Louisiana State Employees Retirement System Cuts Holdings in Dave & Buster’s Entertainment Inc (NASDAQ:PLAY)

Louisiana State Employees Retirement System decreased its position in Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) by 5.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,300 shares of the restaurant operator’s stock after selling 900 shares during the period. Louisiana State Employees Retirement System’s holdings in Dave & Buster’s Entertainment were worth $521,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLAY. Eminence Capital LP increased its stake in shares of Dave & Buster’s Entertainment by 69.3% during the second quarter. Eminence Capital LP now owns 3,768,476 shares of the restaurant operator’s stock worth $150,023,000 after purchasing an additional 1,542,154 shares in the last quarter. Rubric Capital Management LP increased its stake in shares of Dave & Buster’s Entertainment by 104.7% during the second quarter. Rubric Capital Management LP now owns 1,225,000 shares of the restaurant operator’s stock worth $48,767,000 after purchasing an additional 626,497 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of Dave & Buster’s Entertainment during the first quarter worth about $31,300,000. Hood River Capital Management LLC purchased a new stake in shares of Dave & Buster’s Entertainment during the first quarter worth about $30,229,000. Finally, Sea Cliff Partners Management LP increased its stake in shares of Dave & Buster’s Entertainment by 90.8% during the second quarter. Sea Cliff Partners Management LP now owns 515,043 shares of the restaurant operator’s stock worth $20,504,000 after purchasing an additional 245,043 shares in the last quarter. Hedge funds and other institutional investors own 91.45% of the company’s stock.

Dave & Buster’s Entertainment Stock Performance

NASDAQ:PLAY opened at $38.38 on Wednesday. The company has a debt-to-equity ratio of 4.54, a current ratio of 0.24 and a quick ratio of 0.14. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 14.01 and a beta of 2.13. The company’s 50-day moving average is $33.77 and its two-hundred day moving average is $39.74. Dave & Buster’s Entertainment Inc has a 1-year low of $29.31 and a 1-year high of $69.82.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last posted its earnings results on Tuesday, September 10th. The restaurant operator reported $1.12 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.28. The company had revenue of $557.10 million for the quarter, compared to analyst estimates of $560.65 million. Dave & Buster’s Entertainment had a net margin of 5.10% and a return on equity of 51.75%. Dave & Buster’s Entertainment’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.94 EPS. Analysts forecast that Dave & Buster’s Entertainment Inc will post 2.62 EPS for the current year.

Insider Buying and Selling at Dave & Buster’s Entertainment

In other news, CEO Christopher Daniel Morris bought 14,912 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were bought at an average cost of $33.67 per share, for a total transaction of $502,087.04. Following the acquisition, the chief executive officer now directly owns 83,847 shares of the company’s stock, valued at $2,823,128.49. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PLAY shares. BMO Capital Markets cut their target price on shares of Dave & Buster’s Entertainment from $65.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday, September 11th. Truist Financial cut their target price on shares of Dave & Buster’s Entertainment from $64.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. StockNews.com lowered shares of Dave & Buster’s Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. Benchmark began coverage on shares of Dave & Buster’s Entertainment in a research report on Monday, October 7th. They set a “hold” rating on the stock. Finally, Loop Capital lowered their price target on shares of Dave & Buster’s Entertainment from $63.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $62.57.

About Dave & Buster’s Entertainment

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.