Allspring Global Investments Holdings LLC Cuts Stake in Dave & Buster’s Entertainment Inc (NASDAQ:PLAY)

Allspring Global Investments Holdings LLC lowered its stake in shares of Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) by 56.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 816 shares of the restaurant operator’s stock after selling 1,049 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Dave & Buster’s Entertainment were worth $36,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Parkside Financial Bank & Trust increased its stake in shares of Dave & Buster’s Entertainment by 381.2% during the first quarter. Parkside Financial Bank & Trust now owns 717 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 568 shares in the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of Dave & Buster’s Entertainment during the second quarter worth about $30,000. Lazard Asset Management LLC purchased a new stake in Dave & Buster’s Entertainment during the 1st quarter valued at about $32,000. Exchange Traded Concepts LLC purchased a new stake in Dave & Buster’s Entertainment during the 2nd quarter valued at about $47,000. Finally, Jefferies Financial Group Inc. purchased a new stake in Dave & Buster’s Entertainment during the 4th quarter valued at about $55,000. Hedge funds and other institutional investors own 91.45% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Dave & Buster’s Entertainment

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

Dave & Buster’s Entertainment Stock Performance

Dave & Buster’s Entertainment stock opened at $38.39 on Friday. The firm has a 50 day simple moving average of $35.77 and a 200-day simple moving average of $38.55. Dave & Buster’s Entertainment Inc has a 1-year low of $31.65 and a 1-year high of $47.29. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.49 and a quick ratio of 0.39. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 13.28 and a beta of 2.02.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last issued its quarterly earnings data on Wednesday, September 6th. The restaurant operator reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). Dave & Buster’s Entertainment had a return on equity of 42.07% and a net margin of 6.27%. The company had revenue of $542.10 million during the quarter, compared to analyst estimates of $558.41 million. During the same quarter in the prior year, the company posted $0.61 earnings per share. The business’s revenue was up 15.7% compared to the same quarter last year. On average, analysts expect that Dave & Buster’s Entertainment Inc will post 3.22 EPS for the current year.

Dave & Buster’s Entertainment 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.