Clearline Capital LP Purchases New Holdings in Dave & Buster’s Entertainment Inc (NASDAQ:PLAY)

Clearline Capital LP acquired a new position in shares of Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 61,334 shares of the restaurant operator’s stock, valued at approximately $2,088,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its stake in Dave & Buster’s Entertainment by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 16,200 shares of the restaurant operator’s stock valued at $645,000 after acquiring an additional 300 shares during the period. GDS Wealth Management increased its position in Dave & Buster’s Entertainment by 3.3% in the third quarter. GDS Wealth Management now owns 15,202 shares of the restaurant operator’s stock worth $518,000 after buying an additional 488 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Dave & Buster’s Entertainment by 2.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,757 shares of the restaurant operator’s stock valued at $1,425,000 after buying an additional 546 shares during the last quarter. Kimelman & Baird LLC acquired a new position in shares of Dave & Buster’s Entertainment during the second quarter valued at $28,000. Finally, Cerity Partners LLC grew its position in shares of Dave & Buster’s Entertainment by 3.2% during the third quarter. Cerity Partners LLC now owns 23,204 shares of the restaurant operator’s stock worth $790,000 after acquiring an additional 710 shares during the last quarter. 91.45% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Christopher Daniel Morris purchased 14,912 shares of Dave & Buster’s Entertainment stock in a transaction dated Monday, October 7th. The stock was acquired at an average cost of $33.67 per share, with a total value of $502,087.04. Following the completion of the transaction, the chief executive officer now directly owns 83,847 shares of the company’s stock, valued at $2,823,128.49. This trade represents a 21.63 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.

Dave & Buster’s Entertainment Stock Performance

PLAY opened at $39.32 on Monday. The company has a quick ratio of 0.14, a current ratio of 0.24 and a debt-to-equity ratio of 4.54. The firm has a market cap of $1.55 billion, a PE ratio of 14.35 and a beta of 2.13. The business has a fifty day simple moving average of $36.14 and a 200-day simple moving average of $37.75. Dave & Buster’s Entertainment Inc has a fifty-two week low of $29.31 and a fifty-two week high of $69.82.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last posted its quarterly earnings data on Tuesday, September 10th. The restaurant operator reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.28. Dave & Buster’s Entertainment had a return on equity of 51.75% and a net margin of 5.10%. The firm had revenue of $557.10 million for the quarter, compared to the consensus estimate of $560.65 million. During the same quarter in the previous year, the company earned $0.94 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, equities analysts predict that Dave & Buster’s Entertainment Inc will post 2.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PLAY has been the subject of several recent analyst reports. StockNews.com cut shares of Dave & Buster’s Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. Benchmark began coverage on Dave & Buster’s Entertainment in a research report on Monday, October 7th. They set a “hold” rating for the company. Loop Capital cut their price objective on shares of Dave & Buster’s Entertainment from $63.00 to $59.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Truist Financial lowered their target price on shares of Dave & Buster’s Entertainment from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Finally, BMO Capital Markets decreased their price objective on shares of Dave & Buster’s Entertainment from $55.00 to $51.00 and set an “outperform” rating for the company in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Dave & Buster’s Entertainment currently has a consensus rating of “Hold” and an average target price of $61.57.

Dave & Buster’s Entertainment Company 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.