Geode Capital Management LLC Decreases Stake in Dave & Buster’s Entertainment Inc (NASDAQ:PLAY)

Geode Capital Management LLC cut its position in Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 755,070 shares of the restaurant operator’s stock after selling 7,508 shares during the period. Geode Capital Management LLC owned 1.92% of Dave & Buster’s Entertainment worth $25,715,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Eminence Capital LP raised its position in shares of Dave & Buster’s Entertainment by 69.3% during the 2nd quarter. Eminence Capital LP now owns 3,768,476 shares of the restaurant operator’s stock worth $150,023,000 after acquiring an additional 1,542,154 shares in the last quarter. American Century Companies Inc. increased its stake in Dave & Buster’s Entertainment by 8.2% in the second quarter. American Century Companies Inc. now owns 1,266,280 shares of the restaurant operator’s stock valued at $50,411,000 after purchasing an additional 95,499 shares during the last quarter. Rubric Capital Management LP increased its stake in Dave & Buster’s Entertainment by 104.7% in the second quarter. Rubric Capital Management LP now owns 1,225,000 shares of the restaurant operator’s stock valued at $48,767,000 after purchasing an additional 626,497 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Dave & Buster’s Entertainment by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,144,268 shares of the restaurant operator’s stock worth $45,553,000 after purchasing an additional 25,138 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Dave & Buster’s Entertainment by 0.9% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 793,767 shares of the restaurant operator’s stock worth $31,600,000 after buying an additional 6,713 shares during the last quarter. 91.45% of the stock is owned by hedge funds and other institutional investors.

Dave & Buster’s Entertainment Stock Down 1.4 %

PLAY opened at $29.14 on Friday. Dave & Buster’s Entertainment Inc has a 52 week low of $25.00 and a 52 week high of $69.82. The business has a 50 day moving average price of $35.14 and a two-hundred day moving average price of $35.29. The company has a quick ratio of 0.14, a current ratio of 0.29 and a debt-to-equity ratio of 6.38. The company has a market cap of $1.12 billion, a PE ratio of 14.43 and a beta of 2.13.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PLAY shares. Loop Capital dropped their target price on shares of Dave & Buster’s Entertainment from $59.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Truist Financial reaffirmed a “hold” rating and set a $36.00 price objective (down previously from $56.00) on shares of Dave & Buster’s Entertainment in a report on Wednesday, December 11th. Benchmark assumed coverage on Dave & Buster’s Entertainment in a report on Monday, October 7th. They issued a “hold” rating for the company. BMO Capital Markets dropped their price target on Dave & Buster’s Entertainment from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 11th. Finally, William Blair reaffirmed a “market perform” rating on shares of Dave & Buster’s Entertainment in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $53.38.

Insider Activity

In other news, CEO Christopher Daniel Morris bought 14,912 shares of the stock in a transaction dated Monday, October 7th. The shares were acquired at an average price of $33.67 per share, with a total value of $502,087.04. Following the completion of the acquisition, the chief executive officer now directly owns 83,847 shares in the company, valued at approximately $2,823,128.49. The trade was a 21.63 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin M. Sheehan purchased 19,025 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were purchased at an average price of $26.44 per share, for a total transaction of $503,021.00. Following the completion of the purchase, the chief executive officer now owns 69,025 shares of the company’s stock, valued at approximately $1,825,021. This trade represents a 38.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 71,672 shares of company stock valued at $1,966,596. Company insiders own 1.60% of the company’s stock.

Dave & Buster’s Entertainment Company Profile

Dave & Buster's Entertainment, Inc owns and operates entertainment and dining venues for adults and families. Its venues offer a menu of entrees 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.