Dave & Buster’s Entertainment (NASDAQ:PLAY) Releases Quarterly Earnings Results

Dave & Buster’s Entertainment (NASDAQ:PLAY) posted its quarterly earnings results on Monday. The restaurant operator reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.38), FiscalAI reports. The company had revenue of $559.20 million during the quarter, compared to the consensus estimate of $580.60 million. Dave & Buster’s Entertainment had a negative net margin of 2.32% and a negative return on equity of 7.93%.

Dave & Buster’s Entertainment Trading Down 4.7%

NASDAQ PLAY traded down $0.61 on Monday, hitting $12.32. 4,288,217 shares of the stock were exchanged, compared to its average volume of 1,514,894. Dave & Buster’s Entertainment has a 52-week low of $9.61 and a 52-week high of $35.53. The company has a debt-to-equity ratio of 16.61, a current ratio of 0.29 and a quick ratio of 0.19. The company has a market capitalization of $428.00 million, a price-to-earnings ratio of -8.62 and a beta of 1.81. The company’s 50-day moving average price is $12.01 and its two-hundred day moving average price is $14.88.

Insiders Place Their Bets

In other Dave & Buster’s Entertainment news, SVP Steve Klohn sold 6,989 shares of Dave & Buster’s Entertainment stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $14.69, for a total transaction of $102,668.41. Following the transaction, the senior vice president directly owned 38,547 shares in the company, valued at approximately $566,255.43. The trade was a 15.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.73% of the company’s stock.

Hedge Funds Weigh In On Dave & Buster’s Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new position in Dave & Buster’s Entertainment during the 3rd quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Dave & Buster’s Entertainment by 616.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,942 shares of the restaurant operator’s stock valued at $31,000 after acquiring an additional 1,671 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Dave & Buster’s Entertainment by 292.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,062 shares of the restaurant operator’s stock valued at $152,000 after acquiring an additional 3,772 shares in the last quarter. Quadrant Capital Group LLC purchased a new position in shares of Dave & Buster’s Entertainment during the 3rd quarter valued at $104,000. Finally, Marshall Wace LLP purchased a new position in shares of Dave & Buster’s Entertainment during the 2nd quarter valued at $243,000. 91.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on PLAY shares. Piper Sandler dropped their price target on Dave & Buster’s Entertainment from $22.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, April 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Dave & Buster’s Entertainment in a report on Monday, April 20th. Benchmark reaffirmed a “buy” rating on shares of Dave & Buster’s Entertainment in a report on Thursday. 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, Wall Street Zen cut shares of Dave & Buster’s Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, April 6th. Two 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $21.83.

Dave & Buster’s Entertainment Company 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.