CenterBook Partners LP Raises Stake in Dave & Buster’s Entertainment, Inc. $PLAY

CenterBook Partners LP raised its stake in Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) by 530.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 265,155 shares of the restaurant operator’s stock after purchasing an additional 223,123 shares during the quarter. CenterBook Partners LP owned 0.76% of Dave & Buster’s Entertainment worth $4,298,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PLAY. AQR Capital Management LLC bought a new position in Dave & Buster’s Entertainment in the first quarter worth $430,000. Creative Planning purchased a new position in Dave & Buster’s Entertainment in the second quarter worth about $311,000. Marshall Wace LLP purchased a new position in Dave & Buster’s Entertainment in the second quarter worth about $243,000. Cerity Partners LLC raised its stake in shares of Dave & Buster’s Entertainment by 13.2% in the second quarter. Cerity Partners LLC now owns 22,654 shares of the restaurant operator’s stock worth $681,000 after buying an additional 2,644 shares during the period. Finally, Caption Management LLC raised its stake in shares of Dave & Buster’s Entertainment by 624.7% in the second quarter. Caption Management LLC now owns 14,153 shares of the restaurant operator’s stock worth $426,000 after buying an additional 12,200 shares during the period. Institutional investors own 91.45% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PLAY shares. Weiss Ratings reissued a “sell (d)” rating on shares of Dave & Buster’s Entertainment in a research note on Monday, April 20th. Zacks Research cut Dave & Buster’s Entertainment from a “hold” rating to a “strong sell” rating in a report on Thursday, April 2nd. Piper Sandler cut their price target on Dave & Buster’s Entertainment from $22.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, April 6th. Finally, Wall Street Zen cut Dave & Buster’s Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, April 6th. Three investment 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’s stock. According to MarketBeat.com, Dave & Buster’s Entertainment currently has a consensus rating of “Hold” and an average target price of $21.83.

Dave & Buster’s Entertainment Trading Down 1.4%

Shares of NASDAQ PLAY opened at $11.04 on Tuesday. 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 stock has a market capitalization of $383.53 million, a P/E ratio of -7.72 and a beta of 1.81. Dave & Buster’s Entertainment, Inc. has a 1-year low of $9.61 and a 1-year high of $35.53. The business has a fifty day moving average price of $11.87 and a 200 day moving average price of $14.91.

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

Insider Buying and Selling at Dave & Buster’s Entertainment

In other news, SVP Steve Klohn sold 6,989 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $14.69, for a total value of $102,668.41. Following the sale, the senior vice president owned 38,547 shares in the company, valued at $566,255.43. This represents a 15.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.73% of the company’s stock.

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.