Advisors Asset Management Inc. increased its position in shares of Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) by 11.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,382 shares of the restaurant operator’s stock after purchasing an additional 347 shares during the quarter. Advisors Asset Management Inc.’s holdings in Dave & Buster’s Entertainment were worth $225,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in PLAY. BlackRock Inc. lifted its stake in Dave & Buster’s Entertainment by 128,117.4% during the first quarter. BlackRock Inc. now owns 4,429,910 shares of the restaurant operator’s stock worth $270,623,000 after purchasing an additional 4,426,455 shares during the last quarter. Ameriprise Financial Inc. increased its position in Dave & Buster’s Entertainment by 129.3% in the first quarter. Ameriprise Financial Inc. now owns 999,640 shares of the restaurant operator’s stock worth $61,068,000 after buying an additional 563,599 shares during the period. TimesSquare Capital Management LLC acquired a new stake in Dave & Buster’s Entertainment in the first quarter worth $31,865,000. Vanguard Group Inc. increased its position in Dave & Buster’s Entertainment by 11.7% in the first quarter. Vanguard Group Inc. now owns 3,912,633 shares of the restaurant operator’s stock worth $239,022,000 after buying an additional 411,339 shares during the period. Finally, Scopus Asset Management L.P. acquired a new stake in Dave & Buster’s Entertainment in the first quarter worth $24,436,000.
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In other Dave & Buster’s Entertainment news, COO Margo Lynn Manning sold 10,000 shares of Dave & Buster’s Entertainment stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $66.46, for a total transaction of $664,600.00. Following the completion of the transaction, the chief operating officer now owns 15,447 shares in the company, valued at approximately $1,026,607.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian Jenkins sold 22,500 shares of Dave & Buster’s Entertainment stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $66.53, for a total value of $1,496,925.00. Following the transaction, the chief financial officer now owns 1 shares of the company’s stock, valued at approximately $66.53. The disclosure for this sale can be found here. Insiders sold a total of 87,500 shares of company stock valued at $4,909,000 over the last ninety days. 5.60% of the stock is currently owned by corporate insiders.
Several equities research analysts have weighed in on PLAY shares. Zacks Investment Research raised Dave & Buster’s Entertainment from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Tuesday, May 23rd. Jefferies Group LLC reissued a “buy” rating and set a $65.00 price target on shares of Dave & Buster’s Entertainment in a report on Thursday, May 18th. Maxim Group reissued a “buy” rating and set a $72.00 price target on shares of Dave & Buster’s Entertainment in a report on Friday, June 2nd. SunTrust Banks, Inc. set a $85.00 price target on Dave & Buster’s Entertainment and gave the company a “buy” rating in a report on Wednesday, June 7th. Finally, BMO Capital Markets reissued a “buy” rating and set a $77.00 price target (up from $64.00) on shares of Dave & Buster’s Entertainment in a report on Wednesday, June 7th. One analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $74.11.
Dave & Buster’s Entertainment, Inc. (PLAY) traded up 0.7373% during trading on Friday, hitting $52.2625. The company had a trading volume of 217,410 shares. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 20.3435 and a beta of 0.65. The firm has a 50-day moving average of $58.52 and a 200 day moving average of $62.63. Dave & Buster’s Entertainment, Inc. has a 12-month low of $37.60 and a 12-month high of $73.48.
Dave & Buster’s Entertainment (NASDAQ:PLAY) last issued its earnings results on Tuesday, September 5th. The restaurant operator reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Dave & Buster’s Entertainment had a return on equity of 24.58% and a net margin of 10.27%. The business had revenue of $280.80 million during the quarter, compared to analyst estimates of $281.69 million. During the same period in the previous year, the company posted $0.50 EPS. The firm’s revenue was up 14.9% compared to the same quarter last year. On average, equities research analysts forecast that Dave & Buster’s Entertainment, Inc. will post $2.69 earnings per share for the current year.
Dave & Buster’s Entertainment declared that its board has initiated a share repurchase plan on Tuesday, June 6th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the restaurant operator to buy up to 3.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.
About Dave & Buster’s Entertainment
Dave & Busters Entertainment, Inc owns and operates entertainment and dining venues for adults and families in North America. Its venues offer a menu of Fun American New Gourmet entrées 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.
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