CenterBook Partners LP Grows Stock Position in Dave & Buster’s Entertainment, Inc. $PLAY

CenterBook Partners LP grew its position in Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) by 530.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 265,155 shares of the restaurant operator’s stock after acquiring an additional 223,123 shares during the quarter. CenterBook Partners LP’s holdings in Dave & Buster’s Entertainment were worth $4,298,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Nomura Holdings Inc. boosted its stake in Dave & Buster’s Entertainment by 532.9% during the third quarter. Nomura Holdings Inc. now owns 2,411,191 shares of the restaurant operator’s stock worth $43,787,000 after buying an additional 2,030,186 shares during the last quarter. Clearline Capital LP increased its stake in shares of Dave & Buster’s Entertainment by 20.4% in the 3rd quarter. Clearline Capital LP now owns 1,619,964 shares of the restaurant operator’s stock worth $29,419,000 after acquiring an additional 274,541 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Dave & Buster’s Entertainment by 22.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,511,591 shares of the restaurant operator’s stock worth $24,503,000 after acquiring an additional 276,064 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Dave & Buster’s Entertainment by 232.3% in the 4th quarter. SG Americas Securities LLC now owns 634,148 shares of the restaurant operator’s stock worth $10,280,000 after acquiring an additional 443,308 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of Dave & Buster’s Entertainment by 137.2% in the 3rd quarter. UBS Group AG now owns 509,924 shares of the restaurant operator’s stock worth $9,260,000 after acquiring an additional 294,916 shares during the last quarter. Hedge funds and other institutional investors own 91.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PLAY. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Dave & Buster’s Entertainment in a research note on Monday, April 20th. Piper Sandler cut their target price on Dave & Buster’s Entertainment from $22.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, April 6th. Zacks Research downgraded Dave & Buster’s Entertainment from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 2nd. Finally, Wall Street Zen downgraded Dave & Buster’s Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, April 6th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $21.83.

Insider Transactions at Dave & Buster’s Entertainment

In other Dave & Buster’s Entertainment news, SVP Steve Klohn sold 6,989 shares of Dave & Buster’s Entertainment stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $14.69, for a total transaction of $102,668.41. Following the completion of the sale, the senior vice president directly owned 38,547 shares of the company’s stock, valued at $566,255.43. The trade was a 15.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.73% of the stock is owned by company insiders.

Dave & Buster’s Entertainment Trading Down 1.4%

NASDAQ:PLAY opened at $11.04 on Tuesday. The firm has a market cap of $383.53 million, a PE ratio of -7.72 and a beta of 1.81. The stock has a fifty day moving average price of $11.87 and a 200 day moving average price of $14.91. Dave & Buster’s Entertainment, Inc. has a 12-month low of $9.61 and a 12-month high of $35.53. The company has a current ratio of 0.29, a quick ratio of 0.19 and a debt-to-equity ratio of 16.61.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last released its earnings results on Tuesday, March 31st. The restaurant operator reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.74). The company had revenue of $529.60 million during the quarter, compared to analysts’ expectations of $556.56 million. Dave & Buster’s Entertainment had a negative net margin of 2.32% and a negative return on equity of 7.93%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the business posted $0.69 earnings per share. Sell-side analysts anticipate that Dave & Buster’s Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Dave & Buster’s Entertainment Profile

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.