ING Groep NV Takes Position in Dave & Buster’s Entertainment, Inc. $PLAY

ING Groep NV acquired a new stake in Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 451,000 shares of the restaurant operator’s stock, valued at approximately $7,311,000.

A number of other hedge funds have also made changes to their positions in PLAY. Nomura Holdings Inc. grew 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. MUFG Securities EMEA plc bought a new stake in Dave & Buster’s Entertainment during the fourth quarter worth about $7,359,000. SG Americas Securities LLC grew its stake in Dave & Buster’s Entertainment by 232.3% during the fourth quarter. SG Americas Securities LLC now owns 634,148 shares of the restaurant operator’s stock worth $10,280,000 after buying an additional 443,308 shares during the last quarter. Fund 1 Investments LLC bought a new stake in Dave & Buster’s Entertainment during the third quarter worth about $7,791,000. Finally, CIBC Bancorp USA Inc. bought a new stake in Dave & Buster’s Entertainment during the third quarter worth about $6,118,000. Institutional investors and hedge funds own 91.45% of the company’s stock.

Wall Street Analyst Weigh In

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

Dave & Buster’s Entertainment Trading Down 1.4%

PLAY opened at $11.04 on Tuesday. The company has a current ratio of 0.29, a quick ratio of 0.19 and a debt-to-equity ratio of 16.61. The stock has a market capitalization of $383.53 million, a PE ratio of -7.72 and a beta of 1.81. Dave & Buster’s Entertainment, Inc. has a 1-year low of $9.61 and a 1-year high of $35.53. The firm has a 50-day moving average price of $11.87 and a two-hundred day moving average price of $14.91.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last issued its earnings results on Tuesday, March 31st. The restaurant operator reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.74). The business had revenue of $529.60 million during the quarter, compared to the consensus estimate 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 firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the business posted $0.69 EPS. As a group, equities analysts anticipate that Dave & Buster’s Entertainment, Inc. will post -0.77 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Steve Klohn sold 6,989 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $14.69, for a total value of $102,668.41. Following the transaction, the senior vice president owned 38,547 shares of the company’s stock, valued at approximately $566,255.43. This trade represents a 15.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.73% of the company’s stock.

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.