Emerald Mutual Fund Advisers Trust decreased its position in Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) by 9.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 114,573 shares of the restaurant operator’s stock after selling 12,340 shares during the quarter. Emerald Mutual Fund Advisers Trust owned approximately 0.28% of Dave & Buster’s Entertainment worth $6,013,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. New York State Teachers Retirement System raised its holdings in Dave & Buster’s Entertainment by 8.2% in the third quarter. New York State Teachers Retirement System now owns 17,126 shares of the restaurant operator’s stock worth $899,000 after purchasing an additional 1,300 shares in the last quarter. Rice Hall James & Associates LLC raised its holdings in Dave & Buster’s Entertainment by 157.3% in the third quarter. Rice Hall James & Associates LLC now owns 463,477 shares of the restaurant operator’s stock worth $24,323,000 after purchasing an additional 283,355 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in Dave & Buster’s Entertainment in the third quarter worth $268,000. First Quadrant L P CA bought a new position in Dave & Buster’s Entertainment in the third quarter worth $644,000. Finally, Fox Run Management L.L.C. bought a new position in Dave & Buster’s Entertainment in the third quarter worth $520,000.
In related news, SVP J Michael Plunkett sold 3,000 shares of the stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $51.20, for a total transaction of $153,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian Jenkins sold 2,000 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $52.30, for a total value of $104,600.00. Following the sale, the chief financial officer now directly owns 5,042 shares in the company, valued at $263,696.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,000 shares of company stock worth $2,901,075. Insiders own 3.84% of the company’s stock.
A number of research firms have issued reports on PLAY. Zacks Investment Research downgraded Dave & Buster’s Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub downgraded Dave & Buster’s Entertainment from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Maxim Group reiterated a “buy” rating and issued a $78.00 price objective on shares of Dave & Buster’s Entertainment in a report on Wednesday, September 6th. Raymond James Financial, Inc. set a $63.00 price objective on Dave & Buster’s Entertainment and gave the stock a “buy” rating in a report on Thursday, October 12th. Finally, Canaccord Genuity decreased their price objective on 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. One research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $71.90.
Shares of Dave & Buster’s Entertainment, Inc. (NASDAQ PLAY) opened at $46.53 on Friday. Dave & Buster’s Entertainment, Inc. has a 12 month low of $39.15 and a 12 month high of $73.48. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 1.18 and a beta of 0.53. The company has a quick ratio of 0.32, a current ratio of 0.44 and a debt-to-equity ratio of 0.70.
Dave & Buster’s Entertainment (NASDAQ:PLAY) last released its earnings results on Tuesday, September 5th. The restaurant operator reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. Dave & Buster’s Entertainment had a return on equity of 24.58% and a net margin of 10.27%. The firm had revenue of $280.80 million for the quarter, compared to analysts’ expectations of $281.69 million. During the same period in the prior year, the firm posted $0.50 earnings per share. The company’s quarterly revenue was up 14.9% on a year-over-year basis. equities research analysts anticipate that Dave & Buster’s Entertainment, Inc. will post 2.66 EPS for the current year.
Dave & Buster’s Entertainment announced that its board has approved a stock repurchase 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 purchase up to 4.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Dave & Buster’s Entertainment 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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