Parametric Portfolio Associates LLC grew its stake in Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) by 16.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 182,212 shares of the restaurant operator’s stock after buying an additional 26,380 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.44% of Dave & Buster’s Entertainment worth $12,119,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of PLAY. Tower Research Capital LLC TRC increased its position in Dave & Buster’s Entertainment by 335.9% in the first quarter. Tower Research Capital LLC TRC now owns 1,905 shares of the restaurant operator’s stock worth $116,000 after buying an additional 1,468 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Dave & Buster’s Entertainment by 147.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,157 shares of the restaurant operator’s stock worth $143,000 after acquiring an additional 1,286 shares during the period. Point72 Asia Hong Kong Ltd boosted its stake in Dave & Buster’s Entertainment by 14,258.8% during the first quarter. Point72 Asia Hong Kong Ltd now owns 2,441 shares of the restaurant operator’s stock valued at $149,000 after buying an additional 2,424 shares during the last quarter. US Bancorp DE boosted its stake in Dave & Buster’s Entertainment by 29.6% during the first quarter. US Bancorp DE now owns 3,059 shares of the restaurant operator’s stock valued at $187,000 after buying an additional 699 shares during the last quarter. Finally, Ameritas Investment Partners Inc. bought a new position in Dave & Buster’s Entertainment during the first quarter valued at approximately $200,000.
In other Dave & Buster’s Entertainment news, SVP J Michael Plunkett sold 3,000 shares of Dave & Buster’s Entertainment stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $51.20, for a total value of $153,600.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Stephen M. King sold 45,000 shares of Dave & Buster’s Entertainment stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $49.80, for a total transaction of $2,241,000.00. Following the completion of the transaction, the chief executive officer now owns 22,501 shares in the company, valued at approximately $1,120,549.80. The disclosure for this sale can be found here. Insiders sold a total of 68,000 shares of company stock valued at $3,565,675 over the last ninety days. 3.84% of the stock is owned by corporate insiders.
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Shares of Dave & Buster’s Entertainment, Inc. (NASDAQ PLAY) opened at 48.16 on Wednesday. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 18.75 and a beta of 0.59. Dave & Buster’s Entertainment, Inc. has a 1-year low of $39.15 and a 1-year high of $73.48. The firm’s 50-day moving average price is $53.54 and its 200 day moving average price is $61.77.
Dave & Buster’s Entertainment (NASDAQ:PLAY) last issued its quarterly earnings data on Tuesday, September 5th. The restaurant operator reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.04. Dave & Buster’s Entertainment had a net margin of 10.27% and a return on equity of 24.58%. The business had revenue of $280.80 million during the quarter, compared to analysts’ expectations of $281.69 million. During the same period last year, the company posted $0.50 EPS. The company’s revenue was up 14.9% on a year-over-year basis. Equities research analysts expect that Dave & Buster’s Entertainment, Inc. will post $2.70 earnings per share for the current fiscal year.
Dave & Buster’s Entertainment declared that its board has authorized a stock buyback plan on Friday, September 8th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the restaurant operator to reacquire up to 4.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
A number of equities analysts recently commented on PLAY shares. Zacks Investment Research lowered Dave & Buster’s Entertainment from a “buy” rating to a “hold” rating in a research note on Monday, August 21st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Dave & Buster’s Entertainment in a research note on Friday, July 14th. BidaskClub downgraded Dave & Buster’s Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $69.00 price target (down from $74.00) on shares of Dave & Buster’s Entertainment in a report on Friday, September 1st. Finally, Raymond James Financial, Inc. reiterated an “outperform” rating and issued a $77.00 price target on shares of Dave & Buster’s Entertainment in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $73.00.
Dave & Buster’s Entertainment Company Profile
Dave & Busters Entertainment, Inc owns and operates entertainment and dining venues for adults and families in North America. Its venues offer a menu of Fun American New Gourmet entrées 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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