Dave & Buster’s Entertainment, Inc. (PLAY) Stake Lessened by Boston Advisors LLC

Boston Advisors LLC lowered its position in shares of Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) by 39.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,675 shares of the restaurant operator’s stock after selling 5,070 shares during the period. Boston Advisors LLC’s holdings in Dave & Buster’s Entertainment were worth $403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. increased its holdings in shares of Dave & Buster’s Entertainment by 14.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 165,084 shares of the restaurant operator’s stock worth $10,085,000 after buying an additional 20,348 shares during the last quarter. Mik Capital LLC acquired a new stake in Dave & Buster’s Entertainment in the 2nd quarter valued at approximately $43,824,000. State of Alaska Department of Revenue increased its holdings in Dave & Buster’s Entertainment by 78.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,392 shares of the restaurant operator’s stock valued at $491,000 after purchasing an additional 3,242 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Dave & Buster’s Entertainment by 6.5% in the 2nd quarter. Wells Fargo & Company MN now owns 1,001,832 shares of the restaurant operator’s stock valued at $66,632,000 after purchasing an additional 61,034 shares during the last quarter. Finally, Tributary Capital Management LLC increased its holdings in Dave & Buster’s Entertainment by 12.3% in the 2nd quarter. Tributary Capital Management LLC now owns 269,690 shares of the restaurant operator’s stock valued at $17,937,000 after purchasing an additional 29,576 shares during the last quarter.

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Shares of Dave & Buster’s Entertainment, Inc. (PLAY) opened at 48.20 on Wednesday. Dave & Buster’s Entertainment, Inc. has a 12 month low of $39.15 and a 12 month high of $73.48. The stock has a market capitalization of $1.98 billion, a PE ratio of 18.76 and a beta of 0.59. The company has a 50-day moving average of $50.12 and a 200-day moving average of $60.44.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last posted its quarterly earnings results on Tuesday, September 5th. The restaurant operator reported $0.59 earnings per share (EPS) 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 company had revenue of $280.80 million for the quarter, compared to the consensus estimate of $281.69 million. During the same period last year, the firm posted $0.50 EPS. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, equities research analysts expect that Dave & Buster’s Entertainment, Inc. will post $2.68 EPS for the current fiscal year.

Dave & Buster’s Entertainment announced that its Board of Directors has authorized a stock buyback plan on Friday, September 8th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the restaurant operator to purchase up to 4.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

PLAY has been the subject of several research reports. Canaccord Genuity dropped their target price on shares of Dave & Buster’s Entertainment from $75.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, August 31st. Maxim Group reissued a “buy” rating and issued a $78.00 price target on shares of Dave & Buster’s Entertainment in a research report on Thursday, August 24th. Zacks Investment Research raised shares of Dave & Buster’s Entertainment from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Tuesday, August 22nd. Jefferies Group LLC reissued a “buy” rating and issued a $80.00 price target on shares of Dave & Buster’s Entertainment in a research report on Friday, July 14th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $69.00 price target on shares of Dave & Buster’s Entertainment in a research report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company. Dave & Buster’s Entertainment has a consensus rating of “Buy” and a consensus target price of $71.90.

In related news, CEO Stephen M. King sold 45,000 shares of Dave & Buster’s Entertainment stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $49.80, for a total value of $2,241,000.00. Following the sale, the chief executive officer now directly owns 22,501 shares in the company, valued at approximately $1,120,549.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP J Michael Plunkett sold 3,000 shares of Dave & Buster’s Entertainment stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $51.20, for a total transaction of $153,600.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,000 shares of company stock worth $2,901,075. Insiders own 3.84% of the company’s stock.

Dave & Buster’s Entertainment Profile

Dave & Buster’s 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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Institutional Ownership by Quarter for Dave & Buster`s Entertainment (NASDAQ:PLAY)

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