Legato Capital Management LLC Has $2.09 Million Stake in Dave & Buster’s Entertainment, Inc. (PLAY)

Legato Capital Management LLC lifted its stake in Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) by 748.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,885 shares of the restaurant operator’s stock after acquiring an additional 35,185 shares during the period. Legato Capital Management LLC owned approximately 0.10% of Dave & Buster’s Entertainment worth $2,093,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its holdings in shares of Dave & Buster’s Entertainment by 14.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 165,084 shares of the restaurant operator’s stock worth $10,085,000 after acquiring an additional 20,348 shares during the period. Mik Capital LLC bought a new position in shares of Dave & Buster’s Entertainment in the second quarter worth $43,824,000. State of Alaska Department of Revenue boosted its holdings in shares of Dave & Buster’s Entertainment by 78.1% in the second quarter. State of Alaska Department of Revenue now owns 7,392 shares of the restaurant operator’s stock worth $491,000 after acquiring an additional 3,242 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Dave & Buster’s Entertainment by 6.5% in the second quarter. Wells Fargo & Company MN now owns 1,001,832 shares of the restaurant operator’s stock worth $66,632,000 after acquiring an additional 61,034 shares during the period. Finally, Tributary Capital Management LLC raised its position in shares of Dave & Buster’s Entertainment by 12.3% in the second quarter. Tributary Capital Management LLC now owns 269,690 shares of the restaurant operator’s stock worth $17,937,000 after buying an additional 29,576 shares in the last quarter.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last released its quarterly earnings data on Tuesday, September 5th. The restaurant operator reported $0.59 EPS for the quarter, beating the 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 the consensus estimate of $281.69 million. During the same quarter in the prior year, the firm earned $0.50 EPS. The business’s revenue was up 14.9% on a year-over-year basis.

Dave & Buster’s Entertainment declared that its board has approved a stock repurchase plan on Friday, September 8th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the restaurant operator to reacquire up to 4.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

PLAY has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Dave & Buster’s Entertainment from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. BidaskClub downgraded Dave & Buster’s Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. BMO Capital Markets set a $72.00 price objective on Dave & Buster’s Entertainment and gave the stock an “outperform” rating in a research report on Tuesday, August 29th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $69.00 price objective (down previously from $74.00) on shares of Dave & Buster’s Entertainment in a research report on Friday, September 1st. Finally, TheStreet downgraded Dave & Buster’s Entertainment from a “b” rating to a “c” rating in a research report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company. Dave & Buster’s Entertainment has an average rating of “Buy” and a consensus price target of $71.90.

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In other Dave & Buster’s Entertainment news, SVP J Michael Plunkett sold 3,000 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian Jenkins sold 7,500 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $50.10, for a total transaction of $375,750.00. Following the transaction, the chief financial officer now directly owns 1 shares of the company’s stock, valued at approximately $50.10. The disclosure for this sale can be found here. Insiders have sold a total of 58,000 shares of company stock valued at $2,901,075 in the last three months. 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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