Bank of New York Mellon Corp Has $16.08 Million Stock Position in Dave & Buster’s Entertainment Inc (NASDAQ:PLAY)

Bank of New York Mellon Corp reduced its position in shares of Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) by 7.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 360,775 shares of the restaurant operator’s stock after selling 31,119 shares during the period. Bank of New York Mellon Corp owned approximately 0.84% of Dave & Buster’s Entertainment worth $16,076,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PLAY. BlackRock Inc. increased its holdings in shares of Dave & Buster’s Entertainment by 7.2% during the first quarter. BlackRock Inc. now owns 7,207,019 shares of the restaurant operator’s stock worth $265,146,000 after buying an additional 484,439 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Dave & Buster’s Entertainment by 0.5% during the first quarter. Vanguard Group Inc. now owns 5,154,666 shares of the restaurant operator’s stock worth $253,094,000 after buying an additional 26,289 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Dave & Buster’s Entertainment by 6.4% during the first quarter. American Century Companies Inc. now owns 2,459,803 shares of the restaurant operator’s stock worth $90,496,000 after buying an additional 147,589 shares in the last quarter. Nomura Holdings Inc. increased its holdings in shares of Dave & Buster’s Entertainment by 6.7% during the fourth quarter. Nomura Holdings Inc. now owns 2,448,950 shares of the restaurant operator’s stock worth $86,757,000 after buying an additional 153,227 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Dave & Buster’s Entertainment by 5.9% during the third quarter. State Street Corp now owns 1,512,478 shares of the restaurant operator’s stock worth $46,932,000 after buying an additional 84,216 shares in the last quarter. 91.45% of the stock is currently owned by institutional investors and hedge funds.

Dave & Buster’s Entertainment Stock Performance

Shares of PLAY opened at $38.24 on Wednesday. The company has a current ratio of 0.49, a quick ratio of 0.39 and a debt-to-equity ratio of 4.07. The stock has a market capitalization of $1.64 billion, a P/E ratio of 13.23 and a beta of 2.02. The firm’s fifty day simple moving average is $35.61 and its two-hundred day simple moving average is $38.51. Dave & Buster’s Entertainment Inc has a 12 month low of $31.65 and a 12 month high of $47.29.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last issued its quarterly earnings results on Wednesday, September 6th. The restaurant operator reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Dave & Buster’s Entertainment had a net margin of 6.27% and a return on equity of 42.07%. The firm had revenue of $542.10 million for the quarter, compared to the consensus estimate of $558.41 million. During the same period last year, the company posted $0.61 EPS. The business’s revenue was up 15.7% compared to the same quarter last year. As a group, analysts predict that Dave & Buster’s Entertainment Inc will post 3.23 EPS for the current year.

Insider Activity

In other news, Director Michael J. Griffith sold 6,470 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $35.23, for a total transaction of $227,938.10. Following the transaction, the director now owns 33,546 shares in the company, valued at $1,181,825.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP John Mulleady sold 7,500 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $36.40, for a total value of $273,000.00. Following the sale, the senior vice president now owns 68,312 shares in the company, valued at approximately $2,486,556.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael J. Griffith sold 6,470 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $35.23, for a total transaction of $227,938.10. Following the completion of the sale, the director now owns 33,546 shares in the company, valued at approximately $1,181,825.58. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Dave & Buster’s Entertainment in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. UBS Group reduced their price objective on shares of Dave & Buster’s Entertainment from $50.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, September 7th. BMO Capital Markets reduced their price objective on shares of Dave & Buster’s Entertainment from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, September 7th. Truist Financial reduced their price objective on shares of Dave & Buster’s Entertainment from $60.00 to $57.00 and set a “buy” rating on the stock in a research note on Thursday, September 7th. Finally, Raymond James cut shares of Dave & Buster’s Entertainment from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $60.00 to $55.00 in a research note on Thursday, September 7th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.75.

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.