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 acquired a new stake in Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 23,844 shares of the restaurant operator's stock, valued at approximately $419,000. Quantbot Technologies LP owned 0.07% of Dave & Buster's Entertainment as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PLAY. US Bancorp DE lifted its stake in shares of Dave & Buster's Entertainment by 442.0% in the first quarter. US Bancorp DE now owns 1,561 shares of the restaurant operator's stock valued at $27,000 after purchasing an additional 1,273 shares during the period. Signaturefd LLC lifted its stake in shares of Dave & Buster's Entertainment by 1,427.5% in the first quarter. Signaturefd LLC now owns 4,277 shares of the restaurant operator's stock valued at $75,000 after purchasing an additional 3,997 shares during the period. GAMMA Investing LLC lifted its stake in shares of Dave & Buster's Entertainment by 3,974.8% in the first quarter. GAMMA Investing LLC now owns 4,360 shares of the restaurant operator's stock valued at $77,000 after purchasing an additional 4,253 shares during the period. Federated Hermes Inc. acquired a new position in Dave & Buster's Entertainment during the first quarter worth about $139,000. Finally, Headlands Technologies LLC raised its position in Dave & Buster's Entertainment by 4,311.6% during the first quarter. Headlands Technologies LLC now owns 10,985 shares of the restaurant operator's stock worth $193,000 after acquiring an additional 10,736 shares during the last quarter. Institutional investors and hedge funds own 91.45% of the company's stock.

Insider Buying and Selling

In other news, CEO Tarun Lal acquired 8,060 shares of the business's stock in a transaction dated Tuesday, July 22nd. The stock was acquired at an average price of $31.26 per share, with a total value of $251,955.60. Following the completion of the transaction, the chief executive officer directly owned 8,060 shares in the company, valued at approximately $251,955.60. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP John Mulleady sold 5,931 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $32.79, for a total transaction 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 approximately $1,395,214.50. The trade was 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.

Analyst Upgrades and Downgrades

PLAY has been the subject of a number of research reports. 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. 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. 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. Finally, 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. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $33.83.

Dave & Buster's Entertainment Stock Performance

NASDAQ:PLAY opened at $25.89 on Wednesday. The firm has a 50 day simple moving average of $29.39 and a 200-day simple moving average of $23.98. The company has a debt-to-equity ratio of 10.69, a current ratio of 0.26 and a quick ratio of 0.17. The firm has a market cap of $895.28 million, a PE ratio of 25.63 and a beta of 2.14. Dave & Buster's Entertainment, Inc. has a 1-year low of $15.08 and a 1-year high of $43.73.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last posted 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 firm had revenue of $567.70 million during the quarter, compared to analyst estimates 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 quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.99 EPS. On average, equities analysts expect that Dave & Buster's Entertainment, Inc. will post 2.52 EPS for the current year.

Dave & Buster's Entertainment Company Profile

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.

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