GDS Wealth Management Raises Stake in Dave & Buster’s Entertainment Inc (NASDAQ:PLAY)

GDS Wealth Management increased its stake in Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) by 3.3% in the third quarter, HoldingsChannel.com reports. The firm owned 15,202 shares of the restaurant operator’s stock after acquiring an additional 488 shares during the quarter. GDS Wealth Management’s holdings in Dave & Buster’s Entertainment were worth $518,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Easterly Investment Partners LLC purchased a new position in Dave & Buster’s Entertainment in the third quarter valued at about $1,176,000. Central Pacific Bank Trust Division grew its holdings in shares of Dave & Buster’s Entertainment by 80.1% in the 3rd quarter. Central Pacific Bank Trust Division now owns 9,246 shares of the restaurant operator’s stock worth $315,000 after acquiring an additional 4,111 shares during the period. Kimelman & Baird LLC purchased a new position in Dave & Buster’s Entertainment in the 2nd quarter valued at approximately $28,000. Sea Cliff Partners Management LP raised its holdings in Dave & Buster’s Entertainment by 90.8% during the second quarter. Sea Cliff Partners Management LP now owns 515,043 shares of the restaurant operator’s stock worth $20,504,000 after purchasing an additional 245,043 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in Dave & Buster’s Entertainment during the second quarter worth $207,000. Institutional investors and hedge funds own 91.45% of the company’s stock.

Insider Activity

In other news, CEO Christopher Daniel Morris acquired 14,912 shares of the business’s stock in a transaction on Monday, October 7th. The shares were purchased at an average price of $33.67 per share, for a total transaction of $502,087.04. Following the acquisition, the chief executive officer now directly owns 83,847 shares of the company’s stock, valued at $2,823,128.49. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Dave & Buster’s Entertainment Price Performance

PLAY opened at $39.26 on Monday. Dave & Buster’s Entertainment Inc has a 1 year low of $29.31 and a 1 year high of $69.82. The company’s 50 day simple moving average is $34.32 and its 200 day simple moving average is $39.43. The stock has a market capitalization of $1.54 billion, a PE ratio of 14.33 and a beta of 2.13. The company has a debt-to-equity ratio of 4.54, a quick ratio of 0.14 and a current ratio of 0.24.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last announced its quarterly earnings data on Tuesday, September 10th. The restaurant operator reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.28. The company had revenue of $557.10 million during the quarter, compared to analysts’ expectations of $560.65 million. Dave & Buster’s Entertainment had a net margin of 5.10% and a return on equity of 51.75%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 EPS. As a group, sell-side analysts expect that Dave & Buster’s Entertainment Inc will post 2.62 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. BMO Capital Markets dropped their price target on Dave & Buster’s Entertainment from $65.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, September 11th. Truist Financial dropped their price objective on shares of Dave & Buster’s Entertainment from $64.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Benchmark initiated coverage on Dave & Buster’s Entertainment in a research report on Monday, October 7th. They set a “hold” rating for the company. Loop Capital lowered their target price on Dave & Buster’s Entertainment from $63.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Finally, StockNews.com downgraded Dave & Buster’s Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $62.57.

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.