Eminence Capital LP Decreases Stake in Dave & Buster’s Entertainment, Inc. $PLAY

Eminence Capital LP lowered its holdings in Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) by 18.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,361,149 shares of the restaurant operator’s stock after selling 544,305 shares during the period. Eminence Capital LP owned approximately 0.07% of Dave & Buster’s Entertainment worth $42,878,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its stake in Dave & Buster’s Entertainment by 292.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,062 shares of the restaurant operator’s stock valued at $152,000 after buying an additional 3,772 shares in the last quarter. Quadrant Capital Group LLC purchased a new stake in shares of Dave & Buster’s Entertainment during the third quarter worth $104,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Dave & Buster’s Entertainment during the second quarter worth $214,000. Marshall Wace LLP bought a new position in shares of Dave & Buster’s Entertainment in the second quarter worth $243,000. Finally, AlphaQuest LLC grew its position in shares of Dave & Buster’s Entertainment by 415.9% in the third quarter. AlphaQuest LLC now owns 8,094 shares of the restaurant operator’s stock valued at $147,000 after purchasing an additional 6,525 shares in the last quarter. 91.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. BMO Capital Markets decreased their price objective on Dave & Buster’s Entertainment from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 10th. Benchmark raised Dave & Buster’s Entertainment from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Friday, January 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Dave & Buster’s Entertainment in a research report on Wednesday, January 21st. UBS Group lowered their price target on shares of Dave & Buster’s Entertainment from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, January 6th. Finally, Truist Financial cut their price objective on shares of Dave & Buster’s Entertainment from $23.00 to $18.00 and set a “hold” rating for the company in a research report on Thursday, January 8th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $23.83.

Dave & Buster’s Entertainment Trading Down 0.2%

Shares of PLAY stock opened at $12.94 on Friday. The company has a market capitalization of $448.76 million, a PE ratio of -323.42 and a beta of 1.79. Dave & Buster’s Entertainment, Inc. has a 52-week low of $12.64 and a 52-week high of $35.53. The business’s fifty day moving average is $16.99 and its 200 day moving average is $17.76. The company has a debt-to-equity ratio of 11.87, a quick ratio of 0.22 and a current ratio of 0.32.

About Dave & Buster’s Entertainment

Dave & Buster’s Entertainment, Inc operates a chain of combined restaurant and entertainment venues designed to appeal to families, young adults and corporate groups. Each location features a full-service restaurant and bar alongside an arcade gaming area with ticket-based redemption, virtual reality experiences and skill-based games. Many venues also include multiple large-screen televisions and a sports bar atmosphere, catering to fans who wish to watch live sporting events in a social setting.

The company was founded in 1982 by David Corriveau and James “Buster” Corley, opening its first location in Dallas, Texas.