26, a quick ratio of 0.17 and a debt-to-equity ratio of 10.69. Dave & Buster's Entertainment, Inc. has a 52 week low of $15.08 and a 52 week high of $43.73. The company's fifty day moving average price is $29.68 and its two-hundred day moving average price is $24.00.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $567.70 million for the quarter, compared to analysts' expectations of $572.12 million. Dave & Buster's Entertainment had a net margin of 1.83% and a return on equity of 40.67%. The business's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the company posted $0.99 EPS. On average, analysts predict that Dave & Buster's Entertainment, Inc. will post 2.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PLAY has been the topic of several analyst reports. Loop Capital upped their price target on Dave & Buster's Entertainment from $35.00 to $46.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. BMO Capital Markets upped their price target on 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. Piper Sandler boosted their price objective on Dave & Buster's Entertainment from $22.00 to $30.00 and gave the stock a "neutral" rating in a report on Wednesday, June 11th. UBS Group boosted their price objective on Dave & Buster's Entertainment from $18.00 to $29.00 and gave the stock a "neutral" rating in a report on Wednesday, June 11th. Finally, Truist Financial boosted their price objective on Dave & Buster's Entertainment from $22.00 to $29.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $33.83.

Insiders Place Their Bets

In related news, SVP John Mulleady sold 5,931 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $32.79, for a total value of $194,477.49. Following the completion of the sale, the senior vice president 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Tarun Lal acquired 8,060 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was purchased at an average price of $31.26 per share, with a total value of $251,955.60. Following the acquisition, the chief executive officer owned 8,060 shares of the company's stock, valued at $251,955.60. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.02% of the company's stock.

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.