Envestnet Asset Management Inc. Sells 3,699 Shares of Dave & Buster’s Entertainment, Inc. $PLAY

Envestnet Asset Management Inc. reduced its position in shares of Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) by 21.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,800 shares of the restaurant operator’s stock after selling 3,699 shares during the period. Envestnet Asset Management Inc.’s holdings in Dave & Buster’s Entertainment were worth $415,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE boosted its position in Dave & Buster’s Entertainment by 442.0% during the 1st quarter. US Bancorp DE now owns 1,561 shares of the restaurant operator’s stock worth $27,000 after buying an additional 1,273 shares during the period. Farther Finance Advisors LLC acquired a new position in shares of Dave & Buster’s Entertainment during the second quarter worth $37,000. Federated Hermes Inc. acquired a new position in shares of Dave & Buster’s Entertainment during the first quarter worth $139,000. Headlands Technologies LLC grew its stake in shares of Dave & Buster’s Entertainment by 4,311.6% in the first quarter. Headlands Technologies LLC now owns 10,985 shares of the restaurant operator’s stock worth $193,000 after purchasing an additional 10,736 shares during the last quarter. Finally, Boyar Asset Management Inc. acquired a new stake in Dave & Buster’s Entertainment in the second quarter valued at $205,000. Institutional investors and hedge funds own 91.45% of the company’s stock.

Dave & Buster’s Entertainment Price Performance

Shares of PLAY opened at $17.40 on Thursday. The firm has a market cap of $603.21 million, a PE ratio of 51.18 and a beta of 2.02. Dave & Buster’s Entertainment, Inc. has a 52-week low of $13.04 and a 52-week high of $40.10. The business’s 50 day moving average price is $16.76 and its two-hundred day moving average price is $23.30. The company has a debt-to-equity ratio of 9.32, a quick ratio of 0.22 and a current ratio of 0.33.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last released its quarterly earnings data on Monday, September 15th. The restaurant operator reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.52). The company had revenue of $557.40 million during the quarter, compared to the consensus estimate of $565.43 million. Dave & Buster’s Entertainment had a net margin of 0.46% and a return on equity of 29.24%. The business’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.99 EPS. On average, equities analysts anticipate that Dave & Buster’s Entertainment, Inc. will post 2.52 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on PLAY. Zacks Research downgraded Dave & Buster’s Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, September 15th. Weiss Ratings restated a “sell (d)” rating on shares of Dave & Buster’s Entertainment in a research report on Wednesday, October 8th. Truist Financial cut their price objective on Dave & Buster’s Entertainment from $27.00 to $22.00 and set a “hold” rating on the stock in a research note on Tuesday, September 16th. Piper Sandler reduced their target price on Dave & Buster’s Entertainment from $30.00 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, September 16th. Finally, UBS Group decreased their target price on shares of Dave & Buster’s Entertainment from $29.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday, September 16th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $31.33.

Dave & Buster’s Entertainment Company 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.