Russell Investments Group Ltd. Sells 116,620 Shares of Dave & Buster's Entertainment, Inc. $PLAY

Key Points

• Russell Investments Group Ltd. sold 116,620 shares of Dave & Buster's, reducing its stake by **34.4%**, leaving it with **222,015 shares** valued at approximately $3.9 million.
• The recent quarterly report showed that Dave & Buster's missed earnings expectations, reporting **$0.76 EPS** against an expected **$0.96 EPS**, with revenues declining **3.5% year-over-year**.
• Several hedge funds have increased their stakes in Dave & Buster's, including Clearline Capital LP, which raised its position by **1,768.8%**, indicating strong interest from institutional investors who now own **91.45%** of the stock.

Russell Investments Group Ltd. reduced its position in shares of Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Free Report) by 34.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 222,015 shares of the restaurant operator's stock after selling 116,620 shares during the period. Russell Investments Group Ltd. owned 0.64% of Dave & Buster's Entertainment worth $3,901,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Eminence Capital LP raised its position in Dave & Buster's Entertainment by 3.6% in the fourth quarter. Eminence Capital LP now owns 3,845,454 shares of the restaurant operator's stock worth $112,249,000 after acquiring an additional 135,095 shares during the period. Patient Capital Management LLC raised its position in Dave & Buster's Entertainment by 36.6% in the fourth quarter. Patient Capital Management LLC now owns 1,777,260 shares of the restaurant operator's stock worth $51,878,000 after acquiring an additional 476,662 shares during the period. Clearline Capital LP raised its position in Dave & Buster's Entertainment by 1,768.8% in the fourth quarter. Clearline Capital LP now owns 1,146,224 shares of the restaurant operator's stock worth $33,458,000 after acquiring an additional 1,084,890 shares during the period. Charles Schwab Investment Management Inc. raised its position in Dave & Buster's Entertainment by 9.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 516,835 shares of the restaurant operator's stock worth $9,081,000 after acquiring an additional 44,911 shares during the period. Finally, Northern Trust Corp raised its position in 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 acquiring an additional 36,785 shares during the period. Institutional investors own 91.45% of the company's stock.

Dave & Buster's Entertainment Price Performance

Shares of NASDAQ:PLAY opened at $25.34 on Friday. The company has a 50 day moving average of $29.68 and a 200 day moving average of $24.01. The stock has a market cap of $876.26 million, a P/E ratio of 25.09 and a beta of 2.14. Dave & Buster's Entertainment, Inc. has a 12 month low of $15.08 and a 12 month high of $43.73. 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 (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). The firm 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%. Dave & Buster's Entertainment's revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 EPS. As a group, sell-side analysts forecast that Dave & Buster's Entertainment, Inc. will post 2.52 EPS for the current fiscal year.

Insider Activity at Dave & Buster's Entertainment

In other news, CEO Tarun Lal acquired 8,060 shares of Dave & Buster's Entertainment stock in a transaction that occurred on Tuesday, July 22nd. The stock was bought at an average price of $31.26 per share, with a total value of $251,955.60. Following the completion of the purchase, the chief executive officer owned 8,060 shares in the company, valued at approximately $251,955.60. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction, the senior vice president directly owned 42,550 shares of the company's stock, valued at approximately $1,395,214.50. This represents a 12.23% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Truist Financial lifted their price objective 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. UBS Group lifted their price objective 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. Loop Capital lifted their price objective 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. BMO Capital Markets boosted their price target on shares of 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. Finally, Piper Sandler boosted their price target on shares of Dave & Buster's Entertainment from $22.00 to $30.00 and gave the company a "neutral" rating in a research report on Wednesday, June 11th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $33.83.

Dave & Buster's Entertainment 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.