Quantbot Technologies LP Acquires New Position in Dave & Buster's Entertainment, Inc. $PLAY

Key Points

• Quantbot Technologies LP acquired 23,844 shares of Dave & Buster's Entertainment, valued at approximately $419,000, making it a new stakeholder in the company.
• Several institutional investors greatly increased their stakes in Dave & Buster's during the first quarter, with US Bancorp DE and Signaturefd LLC increasing their holdings by 442% and 1,427% respectively.
• Despite reporting $0.76 earnings per share, which missed estimates, analyst ratings for Dave & Buster's have varied, with target prices being raised by multiple firms, indicating a mixed outlook for the stock.

Quantbot Technologies LP bought a new stake in Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 23,844 shares of the restaurant operator's stock, valued at approximately $419,000. Quantbot Technologies LP owned about 0.07% of Dave & Buster's Entertainment as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in shares of Dave & Buster's Entertainment by 27.5% in the fourth quarter. Wells Fargo & Company MN now owns 17,154 shares of the restaurant operator's stock worth $501,000 after purchasing an additional 3,703 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of Dave & Buster's Entertainment by 7.7% in the fourth quarter. MetLife Investment Management LLC now owns 20,618 shares of the restaurant operator's stock worth $602,000 after purchasing an additional 1,479 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Dave & Buster's Entertainment by 9.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,682 shares of the restaurant operator's stock worth $750,000 after purchasing an additional 2,244 shares in the last quarter. Northern Trust Corp increased its stake in shares of Dave & Buster's Entertainment by 11.0% in the fourth quarter. Northern Trust Corp now owns 371,818 shares of the restaurant operator's stock worth $10,853,000 after purchasing an additional 36,785 shares in the last quarter. Finally, Bienville Capital Management LLC lifted its position in shares of Dave & Buster's Entertainment by 72.6% during the fourth quarter. Bienville Capital Management LLC now owns 134,651 shares of the restaurant operator's stock worth $3,930,000 after acquiring an additional 56,651 shares in the last quarter. 91.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP John Mulleady sold 5,931 shares of the business's 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 owned 42,550 shares of the company's stock, valued at approximately $1,395,214.50. The trade was a 12.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tarun Lal acquired 8,060 shares of the business's stock in a transaction dated Tuesday, July 22nd. The shares were acquired at an average cost of $31.26 per share, with a total value of $251,955.60. Following the acquisition, the chief executive officer directly 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. 2.02% of the stock is currently owned by insiders.

Dave & Buster's Entertainment Price Performance

Shares of Dave & Buster's Entertainment stock traded up $1.10 on Monday, reaching $25.67. The stock had a trading volume of 692,184 shares, compared to its average volume of 776,152. 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 market cap of $887.67 million, a P/E ratio of 25.42 and a beta of 2.04. The company has a current ratio of 0.26, a quick ratio of 0.17 and a debt-to-equity ratio of 10.69. The business's 50 day moving average is $28.85 and its two-hundred day moving average is $24.00.

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

Analysts Set New Price Targets

PLAY has been the topic of several recent research reports. UBS Group increased their target price on 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. Loop Capital increased their target price on 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. BMO Capital Markets increased their price target on shares of Dave & Buster's Entertainment from $30.00 to $35.00 and gave the stock an "outperform" rating in a report on Wednesday, June 11th. Piper Sandler increased their price target on shares of Dave & Buster's Entertainment from $22.00 to $30.00 and gave the stock a "neutral" rating in a report on Wednesday, June 11th. Finally, Truist Financial lowered their price target on shares of Dave & Buster's Entertainment from $29.00 to $27.00 and set a "hold" rating on the stock in a report on Wednesday, August 27th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $33.50.

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.