Dave & Buster’s Entertainment, Inc. $PLAY Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its position in shares of Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) by 73.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,658 shares of the restaurant operator’s stock after selling 120,735 shares during the period. Intech Investment Management LLC owned 0.13% of Dave & Buster’s Entertainment worth $724,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLAY. Advisory Services Network LLC acquired a new stake in Dave & Buster’s Entertainment during the third quarter worth about $27,000. Leonteq Securities AG purchased a new position in Dave & Buster’s Entertainment during the fourth quarter worth about $42,000. Quadrant Capital Group LLC purchased a new position in Dave & Buster’s Entertainment during the third quarter worth about $104,000. AlphaQuest LLC boosted its stake in Dave & Buster’s Entertainment by 415.9% during the third quarter. AlphaQuest LLC now owns 8,094 shares of the restaurant operator’s stock worth $147,000 after buying an additional 6,525 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in Dave & Buster’s Entertainment by 292.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,062 shares of the restaurant operator’s stock worth $152,000 after buying an additional 3,772 shares during the period. 91.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Activity at Dave & Buster’s Entertainment

In other news, SVP Steve Klohn sold 6,989 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $14.69, for a total value of $102,668.41. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.73% of the company’s stock.

Dave & Buster’s Entertainment Trading Down 1.4%

NASDAQ PLAY opened at $11.04 on Tuesday. The firm has a 50 day simple moving average of $11.87 and a 200-day simple moving average of $14.91. The company has a debt-to-equity ratio of 16.61, a quick ratio of 0.19 and a current ratio of 0.29. Dave & Buster’s Entertainment, Inc. has a one year low of $9.61 and a one year high of $35.53. The firm has a market cap of $383.53 million, a price-to-earnings ratio of -7.72 and a beta of 1.81.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last posted its quarterly earnings data on Tuesday, March 31st. The restaurant operator reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.74). Dave & Buster’s Entertainment had a negative net margin of 2.32% and a negative return on equity of 7.93%. The business had revenue of $529.60 million during the quarter, compared to analysts’ expectations of $556.56 million. During the same period in the previous year, the business posted $0.69 EPS. The company’s revenue for the quarter was down .9% compared to the same quarter last year. Equities research analysts anticipate that Dave & Buster’s Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Dave & Buster’s Entertainment 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.